An amended Schedule 13D for EchoStar Corp reports that Charles W. Ergen beneficially owns 148,681,347 EchoStar shares, representing 50.9 percent of the Class A Common Stock when his convertible Class B shares and exercisable options are included. Cantey M. Ergen beneficially owns 147,197,377 shares, or 50.7 percent of the Class A Common Stock on a similar basis.
These positions are measured against 159,143,226 Class A shares outstanding as of July 20, 2026. Because each Class B share carries 10 votes, each of Charles and Cantey Ergen may be deemed to beneficially own equity representing approximately 90.3 percent of EchoStar voting power, with effective voting power of about 89.4 percent and 89.3 percent, respectively, under an Amended and Restated Support Agreement that limits how certain Class A shares may be voted following the EchoStar–DISH merger.
The amendment also details holdings of several Ergen family grantor retained annuity trusts and Telluray Holdings, LLC, including a July 20, 2026 contribution of 5,000,000 Class B shares to the Ergen Two-Year July 2026 ECHO GRAT for estate planning purposes. Trust agreements restrict any disposition of trust-held EchoStar shares unless a defined Change of Control Event occurs.
Positive
None.
Negative
None.
Filing Explained
The new GRAT’s Class B shares are locked by a defined change-of-control test, with the trust scheduled to expire on July 20, 2028.
The filing reports that the Ergen Two-Year July 2026 ECHO GRAT is a reporting person holding 5,000,000 Class B shares, with Cantey M. Ergen as trustee holding sole voting and dispositive power; the trust is scheduled to expire on July 20, 2028.
Its trust agreement says the trustee may not dispose of those EchoStar shares unless a defined “Change of Control Event” occurs.
That definition requires a non-Ergen person to exceed 50% of EchoStar’s equity and voting power, a majority of the board to cease being Continuing Directors, and Charles W. Ergen to sell below half of his post-grant holdings.
Key Figures
Charles W. Ergen beneficial ownership:148,681,347 sharesCharles W. Ergen percent of Class A:50.9 percentCantey M. Ergen beneficial ownership:147,197,377 shares+5 more
8 metrics
Charles W. Ergen beneficial ownership148,681,347 sharesBeneficial ownership of EchoStar equity as of July 20, 2026
Charles W. Ergen percent of Class A50.9 percentPercent of Class A Common Stock represented by Charles Ergen’s holdings
Cantey M. Ergen beneficial ownership147,197,377 sharesBeneficial ownership of EchoStar equity as of July 20, 2026
Cantey M. Ergen percent of Class A50.7 percentPercent of Class A Common Stock represented by Cantey Ergen’s holdings
Telluray Holdings beneficial ownership78,807,979 sharesEchoStar Class A and B shares held by Telluray Holdings, LLC
Telluray Holdings voting power52.1 percentApproximate EchoStar voting power represented by Telluray Holdings’ equity
Shares contributed to 2026 July ECHO GRAT5,000,000 sharesClass B Common Stock contributed by Charles W. Ergen on July 20, 2026
Class A shares outstanding159,143,226 sharesEchoStar Class A Common Stock outstanding on July 20, 2026
Key Terms
beneficial ownership, Class B Common Stock, grantor retained annuity trust, Change of Control Event, +1 more
5 terms
beneficial ownershipregulatory
"The Reporting Persons' beneficial ownership of shares of Class A Common Stock excludes 313,649 shares"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Class B Common Stockfinancial
"The shares of Class B Common Stock are convertible into shares of Class A Common Stock on a one-for-one basis"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
grantor retained annuity trustfinancial
"each of the applicable grantor retained annuity trusts was established for estate planning purposes"
A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.
Change of Control Eventregulatory
"Each trust agreement provides the trustee will not dispose of shares unless a Change of Control Event occurs"
Registration Rights Agreementregulatory
"Exhibit F: Registration Rights Agreement, dated as of December 31, 2023"
A registration rights agreement is a contract that gives investors the option to have their ownership stakes officially registered with the government, making it easier to sell their shares later. This agreement matters because it provides investors with a clearer path to cash out their investments if they choose, offering more liquidity and confidence in their ability to sell their holdings when desired.
What percentage of EchoStar (ECHO) does Charles W. Ergen beneficially own?
Charles W. Ergen beneficially owns 148,681,347 EchoStar shares, representing 50.9% of the Class A Common Stock. This figure assumes conversion of his Class B shares into Class A and includes options exercisable within 60 days after July 20, 2026.
How much voting power do Charles and Cantey Ergen hold in EchoStar (ECHO)?
Each of Charles and Cantey Ergen may be deemed to beneficially own EchoStar equity representing approximately 90.3% of voting power. Under an Amended and Restated Support Agreement, their effective total voting power in specified circumstances is about 89.4% and 89.3%, respectively.
What is the size and purpose of the Ergen Two-Year July 2026 ECHO GRAT for EchoStar (ECHO)?
The Ergen Two-Year July 2026 ECHO GRAT holds 5,000,000 shares of EchoStar Class B Common Stock contributed by Charles W. Ergen on July 20, 2026. It was established for estate planning purposes, pays Mr. Ergen an annual annuity, and benefits members of the Ergen family.
How many EchoStar (ECHO) shares does Telluray Holdings, LLC beneficially own and what is its voting power?
Telluray Holdings, LLC beneficially owns 78,807,979 EchoStar shares, including 2,350,696 Class A and 76,457,283 Class B shares. Based on Class B’s 10 votes per share, Telluray represents about 52.1% of EchoStar’s voting power, with effective voting power of roughly 51.9%.
What restrictions apply to the Ergen GRATs’ ability to dispose of EchoStar (ECHO) shares?
Each Ergen grantor retained annuity trust includes an irrevocable provision barring the trustee from disposing of EchoStar shares unless a defined Change of Control Event occurs. If that event occurs, each trustee then has sole discretion over disposition of the trust’s EchoStar shares.
How many EchoStar (ECHO) Class A shares were outstanding on July 20, 2026?
There were 159,143,226 shares of EchoStar Class A Common Stock outstanding as of July 20, 2026. All percentage-of-class and voting calculations in the amended Schedule 13D are based on this share count and specified assumptions about Class B conversions and option exercises.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 68)
EchoStar CORP
(Name of Issuer)
Class A Common Stock, $0.001 par value per share
(Title of Class of Securities)
278768106
(CUSIP Number)
Jeffrey Blum, Acting CLO 9601 S. Meridian Blvd.,
Englewood,
CO,
80112 303-723-1000
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
07/20/2026
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.
The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the
Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).
schemaVersion:
SCHEDULE 13D
CUSIP Number(s):
278768106
1
Name of reporting person
Charles W. Ergen
2
Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
3
SEC use only
4
Source of funds (See Instructions)
OO
5
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
6
Citizenship or place of organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
7
Sole Voting Power
14,211,014.00
8
Shared Voting Power
134,470,333.00
9
Sole Dispositive Power
14,211,014.00
10
Shared Dispositive Power
134,470,333.00
11
Aggregate amount beneficially owned by each reporting person
148,681,347.00
12
Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
13
Percent of class represented by amount in Row (11)
50.9 %
14
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person:
(1) All share amounts include shares of Class A Common Stock, $0.001 par value per share ('Class A Common Stock') and Class B Common Stock, $0.001 par value per share ('Class B Common Stock') of EchoStar Corporation ('EchoStar'). The shares of Class B Common Stock are convertible into shares of Class A Common Stock on a one-for-one basis at any time.
(2) Sole Voting Power and Sole Dispositive Power totals consist of: (i) 11,140,269 shares of Class A Common Stock beneficially owned directly by Mr. Ergen; (ii) 11,404 shares of Class A Common Stock beneficially owned indirectly by Mr. Ergen in the DISH Network Corporation ('DISH Network') 401(k) Employee Savings Plan (the 'DISH Network 401(k) Plan'); (iii) 10,508 shares of Class B Common Stock beneficially owned directly by Mr. Ergen; (iv) 1,497,478 shares of Class A Common Stock deemed to be beneficially owned under Rule 13d-3(d)(1) because Mr. Ergen has the right to acquire beneficial ownership of such shares within 60 days after July 20, 2026; and (v) 1,551,355 shares of Class A Common Stock held by CONX Corp. ('CONX') and beneficially owned indirectly by Mr. Ergen through nXgen Opportunities, LLC ('nXgen'), which controls CONX.
(3) Shared Voting Power and Shared Dispositive Power totals consist of: (i) 2,000 shares of Class A Common Stock beneficially owned directly by Mr. Ergen's spouse, Cantey M. Ergen; (ii) 1,313 shares of Class A Common Stock beneficially owned indirectly by Mrs. Ergen in the DISH Network 401(k) Plan; (iii) 11,921 shares of Class A Common Stock beneficially owned by one of Mr. Ergen's children; (iv) 766,443 shares of Class A Common Stock beneficially owned by a charitable foundation for which Mr. Ergen is an officer and for which he shares voting and dispositive power with Mrs. Ergen; (v) 2,350,696 shares of Class A Common Stock and 76,457,283 shares of Class B Common Stock held by Telluray Holdings, LLC ('Telluray Holdings'), for which Mrs. Ergen has sole voting power as a manager of Telluray Holdings and for which Mr. Ergen and Mrs. Ergen share dispositive power as the managers of Telluray Holdings; (vi) 23,097,210 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the Ergen Two-Year May 2025 SATS GRAT (the "2025 May GRAT"); (vii) 14,483,467 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the Ergen Two-Year June 2025 SATS GRAT (the "2025 June GRAT"); (viii) 8,000,000 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the Ergen Two-Year July 2025 SATS GRAT (the '2025 July GRAT'); (ix) 4,300,000 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the Ergen Two-Year June 2026 SATS GRAT (the "2026 June GRAT"); and (x) 5,000,000 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the Ergen Two-Year July 2026 ECHO GRAT (the "2026 July GRAT").
(4) Percent of Class Represented is based on 159,143,226 shares of Class A Common Stock outstanding on July 20, 2026 and assuming the conversion of only the shares of Class B Common Stock beneficially owned by Mr. Ergen into Class A Common Stock and giving effect to the exercise of options held by Mr. Ergen that are either currently exercisable as of, or may become exercisable within 60 days after, July 20, 2026. Because each share of Class B Common Stock is entitled to 10 votes per share, Mr. Ergen may be deemed to beneficially own equity securities of EchoStar representing approximately 90.3 percent of the voting power of EchoStar (assuming no conversion of any Class B Common Stock and giving effect to the exercise of options held by Mr. Ergen that are either currently exercisable as of, or may become exercisable within 60 days after, July 20, 2026). Pursuant to the Amended and Restated Support Agreement dated as of October 2, 2023 (the 'Amended Support Agreement', see Exhibit E), Mr. Ergen and certain other Reporting Persons have agreed not to vote, or cause or direct to be voted, the Class A Common Stock beneficially owned by them, other than with respect to any matter presented to the holders of Class A Common Stock on which holders of Class B Common Stock are not entitled to vote, for three years following the closing of the merger between EchoStar and DISH. As a result, Mr. Ergen's effective total voting power in such circumstances as of July 20, 2026 is approximately 89.4 percent.
SCHEDULE 13D
CUSIP Number(s):
278768106
1
Name of reporting person
Cantey M. Ergen
2
Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
3
SEC use only
4
Source of funds (See Instructions)
OO
5
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
6
Citizenship or place of organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
7
Sole Voting Power
133,705,477.00
8
Shared Voting Power
13,491,900.00
9
Sole Dispositive Power
54,897,498.00
10
Shared Dispositive Power
92,299,879.00
11
Aggregate amount beneficially owned by each reporting person
147,197,377.00
12
Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
13
Percent of class represented by amount in Row (11)
50.7 %
14
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person:
(1) All share amounts include shares of Class A Common Stock and Class B Common Stock. The shares of Class B Common Stock are convertible into shares of Class A Common Stock on a one-for-one basis at any time.
(2) Sole Voting Power shares consist of: (i) 2,000 shares of Class A Common Stock beneficially owned directly by Mrs. Ergen; (ii) 1,313 shares of Class A Common Stock beneficially owned indirectly by Mrs. Ergen in the DISH Network 401(k) Plan; (iii) 13,508 shares of Class A Common Stock deemed to be beneficially owned under Rule 13d-3(d)(1) because Mrs. Ergen has the right to acquire beneficial ownership of such shares within 60 days after July 20, 2026; (iv) 2,350,696 shares of Class A Common Stock and 76,457,283 shares of Class B Common Stock held by Telluray Holdings, for which Mrs. Ergen has sole voting power as a manager of Telluray Holdings; (v) 23,097,210 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the 2025 May GRAT; (vi) 14,483,467 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the 2025 June GRAT; (vii) 8,000,000 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the July 2025 GRAT; (viii) 4,300,000 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the 2026 June GRAT; and (ix) 5,000,000 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the 2026 July GRAT. Mrs. Ergen exercises voting power with respect to Telluray Holdings and each of the 2025 May GRAT, the 2025 June GRAT, the 2025 July GRAT, the 2026 June GRAT and the 2026 July GRAT independently and, with respect to the 2025 May GRAT, the 2025 June GRAT, the 2025 July GRAT the 2026 June GRAT and the 2026 July GRAT, in accordance with her fiduciary responsibilities to the beneficiaries of such trusts.
(3) Shared Voting Power shares consist of: (i) 11,140,269 shares of Class A Common Stock beneficially owned directly by Mrs. Ergen's spouse, Mr. Ergen; (ii) 11,404 shares of Class A Common Stock beneficially owned indirectly by Mr. Ergen in the DISH Network 401(k) Plan; (iii) 10,508 shares of Class B Common Stock beneficially owned directly by Mr. Ergen; (iv) 11,921 shares of Class A Common Stock beneficially owned by one of Mrs. Ergen's children; (v) 766,443 shares of Class A Common Stock beneficially owned by a charitable foundation for which Mrs. Ergen is an officer and for which she shares voting and dispositive power with Mr. Ergen; and (vi) 1,551,355 shares of Class A Common Stock held by CONX and beneficially owned indirectly by Mr. Ergen through nXgen, which controls CONX.
(4) Sole Dispositive Power shares consist of: (i) 2,000 shares of Class A Common Stock beneficially owned directly by Mrs. Ergen; (ii) 1,313 shares of Class A Common Stock beneficially owned indirectly by Mrs. Ergen in the DISH Network 401(k) Plan; (iii) 13,508 shares of Class A Common Stock deemed to be beneficially owned under Rule 13d-3(d)(1) because Mrs. Ergen has the right to acquire beneficial ownership of such shares within 60 days after July 10, 2026; (iv) 23,097,210 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the 2025 May GRAT; (v) 14,483,467 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the 2025 June GRAT; (vi) 8,000,000 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the July 2025 GRAT; (vii) 4,300,000 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the 2026 June GRAT; and (viii) 5,000,000 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the 2026 July GRAT. Mrs. Ergen exercises dispositive power with respect to each of the 2025 May GRAT, the 2025 June GRAT, the 2025 July GRAT, the 2026 June GRAT and the 2026 July GRAT independently and in accordance with her fiduciary responsibilities to the beneficiaries of such trusts.
(5) Shared Dispositive Power shares consist of: (i) 11,140,269 shares of Class A Common Stock beneficially owned directly by Mrs. Ergen's spouse, Mr. Ergen; (ii) 11,404 shares of Class A Common Stock beneficially owned indirectly by Mr. Ergen in the DISH Network 401(k) Plan; (iii) 10,508 shares of Class B Common Stock beneficially owned directly by Mr. Ergen; (iv) 11,921 shares of Class A Common Stock beneficially owned by one of Mrs. Ergen's children; (v) 766,443 shares of Class A Common Stock beneficially owned by a charitable foundation for which Mrs. Ergen is an officer and for which she shares voting and dispositive power with Mr. Ergen; (vi) 2,350,696 shares of Class A Common Stock and 76,457,283 shares of Class B Common Stock held by Telluray Holdings, for which Mr. Ergen and Mrs. Ergen share dispositive power as the managers of Telluray Holdings; and (vii) 1,551,355 shares of Class A Common Stock held by CONX and beneficially owned indirectly by Mr. Ergen through nXgen, which controls CONX.
(6) Percent of Class Represented is based on 159,143,226 of Class A Common Stock outstanding on July 20, 2026 and assuming the conversion of only the shares of Class B Common Stock beneficially owned by Mrs. Ergen into Class A Common Stock and giving effect to the exercise of options held by Mrs. Ergen that are either currently exercisable as of, or may become exercisable within 60 days after, July 20, 2026. Because each share of Class B Common Stock is entitled to 10 votes per share, Mrs. Ergen may be deemed to beneficially own equity securities of EchoStar representing approximately 90.3 percent of the voting power of EchoStar (assuming no conversion of any Class B Common Stock and giving effect to the exercise of options held by Mrs. Ergen that are either exercisable as of, or may become exercisable within 60 days after, July 20, 2026). Pursuant to the Amended Support Agreement (see Exhibit E), Mrs. Ergen and certain other Reporting Persons have agreed not to vote, or cause or direct to be voted, the Class A Common Stock beneficially owned by them, other than with respect to any matter presented to the holders of Class A Common Stock on which holders of Class B Common Stock are not entitled to vote, for three years following the closing of the merger between EchoStar and DISH. As a result, Mrs. Ergen's effective total voting power in such circumstances as of July 20, 2026 is approximately 89.3 percent.
SCHEDULE 13D
CUSIP Number(s):
278768106
1
Name of reporting person
Ergen Two-Year May 2025 SATS GRAT
2
Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
3
SEC use only
4
Source of funds (See Instructions)
OO
5
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
6
Citizenship or place of organization
COLORADO
Number of Shares Beneficially Owned by Each Reporting Person With:
7
Sole Voting Power
23,097,210.00
8
Shared Voting Power
0.00
9
Sole Dispositive Power
23,097,210.00
10
Shared Dispositive Power
0.00
11
Aggregate amount beneficially owned by each reporting person
23,097,210.00
12
Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
13
Percent of class represented by amount in Row (11)
12.7 %
14
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person:
(1) All share amounts include shares of Class B Common Stock. The shares of Class B Common Stock are convertible into shares of Class A Common Stock on a one-for-one basis at any time.
(2) Percent of Class Represented is based on 159,143,226 shares of Class A Common Stock outstanding on July 20, 2026 and assuming conversion of only the shares of Class B Common Stock beneficially owned by the 2025 May GRAT into Class A Common Stock. Because such Class B Common Stock is convertible on a one-for-one basis into Class A Common Stock, assuming conversion of all shares of outstanding Class B Common Stock into Class A Common Stock, the percentage of the Class A Common Stock that the 2025 May GRAT may be deemed to beneficially own would be approximately 8.0 percent. Because each share of Class B Common Stock is entitled to 10 votes per share, the 2025 May GRAT beneficially owns equity securities of EchoStar representing approximately 15.7 percent of the voting power of EchoStar (assuming no conversion of any Class B Common Stock).
SCHEDULE 13D
CUSIP Number(s):
278768106
1
Name of reporting person
Ergen Two-Year June 2025 SATS GRAT
2
Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
3
SEC use only
4
Source of funds (See Instructions)
OO
5
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
6
Citizenship or place of organization
COLORADO
Number of Shares Beneficially Owned by Each Reporting Person With:
7
Sole Voting Power
14,483,467.00
8
Shared Voting Power
0.00
9
Sole Dispositive Power
14,483,467.00
10
Shared Dispositive Power
0.00
11
Aggregate amount beneficially owned by each reporting person
14,483,467.00
12
Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
13
Percent of class represented by amount in Row (11)
8.3 %
14
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person:
(1) All share amounts include shares of Class B Common Stock. The shares of Class B Common Stock are convertible into shares of Class A Common Stock on a one-for-one basis at any time.
(2) Percent of Class Represented is based on 159,143,226 shares of Class A Common Stock outstanding on July 20, 2026 and assuming conversion of only the shares of Class B Common Stock beneficially owned by the 2025 June GRAT into Class A Common Stock. Because such Class B Common Stock is convertible on a one-for-one basis into Class A Common Stock, assuming conversion of all shares of outstanding Class B Common Stock into Class A Common Stock, the percentage of the Class A Common Stock that the 2025 June GRAT may be deemed to beneficially own would be approximately 5.0 percent. Because each share of Class B Common Stock is entitled to 10 votes per share, the 2025 June GRAT beneficially owns equity securities of EchoStar representing approximately 9.8 percent of the voting power of EchoStar (assuming no conversion of any Class B Common Stock).
SCHEDULE 13D
CUSIP Number(s):
278768106
1
Name of reporting person
Ergen Two-Year July 2025 SATS GRAT
2
Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
3
SEC use only
4
Source of funds (See Instructions)
OO
5
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
6
Citizenship or place of organization
COLORADO
Number of Shares Beneficially Owned by Each Reporting Person With:
7
Sole Voting Power
8,000,000.00
8
Shared Voting Power
0.00
9
Sole Dispositive Power
8,000,000.00
10
Shared Dispositive Power
0.00
11
Aggregate amount beneficially owned by each reporting person
8,000,000.00
12
Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
13
Percent of class represented by amount in Row (11)
4.8 %
14
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person:
(1) All share amounts include shares of Class B Common Stock. The shares of Class B Common Stock are convertible into shares of Class A Common Stock on a one-for-one basis at any time.
(2) Percent of Class Represented is based on 159,143,226 shares of Class A Common Stock outstanding on July 20, 2026 and assuming conversion of only the shares of Class B Common Stock beneficially owned by the 2025 July GRAT into Class A Common Stock. Because such Class B Common Stock is convertible on a one-for-one basis into Class A Common Stock, assuming conversion of all shares of outstanding Class B Common Stock into Class A Common Stock, the percentage of the Class A Common Stock that the 2025 July GRAT may be deemed to beneficially own would be approximately 2.8 percent. Because each share of Class B Common Stock is entitled to 10 votes per share, the 2025 July GRAT beneficially owns equity securities of EchoStar representing approximately 5.4 percent of the voting power of EchoStar (assuming no conversion of any Class B Common Stock).
SCHEDULE 13D
CUSIP Number(s):
278768106
1
Name of reporting person
Ergen Two-Year June 2026 SATS GRAT
2
Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
3
SEC use only
4
Source of funds (See Instructions)
OO
5
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
6
Citizenship or place of organization
COLORADO
Number of Shares Beneficially Owned by Each Reporting Person With:
7
Sole Voting Power
4,300,000.00
8
Shared Voting Power
0.00
9
Sole Dispositive Power
4,300,000.00
10
Shared Dispositive Power
0.00
11
Aggregate amount beneficially owned by each reporting person
4,300,000.00
12
Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
13
Percent of class represented by amount in Row (11)
2.6 %
14
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person:
(1) All share amounts include shares of Class B Common Stock. The shares of Class B Common Stock are convertible into shares of Class A Common Stock on a one-for-one basis at any time.
(2) Percent of Class Represented is based on 159,143,226 shares of Class A Common Stock outstanding on July 20, 2026 and assuming conversion of only the shares of Class B Common Stock beneficially owned by the 2026 June GRAT into Class A Common Stock. Because such Class B Common Stock is convertible on a one-for-one basis into Class A Common Stock, assuming conversion of all shares of outstanding Class B Common Stock into Class A Common Stock, the percentage of the Class A Common Stock that the 2026 June GRAT may be deemed to beneficially own would be approximately 1.5 percent. Because each share of Class B Common Stock is entitled to 10 votes per share, the 2026 June GRAT beneficially owns equity securities of EchoStar representing approximately 2.9 percent of the voting power of EchoStar (assuming no conversion of any Class B Common Stock).
SCHEDULE 13D
CUSIP Number(s):
278768106
1
Name of reporting person
Ergen Two-Year July 2026 ECHO GRAT
2
Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
3
SEC use only
4
Source of funds (See Instructions)
OO
5
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
6
Citizenship or place of organization
COLORADO
Number of Shares Beneficially Owned by Each Reporting Person With:
7
Sole Voting Power
5,000,000.00
8
Shared Voting Power
0.00
9
Sole Dispositive Power
5,000,000.00
10
Shared Dispositive Power
0.00
11
Aggregate amount beneficially owned by each reporting person
5,000,000.00
12
Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
13
Percent of class represented by amount in Row (11)
3.1 %
14
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person:
(1) All share amounts include shares of Class B Common Stock. The shares of Class B Common Stock are convertible into shares of Class A Common Stock on a one-for-one basis at any time.
(2) Percent of Class Represented is based on 159,143,226 shares of Class A Common Stock outstanding on July 20, 2026 and assuming conversion of only the shares of Class B Common Stock beneficially owned by the 2026 June GRAT into Class A Common Stock. Because such Class B Common Stock is convertible on a one-for-one basis into Class A Common Stock, assuming conversion of all shares of outstanding Class B Common Stock into Class A Common Stock, the percentage of the Class A Common Stock that the 2026 June GRAT may be deemed to beneficially own would be approximately 1.7 percent. Because each share of Class B Common Stock is entitled to 10 votes per share, the 2026 June GRAT beneficially owns equity securities of EchoStar representing approximately 3.4 percent of the voting power of EchoStar (assuming no conversion of any Class B Common Stock).
SCHEDULE 13D
CUSIP Number(s):
278768106
1
Name of reporting person
Telluray Holdings, LLC
2
Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
3
SEC use only
4
Source of funds (See Instructions)
OO
5
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
6
Citizenship or place of organization
WYOMING
Number of Shares Beneficially Owned by Each Reporting Person With:
7
Sole Voting Power
78,807,979.00
8
Shared Voting Power
0.00
9
Sole Dispositive Power
78,807,979.00
10
Shared Dispositive Power
0.00
11
Aggregate amount beneficially owned by each reporting person
78,807,979.00
12
Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
13
Percent of class represented by amount in Row (11)
33.5 %
14
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person:
(1) All share amounts include shares of Class A Common Stock and Class B Common Stock. The shares of Class B Common Stock are convertible into shares of Class A Common Stock on a one-for-one basis at any time. Totals consist of: (i) 2,350,696 shares of Class A Common Stock; and (ii) 76,457,283 shares of Class B Common Stock, for which Mrs. Ergen has sole voting power as a manager of Telluray Holdings and for which Mr. Ergen and Mrs. Ergen share dispositive power as the managers of Telluray Holdings.
(2) Percent of Class Represented is based on 159,143,226 shares of Class A Common Stock outstanding on July 20, 2026 and assuming conversion of only the shares of Class B Common Stock beneficially owned by Telluray Holdings into Class A Common Stock. Because such Class B Common Stock is convertible on a one-for-one basis into Class A Common Stock, assuming conversion of all shares of outstanding Class B Common Stock into Class A Common Stock, the percentage of the Class A Common Stock that Telluray Holdings may be deemed to beneficially own would be approximately 27.1 percent. Because each share of Class B Common Stock is entitled to 10 votes per share, Telluray Holdings beneficially owns equity securities of EchoStar representing approximately 52.1 percent of the voting power of EchoStar (assuming no conversion of any Class B Common Stock). Pursuant to the Amended Support Agreement dated as of October 2, 2023 (see Exhibit E), Telluray Holdings and certain other Reporting Persons have agreed not to vote, or cause or direct to be voted, the Class A Common Stock beneficially owned by them, other than with respect to any matter presented to the holders of Class A Common Stock on which holders of Class B Common Stock are not entitled to vote, for three years following the closing of the merger between EchoStar and DISH. As a result, Telluray Holdings' effective total voting power in such circumstances as of July 20, 2026 is approximately 51.9 percent.
SCHEDULE 13D
Item 1.
Security and Issuer
(a)
Title of Class of Securities:
Class A Common Stock, $0.001 par value per share
(b)
Name of Issuer:
EchoStar CORP
(c)
Address of Issuer's Principal Executive Offices:
9601 South Meridian Boulevard, Englewood,
COLORADO
, 80112.
Item 2.
Identity and Background
(a)
Items 2(a)-(f) are amended and restated as follows:
Charles W. Ergen
Cantey M. Ergen
2025 May GRAT
2025 June GRAT
2025 July GRAT
2026 June GRAT
2026 July GRAT
Telluray Holdings
(b)
The principal address for all Reporting Persons except Telluray Holdings, LLC is 9601 S. Meridian Blvd., Englewood, Colorado 80112.
The principal address for Telluray Holdings is 1623 Central Avenue, Suite 214, Cheyenne, Wyoming 82001.
(c)
Mr. Ergen's principal occupation is Chairman, President and Chief Executive Officer of EchoStar.
Mrs. Ergen is a Senior Advisor and member of the Board of Directors of EchoStar.
All of the GRATs listed in 2(a) were formed under the laws of the State of Colorado and their principal business is to hold a portion of the assets and estate of Mr. Ergen.
Telluray Holdings is a limited liability company organized under the laws of the State of Wyoming and its principal business is to hold a portion of the assets and estate of Mr. Ergen and to hold certain assets of certain trusts established for the benefit of his family.
(d)
During the last five years, none of the Reporting Persons in 2(a) have been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)
During the last five years, none of the Reporting Persons listed in 2(a) have been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding been subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activity subject to, federal or state securities laws or finding any violation with respect to such laws.
(f)
United States
Item 3.
Source and Amount of Funds or Other Consideration
Item 3 is hereby amended and supplemented as follows:
The 2026 July GRAT acquired beneficial ownership of 5,000,000 shares of Class B Common Stock when Mr. Ergen contributed such shares of Class B Common Stock to the 2026 July GRAT on July 20, 2026. Mr. Ergen established the 2026 July GRAT for estate planning purposes. Shares of Class B Common Stock may be exchanged for shares of Class A Common Stock on a one-for-one basis at any time.
The Reporting Persons may from time to time acquire shares of Class A Common Stock for investment purposes. Such Class A Common Stock may be acquired with personal funds or funds borrowed by the Reporting Persons.
Item 4.
Purpose of Transaction
Item 4 is hereby amended and supplemented as follows:
As described in Item 3 above, Mr. Ergen contributed 5,000,000 shares of Class B Common Stock to the 2026 July GRAT on July 20, 2026. Mr. Ergen established the 2026 July GRAT for estate planning purposes. Under the trust agreement establishing the 2026 July GRAT, Mr. Ergen's spouse, Cantey M. Ergen, serves as trustee of the 2026 July GRAT and holds sole voting and dispositive power over the 5,000,000 shares of Class B Common Stock held by the 2026 July GRAT, except as set forth in Item 6. Mr. Ergen receives an annual annuity amount from the 2026 July GRAT under the trust agreement governing the 2026 July GRAT. Members of Mr. and Mrs. Ergen's family are the beneficiaries of the 2026 July GRAT. The 2026 July GRAT is scheduled to expire on July 20, 2028.
.
Item 5.
Interest in Securities of the Issuer
(a)
Items 5(a)-(e) are hereby amended and supplemented as follows:
This filing is for the cumulative share holdings of an affiliated group as of the close of business on July 20, 2026. See Items 11 and 13 of the cover pages to this Amendment No. 68 for the aggregate number of shares of Class A Common Stock and percentage of Class A Common Stock beneficially owned by each of the Reporting Persons. The Reporting Persons' beneficial ownership of shares of Class A Common Stock excludes 313,649 shares of Class A Common Stock held by certain trusts established by Mr. Ergen for the benefit of his family. Mr. Ergen and Mrs. Ergen disclaim beneficial ownership of the 2,350,696 shares of Class A Common Stock and 76,457,283 shares of Class B Common Stock held by Telluray Holdings, except to the extent of their pecuniary interest. Mr. Ergen disclaims beneficial ownership of the 1,551,355 shares of Class A Common Stock held by CONX, except to the extent of his pecuniary interest.
(b)
See Items 7 through 10 of the cover pages to this Amendment No. 68 for the number of shares of Class A Common Stock beneficially owned by each of the Reporting Persons as to which there is sole power to vote or to direct the vote, shared power to vote or to direct the vote and sole or shared power to dispose or to direct the disposition.
(c)
The Reporting Persons have not effected any transactions in the Class A Common Stock of EchoStar in the last sixty days other than: (i) as described herein; and (ii) as reflected in Amendment No. 65, Amendment No. 66 and Amendment No. 67 to this Schedule 13D.
(d)
Not applicable.
(e)
Not applicable.
Item 6.
Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
Item 6 is hereby amended and supplemented as follows:
Except as disclosed below, none of Mr. Ergen, Mrs. Ergen, the 2025 May GRAT, the 2025 June GRAT, the 2025 July GRAT, the 2026 June GRAT, the 2026 July GRAT or Telluray Holdings is a party to any contracts, arrangements, understandings or relationships, including but not limited to, transfer or voting of any of the securities, finders' fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies nor are any of the securities pledged or otherwise subject to a contingency the occurrence of which would give another person voting power or investment power over such securities.
Each of the trust agreements for the 2025 May GRAT, the 2025 June GRAT, the 2025 July GRAT, the 2026 June GRAT and the 2026 July GRAT contains an irrevocable provision that provides that the trustee will not dispose of any shares of EchoStar held by the 2025 May GRAT, the 2025 June GRAT, the 2025 July GRAT, the 2026 June GRAT or the 2026 July GRAT, respectively, unless a Change of Control Event occurs. If a Change of Control Event occurs, the trustee of each of the 2025 May GRAT, the 2025 June GRAT, the 2025 July GRAT, the 2026 June GRAT and the 2026 July GRAT will have sole discretion with respect to the disposition of any shares of EchoStar held by the 2025 May GRAT, the 2025 June GRAT, the 2025 July GRAT, the 2026 June GRAT and the 2026 July GRAT, respectively.
A 'Change of Control Event' will occur if: (i) as the result of a transaction or a series of transactions any person other than Charles W. Ergen (or a Related Party) individually owns more than fifty percent (50 percent) of the total equity interests of either (A) EchoStar or (B) the surviving entity in any such transaction(s) or a controlling affiliate of such surviving entity in such transaction(s); and (ii) a majority of the members of the Board of Directors of EchoStar are no longer Continuing Directors; and (iii) as the result of a transaction or a series of transactions any person other than Charles W. Ergen (or a Related Party) individually owns more than fifty percent (50 percent) of the total voting power of either (A) EchoStar or (B) the surviving entity in any such transaction(s) or a controlling affiliate of such surviving entity in such transaction(s); and (iv) Charles W. Ergen sells Equity Interests such that he owns beneficially less than 50 percent of the total equity interests that he owned beneficially immediately following the grant of shares to the 2025 May GRAT, the 2025 June GRAT, the 2025 July GRAT, the 2026 June GRAT or the 2026 July GRAT, as applicable.
For purposes of the definition of 'Change of Control Event'
'Continuing Director' means, as of any date of determination, any member of the Board of Directors of EchoStar who: (a) was a member of such Board of Directors on the date on which the applicable grantor retained annuity trust was established; or (b) was nominated for election or elected to such Board of Directors either (x) with the affirmative vote of a majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination or election or (y) by Charles W. Ergen and his Related Parties.
'Equity Interest' means any capital stock of EchoStar and all warrants, options or other rights to acquire capital stock of EchoStar (but excluding any debt security that is convertible into, or exchangeable for, capital stock of EchoStar).
'Related Party' means, (a) Charles W. Ergen's spouse and each of his immediate family members; (b) each trust, corporation, partnership or other entity of which Charles W. Ergen beneficially holds an eighty percent (80 percent) or more controlling interest or that was created for estate planning purposes including without limitation the grantor retained annuity trusts; and (c) the personal representatives, administrators, executor, guardians, or any person(s) or entit(ies) to which Charles W. Ergen's shares of EchoStar are transferred as a result of a transfer by will or the applicable laws of descent and distribution.
Item 7.
Material to be Filed as Exhibits.
Exhibit A: Agreement of Joint Filing
Exhibit B: Power of Attorney for Charles W. Ergen (incorporated by reference from Exhibit B to the Reporting Person's Schedule 13D dated November 30, 2020 and filed with the Securities and Exchange Commission on December 1, 2020)
Exhibit C: Power of Attorney for Cantey M. Ergen (incorporated by reference from Exhibit C to the Reporting Person's Schedule 13D dated November 30, 2020 and filed with the Securities and Exchange Commission on December 1, 2020)
Exhibit D: Power of Attorney for Telluray Holdings, LLC (incorporated by reference from Exhibit J to the Reporting Person's Schedule 13D dated November 30, 2020 and filed with the Securities and Exchange Commission on December 1, 2020)
Exhibit E: Amended and Restated Support Agreement dated as of October 2, 2023 (incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K of EchoStar Corporation dated October 3, 2023 and filed with the Securities and Exchange Commission on October 3, 2023 (File No. 001-33807))
Exhibit F: Registration Rights Agreement, dated as of December 31, 2023, among EchoStar Corporation, Charles W. Ergen, Cantey M. Ergen and other signatories thereto (incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K of EchoStar Corporation dated December 31, 2023 and filed with the Securities and Exchange Commission on January 2, 2024 (File No. 001-33807))
Exhibit G: Power of Attorney for Two-Year May 2025 SATS GRAT (incorporated by reference from Exhibit L to the Reporting Person's Schedule 13D dated May 13, 2025 and filed with the Securities and Exchange Commission on May 15, 2025)
Exhibit H: Power of Attorney for Two-Year June 2025 SATS GRAT (incorporated by reference from Exhibit L to the Reporting Person's Schedule 13D dated June 26, 2025 and filed with the Securities and Exchange Commission on June 30, 2025)
Exhibit I: Power of Attorney for Two-Year July 2025 SATS GRAT (incorporated by reference from Exhibit L to the Reporting Person's Schedule 13D dated July 29, 2025 and filed with the Securities and Exchange Commission on July 31, 2025)
Exhibit J: Power of Attorney for Two-Year June 2026 SATS GRAT (incorporated by reference from Exhibit K to the Reporting Person's Schedule 13D dated June 15, 2026 and filed with the Securities and Exchange Commission on June 17, 2026)
Exhibit K: Power of Attorney for Two-Year July 2026 ECHO GRAT
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Charles W. Ergen
Signature:
/s/ Robert J. Hooke
Name/Title:
Charles W. Ergen by Robert J. Hooke, attorney-in-fact
Date:
07/22/2026
Cantey M. Ergen
Signature:
/s/ Robert J. Hooke
Name/Title:
Cantey M. Ergen by Robert J. Hooke, attorney-in-fact
Date:
07/22/2026
Ergen Two-Year May 2025 SATS GRAT
Signature:
/s/ Robert J. Hooke
Name/Title:
Cantey M. Ergen, Trustee by Robert J. Hooke, attorney-in-fact
Date:
07/22/2026
Ergen Two-Year June 2025 SATS GRAT
Signature:
/s/ Robert J. Hooke
Name/Title:
Cantey M. Ergen, Trustee by Robert J. Hooke, attorney-in-fact
Date:
07/22/2026
Ergen Two-Year July 2025 SATS GRAT
Signature:
/s/ Robert J. Hooke
Name/Title:
Cantey M. Ergen, Trustee by Robert J. Hooke, attorney-in-fact
Date:
07/22/2026
Ergen Two-Year June 2026 SATS GRAT
Signature:
/s/ Robert J. Hooke
Name/Title:
Cantey M. Ergen, Trustee by Robert J. Hooke, attorney-in-fact
Date:
07/22/2026
Ergen Two-Year July 2026 ECHO GRAT
Signature:
/s/ Robert J. Hooke
Name/Title:
Cantey M. Ergen, Trustee by Robert J. Hooke, attorney-in-fact
Date:
07/22/2026
Telluray Holdings, LLC
Signature:
/s/ Robert J. Hooke
Name/Title:
Cantey M. Ergen, Manager by Robert J. Hooke, attorney-in-fact
