SATS Form 144: 2,089 Class A shares planned sale on NASDAQ

Rhea-AI Filing Summary

Form 144 notice reports a proposed sale of 2,089 Class A shares on NASDAQ with an aggregate market value of $113,223.80 and approximately 156,367,964 shares outstanding. The filing lists the securities to be sold as Class A shares to be executed around 08/26/2025 through Fidelity Brokerage Services LLC in Smithfield, RI. The listed acquisition history shows these shares were acquired over time via the company ESPP purchases and restricted stock vesting between 12/31/2014 and 01/01/2023, with payments recorded as cash or compensation for vesting events. The filing discloses no securities sold in the past three months.

Positive

• Planned sale amount disclosed: 2,089 Class A shares and aggregate market value of $113,223.80 are explicitly provided
• Acquisition history provided: Detailed ESPP purchase and restricted stock vesting history from 2014–2023 supports provenance for resale under Rule 144
• Broker and execution details listed: Fidelity Brokerage Services LLC identified as the executing broker and NASDAQ as the exchange

Negative

• Missing issuer/filer identifiers in extract: The provided content does not include a named issuer or filer CIK values in the issuer/filer sections
• Small position relative to outstanding shares: 2,089 shares represent a de minimis amount versus 156,367,964 shares outstanding (unlikely to be market-moving)

Insights

Financial Analyst

TL;DR: Routine insider sale notice; small position relative to outstanding shares, no recent sales reported.

The Form 144 documents a proposed sale of 2,089 Class A shares valued at $113,223.80. Relative to the reported 156,367,964 shares outstanding, this represents a de minimis fraction of the float and is unlikely to materially affect market supply or valuation. The acquisition history—primarily ESPP purchases and periodic restricted stock vesting from 2014–2023—matches common employee liquidity activity. No securities were reported sold in the prior three months, indicating this is a new planned disposition rather than a continued selling pattern.

Corporate Governance Expert

TL;DR: Disclosure is consistent with Rule 144 requirements but lacks some issuer/filer identifiers in the provided extract.

The filing lists broker details and the planned sale schedule, and includes an explicit representation regarding material nonpublic information tied to the signature section. However, the provided content extract does not show the issuer name or filer CIK values in the issuer and filer information sections, which are ordinarily expected in a complete filing. The acquisition table clearly attributes acquisitions to ESPP purchases and vesting, supporting compliance with provenance requirements for resales under Rule 144.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Class A	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	2089	113223.80	156367964	08/26/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Class A	12/31/2014	ESPP Purchase	Issuer			1	12/31/2014	Cash
Class A	03/31/2015	ESPP Purchase	Issuer			29	03/31/2015	Cash
Class A	06/30/2016	ESPP Purchase	Issuer			45	06/30/2016	Cash
Class A	09/30/2016	ESPP Purchase	Issuer			43	09/30/2016	Cash
Class A	12/30/2016	ESPP Purchase	Issuer			35	12/30/2016	Cash
Class A	03/31/2017	ESPP Purchase	Issuer			37	03/31/2017	Cash
Class A	06/30/2017	ESPP Purchase	Issuer			32	06/30/2017	Cash
Class A	09/29/2017	ESPP Purchase	Issuer			43	09/29/2017	Cash
Class A	12/29/2017	ESPP Purchase	Issuer			42	12/29/2017	Cash
Class A	03/29/2018	ESPP Purchase	Issuer			62	03/29/2018	Cash
Class A	06/29/2018	ESPP Purchase	Issuer			60	06/29/2018	Cash
Class A	09/28/2018	ESPP Purchase	Issuer			123	09/28/2018	Cash
Class A	03/29/2019	ESPP Purchase	Issuer			75	03/29/2019	Cash
Class A	06/28/2019	ESPP Purchase	Issuer			53	06/28/2019	Cash
Class A	09/30/2019	ESPP Purchase	Issuer			70	09/30/2019	Cash
Class A	12/16/2019	Restricted Stock Vesting	Issuer			40	12/16/2019	Compensation
Class A	12/31/2019	ESPP Purchase	Issuer			56	12/31/2019	Cash
Class A	03/31/2020	ESPP Purchase	Issuer			119	03/31/2020	Cash
Class A	06/30/2020	ESPP Purchase	Issuer			59	06/30/2020	Cash
Class A	07/01/2020	Restricted Stock Vesting	Issuer			25	07/01/2020	Compensation
Class A	09/30/2020	ESPP Purchase	Issuer			76	09/30/2020	Cash
Class A	12/31/2020	ESPP Purchase	Issuer			67	12/31/2020	Cash
Class A	03/31/2021	ESPP Purchase	Issuer			137	03/31/2021	Cash
Class A	06/30/2021	ESPP Purchase	Issuer			69	06/30/2021	Cash
Class A	09/30/2021	ESPP Purchase	Issuer			21	09/30/2021	Cash
Class A	01/01/2022	Restricted Stock Vesting	Issuer			125	01/01/2022	Compensation
Class A	03/31/2022	ESPP Purchase	Issuer			117	03/31/2022	Cash
Class A	06/30/2022	ESPP Purchase	Issuer			207	06/30/2022	Cash
Class A	09/30/2022	ESPP Purchase	Issuer			97	09/30/2022	Cash
Class A	01/01/2023	Restricted Stock Vesting	Issuer			124	01/01/2023	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 filed for SATS disclose about the proposed sale?

The notice discloses a proposed sale of 2,089 Class A shares with an aggregate market value of $113,223.80, to be sold on or about 08/26/2025 on NASDAQ through Fidelity Brokerage Services LLC.

How were the shares being sold originally acquired?

The shares were acquired primarily through the company's Employee Stock Purchase Plan (ESPP) and periodic restricted stock vesting events between 12/31/2014 and 01/01/2023, paid with cash or recorded as compensation for vesting.

Does the filing report any securities sold in the past three months?

No. The filing explicitly states "Nothing to Report" for securities sold during the past three months by the reporting person.

Who is the executing broker and where will the sale occur?

The executing broker is listed as Fidelity Brokerage Services LLC (900 Salem Street, Smithfield, RI) and the sale is to occur on NASDAQ.

Is there any indication of material nonpublic information in this notice?

By signing, the reporting person represents they do not know any material adverse information not publicly disclosed; the filing contains that representation but does not itself disclose any material nonpublic facts.