EchoStar CORP director acquires 1,754 Class A shares at $92.17

EchoStar CORP director George R. Brokaw reported a stock transaction involving the company’s Class A common stock.

Rhea-AI Filing Summary

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.

Insider Trade Summary

1,754 shares exercised/converted

Exercise 2 txns

Insider Brokaw George R

Role Director

Type	Security	Shares	Price	Value
Exercise	Non-Employee Director Stock Option	1,754	$0.00	$0.00
Exercise	Class A Common Stock	1,754	$92.17	$162K

Holdings After Transaction: Non-Employee Director Stock Option — 0 contracts (Direct); Class A Common Stock — 4,508 shares (Direct)

Footnotes (1)

1. F1. The shares underlying the option were 100% vested upon the date of the grant.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did EchoStar CORP (SATS) report?

EchoStar CORP reported that director George R. Brokaw acquired 1,754 shares of its Class A common stock on 12/10/2025 at $92.17 per share.

How many EchoStar CORP Class A shares does George R. Brokaw own after the transaction?

Following the reported transaction, George R. Brokaw beneficially owned 4,508 shares of EchoStar CORP Class A common stock, held in direct ownership.

What stock option was involved in the EchoStar CORP director’s filing?

The filing lists a Non-Employee Director Stock Option with an exercise price of $92.17 covering 1,754 shares of Class A common stock. After the transaction, the number of these derivative securities beneficially owned was reported as 0.

Were the EchoStar CORP director’s option shares vested?

Yes. The explanation states that the shares underlying the option were 100% vested upon the date of the grant.

What is George R. Brokaw’s relationship to EchoStar CORP (SATS)?

The filing identifies George R. Brokaw as a Director of EchoStar CORP.

When did the EchoStar CORP insider transaction occur and when was the form signed?

The earliest transaction date reported is 12/10/2025, and the Form 4 was signed on 12/12/2025 by George R. Brokaw, through an attorney-in-fact.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 12/12/2025 - 05:49 PM Learn about SEC filing dates

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
Estimated average burden
hours per response:			0.5

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^*

Brokaw George R

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/10/2025

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	12/10/2025		M		1,754	A	$92.17	4,508	D

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
Non-Employee Director Stock Option	$92.17	12/10/2025		M			1,754	(1)	01/01/2026	Class A Common Stock	1,754	$0	0	D

Explanation of Responses:

1. The shares underlying the option were 100% vested upon the date of the grant.

	/s/ George R. Brokaw, by Dean A. Manson, Attorney-in-Fact	12/12/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.