Echostar Corp SEC Filings

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).

EchoStar (SATS)15,000 employee stock options at an exercise price of $79.5 on October 1, 2025.

The options vest in three equal annual installments beginning on October 1, 2026 and expire on October 1, 2035. Following the grant, 15,000 derivative securities were beneficially owned, reported as Direct (D) ownership.

BlackRock, Inc. filed an amendment to a Schedule 13G disclosing beneficial ownership of 16,237,931 shares of EchoStar CORP common stock, representing 10.4% of the class. The filing shows BlackRock has sole voting power over 15,780,809 shares and sole dispositive power over all 16,237,931 shares. The statement indicates the shares are held by certain business units of BlackRock and are owned in the ordinary course of business, not for the purpose of changing or influencing control. The filing is signed by Spencer Fleming, Managing Director, and includes exhibits for Power of Attorney and Item 7 details.

EchoStar Corp director and President & CEO Hamid Akhavan reported option exercise and share sales on 09/12/2025. He exercised 233,918 employee stock options at an exercise price of $16.57, creating 233,918 Class A shares. Following the exercise, Akhavan sold those shares in two transactions: 170,824 shares at a weighted average price of $74.93 and 63,094 shares at a weighted average price of $76.50, together equal to the 233,918 shares acquired. After these transactions he beneficially owned 376,805 Class A shares directly and 327 shares indirectly via a 401(k). The option vests in three equal annual installments beginning December 31, 2024, and the exercised options have an expiration date of December 31, 2033.

Paul Gaske, identified as COO, HUGHES and a reporting person for EchoStar CORP (SATS), reported multiple transactions dated 09/12/2025. The Form 4 shows several dispositions of Class A common stock (codes S) at prices ranging from $75.63 to $78.32 and acquisitions recorded with code M at $14.04. Reported non-derivative activity includes sales of 750, 1,444, 2,964, 5,075 shares and acquisitions of 2,964 and 5,075 shares (as shown). Table II reports two employee stock option grants at an exercise price of $14.04 dated 09/12/2025: one for 2,964 options and one for 5,075, each exercisable on specified dates with expiration 04/01/2034. The filing includes vesting schedules: 40% of one option grant vested immediately with remaining vesting on April 1, 2025 and April 1, 2026; the other grant vests 25% per year from April 1, 2025 through April 1, 2028. The form is signed by Paul Gaske via attorney-in-fact on 09/16/2025.

John Swieringa, President, Technology & COO of EchoStar Corporation (SATS), reported multiple option grants, exercises and open-market sales on 09/09/2025. The filing shows several option exercises at exercise prices of $14.04 and $16.57 and contemporaneous open-market sales of Class A common stock at weighted average prices in the range of approximately $80.88–$81.48. Specific transactions include sales of 27,276; 63,840; 11,696; 16,936; and 35,087 shares and related option exercises or conversions for matching amounts. Following the reported transactions the filing lists a total of 140,352 derivative securities (options) beneficially owned across grants shown, and 432 shares reported as owned following several sales. Vesting schedules and performance conditions are disclosed for certain grants, including immediate vesting of 40% of one grant and performance-based vesting for another through 12/31/2026.