Echostar Corp SEC Filings

EchoStar Corp director and officer Hamid Akhavan reported exercising employee stock options for 285,832 shares of Class A common stock at an exercise price of $14.04 per share on December 11, 2025. On the same date, he reported multiple open-market sales of Class A common stock at weighted average sale prices described in the filing as ranging from $103.35 to $109.39, effected under a Rule 10b5-1 trading plan adopted on September 12, 2025.

After these transactions, Akhavan beneficially owns 376,805 Class A shares directly and 327 shares indirectly through a 401(k) plan. He also holds 122,500 employee stock options exercisable for Class A shares at $14.04 per share, expiring on April 1, 2034, with 60% of the underlying shares scheduled to vest 30% per year on April 1, 2025 and April 1, 2026.

EchoStar Corp director Tom A. Ortolf reported insider transactions dated 12/11/2025 involving Class A common stock. He exercised a non-employee director stock option for 1,754 shares at $92.17 per share and then sold 1,754 shares at $104.06. After these moves, he owned 3,698 Class A shares directly.

He also had indirect ownership of 70 Class A shares held by his child and 35,644 Class A shares held through a partnership. The option covered 1,754 shares of Class A common stock and the shares underlying the option were 100% vested upon the date of the grant, leaving no derivative securities owned directly after the exercise.

EchoStar CORP director George R. Brokaw reported a stock transaction involving the company’s Class A common stock. On 12/10/2025 he acquired 1,754 shares of Class A common stock at $92.17 per share in a transaction tied to a Non-Employee Director Stock Option with the same exercise price. After this transaction, he beneficially owned 4,508 shares of Class A common stock directly, and the reported stock option for 1,754 underlying shares showed zero derivative securities remaining. The filing notes that the shares underlying the option were 100% vested on the date of grant.

EchoStar Corporation (SATS)22,000 shares of Class A Common Stock in an open market sale coded "S" at a price of $67.34 per share. After this transaction, the executive directly holds 283,509 Class A shares, which include shares acquired under the company’s Employee Stock Purchase Plan, and indirectly holds 809 shares through a 401(k) plan. The filing is a Form 4 submitted for one reporting person and reflects a routine update to the insider’s ownership position.

EchoStar Corporation (SATS) director share purchase reported. A company director filed a Form 4 showing an open-market purchase of 1,000 shares of EchoStar Class A common stock on 11/18/2025 at a price of $68.07 per share, coded as a purchase transaction ("P"). Following this trade, the director now beneficially owns 2,754 shares of EchoStar Class A common stock held directly. No derivative security transactions were reported in this filing.

EchoStar (SATS) amended its spectrum sale with Space Exploration Technologies Corp., increasing total consideration to $19,616,737,853. The revised terms add the transfer of up to an aggregate 15 MHz of AWS spectrum in the 1695–1710 MHz band per relevant license area for additional consideration of $2,616,737,853, all payable in Purchaser’s Class A Common Stock valued at $212 per share. As amended, up to $11,116,737,853 of the total will be paid in Purchaser’s Class A Common Stock at $212 per share.

EchoStar also created a new division, EchoStar Capital. Effective November 6, 2025, Charles W. Ergen was appointed Chairman, President and Chief Executive Officer of EchoStar, and Hamid Akhavan became Chief Executive Officer of EchoStar Capital while remaining on the Board. The company disclosed no new or modified compensation arrangements for these appointments.

EchoStar Corporation reported a sharp Q3 downturn driven by a non-cash impairment. The company recorded impairments and other charges of $16.48 billion, leading to a Q3 net loss of $12.78 billion ($44.37 per share). Revenue was $3.61 billion, down from $3.89 billion a year ago, as service revenue softened.

EchoStar entered two major spectrum sale agreements. The AT&T License Purchase Agreement provides for $22.65 billion in cash for 3.45–3.55 GHz and 600 MHz licenses, with a $18.6 billion minimum, and is expected to close in the first half of 2026, subject to approvals. The SpaceX License Purchase Agreement contemplates $17 billion of consideration (plus $2 billion of interim debt service funding) for AWS‑4 and H‑Block spectrum, with closing targeted on or about November 30, 2027.

The company disclosed substantial doubt about its ability to continue as a going concern until these transactions close, citing $2.0 billion and $1.377 billion of debt maturing in July and August 2026 and potential Auction 113 payments up to $2.921 billion. Cash and marketable investments totaled $3.915 billion as of September 30, 2025. EchoStar also amended its AT&T network services agreement to support a Hybrid MNO model and noted an FCC letter indicating agency staff should conclude its investigation and confirm key spectrum rights.

Paul W. Orban, EVP and CFO of EchoStar Corp (SATS), reported a grant of 50,000 restricted stock units (RSUs) effective 10/01/2025. Each RSU converts to one share of Class A common stock upon vesting; the RSUs vest at 20% per year beginning 10/01/2026, implying a five‑year vesting schedule. The filing shows total beneficial ownership of 50,470 Class A shares after the award, which combines the new 50,000 RSUs and 470 existing shares held directly. The report was signed by an attorney‑in‑fact on behalf of Mr. Orban on 10/03/2025.

John W. Swieringa, President, Technology & COO of EchoStar Corp (SATS), reported multiple equity transactions dated 10/01/2025. He had 50,000 restricted stock units vest (recorded as acquired at $0) and 60,000 employee stock options were acquired with an exercise price of $79.50 and an expiration of 10/01/2035. The filing shows 22,125 shares were withheld and disposed to cover tax obligations at a price of $79.50. After these transactions, Swieringa beneficially owned 327,634 Class A shares (direct), which includes shares from RSU vesting and the Companys Employee Stock Purchase Plan; an additional 809 shares are held indirectly via a 401(k).