[Form 4] EchoStar CORP Insider Trading Activity

Rhea-AI Filing Summary

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).

Positive

• 50,000 RSUs vested, converting compensation into direct equity ownership
• 60,000 employee stock options granted with a $79.50 exercise price and 10/01/2035 expiration, tying long-term upside to share performance
• Beneficial ownership increased to 327,634 Class A shares (direct), signaling greater insider alignment

Negative

• 22,125 shares withheld/disposed to cover tax obligations at $79.50, reducing net newly acquired shares
• Portion of holdings remain unvested (RSUs subject to future vesting rules and option vesting starts 10/01/2026), so full economic ownership is delayed

Insights

Corporate Insider / Compensation Analyst

Insider received equity compensation and increased direct stake to 327,634 shares.

The Form 4 shows a scheduled vesting of 50,000 RSUs and acquisition of a 60,000 employee stock option award at an exercise price of $79.50 expiring 10/01/2035. The RSU vesting and option grant are routine forms of executive compensation that convert future service into share ownership.

The filing also discloses 22,125 shares withheld to cover taxes at $79.50, a common administrative step that reduces net new shares received. The reporting clarifies that the reported total includes previously reported RSUs and purchases under the Employee Stock Purchase Plan.

Equity Markets / Governance Specialist

Transactions are material to insider alignment but not an extraordinary market-moving event.

Combined vesting and option grants increase the executives potential long-term stake and align compensation with share performance; the beneficial ownership reported is 327,634 shares direct plus 809 indirect. The tax-withheld disposition of 22,125 shares reduced immediately realized holdings but does not indicate an open-market sale.

The option vests over three years starting 10/01/2026, which creates a time-based retention element tied to future service.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Swieringa John

(Last) (First) (Middle)

9601 S. MERIDIAN BLVD.

(Street)

ENGLEWOOD CO 80112

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
EchoStar CORP [ SATS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	PRES, TECH & COO

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	10/01/2025		M		50,000	A	$0	327,634(1)(2)	D
Class A Common Stock	10/01/2025		F(3)		22,125	D	$79.5	305,509(1)(2)	D
Class A Common Stock								809	I	I(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to Buy)	$79.5	10/01/2025		A		60,000		(5)	10/01/2035	Class A Common Stock	60,000	$0	15,000	D
Restricted Stock Units	(6)	10/01/2025		M			50,000	(6)	(6)	Class A Common Stock	50,000	$0	0(1)	D

Explanation of Responses:

1. The reported transaction involved the reporting person's vesting of restricted stock units (RSUs) awarded on June 26, 2025 and previously reported in Table II of Form 4. The total reported in Column 5 of this Form 4 includes the 200,000 remaining RSUs from the June 26, 2025 award, 77,193 additional RSUs previously reported in Table II of Form 4, and 441 shares of Class A Common Stock. In future filings, any awards of RSUs will be reported in Table I by the Reporting Person and Column 5 of Table I will include unvested RSUs.

2. Includes shares acquired under the Company's Employee Stock Purchase Plan.

3. Represents shares withheld to cover certain tax obligations in connection with the vesting of the RSUs.

4. By 401(K).

5. The option vests in three equal annual installments beginning on October 1, 2026.

6. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Class A Common Stock of the Issuer, which will be issued to the Reporting Person immediately upon vesting.

	/s/ John W. Swieringa, by Dean A. Manson, Attorney-in-Fact	10/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider transactions did EchoStar (SATS) report for John W. Swieringa on 10/01/2025?

The Form 4 reports 50,000 RSUs vested, acquisition of a 60,000-share employee stock option at $79.50 (expiring 10/01/2035), and 22,125 shares were withheld to cover taxes.

How many shares does Swieringa beneficially own after the transactions?

Following the reported transactions, Swieringa beneficially owned 327,634 Class A shares directly and 809 shares indirectly via a 401(k).

Why were 22,125 shares disposed of in the Form 4?

The filing states 22,125 shares were withheld to cover tax obligations arising from RSU vesting; the disposition price shown is $79.50.

When do the new options vest and expire?

The employee stock option vests in three equal annual installments beginning 10/01/2026 and expires on 10/01/2035.

Do the reported RSUs convert to shares immediately on vesting?

Yes, each RSU represents a contingent right to one share and is issued to the reporting person immediately upon vesting, per the filing.