EchoStar (SATS) director Lisa Hershman receives 5,000 fully vested options

Rhea-AI Filing Summary

EchoStar CORP director Lisa W. Hershman received a grant of stock options covering 5,000 shares of Class A Common Stock. The non-employee director options have an exercise price of $120.60 per share and were fully vested on the grant date.

Following this grant, Hershman holds 5,000 stock options directly, with an expiration date of April 1, 2031. This is a compensation-related award, not an open-market purchase or sale of EchoStar common shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Hershman Lisa W.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Non-Employee Director Stock Option	5,000	$0.00	--

Holdings After Transaction: Non-Employee Director Stock Option — 5,000 shares (Direct)

Footnotes (1)

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Key Figures

Options granted: 5,000 options Exercise price: $120.60 per share Underlying shares: 5,000 shares +2 more

5 metrics

Options granted 5,000 options Non-Employee Director Stock Option grant

Exercise price $120.60 per share Exercise price for Class A Common Stock

Underlying shares 5,000 shares Class A Common Stock underlying the options

Expiration date April 1, 2031 Option expiration

Shares after transaction 5,000 options Total derivative holdings following grant

Key Terms

Non-Employee Director Stock Option, Class A Common Stock, Grant, award, or other acquisition, vested upon the date of the grant

4 terms

Non-Employee Director Stock Option financial

"security_title: "Non-Employee Director Stock Option""

Class A Common Stock financial

"underlying_security_title: "Class A Common Stock""

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

Grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition""

vested upon the date of the grant financial

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

Form 4 Insider Transactions: What Each Field Means →

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^*

Hershman Lisa W.

(Last) (First) (Middle)

9601 S. MERIDIAN BLVD.

(Street)

ENGLEWOOD COLORADO 80112

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

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

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

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

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

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	$120.6	04/01/2026		A		5,000		(1)	04/01/2031	Class A Common Stock	5,000	$0	5,000	D

Explanation of Responses:

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

	/s/ Lisa W. Hershman, by Dean A. Manson, Attorney-in-Fact	04/03/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did EchoStar (SATS) director Lisa Hershman report?

Director Lisa W. Hershman reported receiving a grant of 5,000 non-employee director stock options. These options relate to EchoStar Class A Common Stock and represent compensation, not an open-market purchase or sale of existing shares.

What is the exercise price of Lisa Hershman’s EchoStar (SATS) stock options?

The granted stock options have an exercise price of $120.60 per share. This is the price at which Hershman can buy EchoStar Class A Common Stock if she chooses to exercise the options in the future.

When do Lisa Hershman’s EchoStar (SATS) director stock options expire?

The non-employee director stock options granted to Lisa Hershman expire on April 1, 2031. She can choose to exercise these options any time before expiration, subject to the plan’s rules and her continued eligibility.

Are Lisa Hershman’s EchoStar (SATS) options subject to vesting?

The filing states the 5,000 stock options were 100% vested on the grant date. This means Hershman immediately gained the right to exercise all granted options, rather than waiting for them to vest over time.

How many EchoStar (SATS) options does Lisa Hershman hold after this grant?

After the reported grant, Lisa Hershman holds 5,000 stock options directly. These options represent the right to purchase 5,000 shares of EchoStar Class A Common Stock at the fixed exercise price of $120.60 per share.