EchoStar (SATS) chair Charles Ergen logs 4.63M Class B share gifts via SATS GRATs

Rhea-AI Filing Summary

EchoStar CORP insiders Charles W. Ergen and Cantey M. Ergen reported internal equity transfers involving Class B Common Stock of SATS on June 26, 2026. The Form 4 shows two bona fide gift transactions totaling 4,633,066 Class B shares, structured as derivative positions convertible into an equal number of Class A shares for no additional consideration.

According to the disclosures, the Ergen Two-Year June 2025 SATS GRAT distributed 2,316,533 Class B shares to Mr. Ergen as an annuity payment on June 26, 2026, and held 14,483,467 Class B shares afterward. Other SATS GRATs established in 2024 and 2025 together hold tens of millions of Class B shares, while additional direct and indirect positions in Class A Common Stock remain. The filing records no open‑market purchases or sales; activity consists of gifts and trust-related movements.

Insights

Equity ownership & governance analyst

Form 4 shows trust‑driven gifts and reallocations, not market buying or selling.

The Form 4 for EchoStar CORP details Charles and Cantey Ergen’s complex holdings in Class A and Class B shares, including GRATs and LLC structures. The only transactional entries are two bona fide gifts totaling 4,633,066 Class B shares tied to a GRAT annuity distribution.

Several Ergen SATS GRATs collectively hold large Class B positions that are convertible into Class A shares at no additional cost, but these remain outstanding. Because there are no open‑market purchases or sales and the filing mainly documents estate and trust arrangements, the near‑term informational value for public shareholders is limited.

Insider Trade Summary

4,633,066 shares gifted

Mixed 15 txns

Insider ERGEN CHARLES W, ERGEN CANTEY

Role CHAIRMAN, PRES and CEO | null

Type	Security	Shares	Price	Value
Gift	Class B Common Stock	2,316,533	$0.00	--
Gift	Class B Common Stock	2,316,533	$0.00	--
holding	Class B Common Stock	--	--	--
holding	Class B Common Stock	--	--	--
holding	Class B Common Stock	--	--	--
holding	Class B Common Stock	--	--	--
holding	Class B Common Stock	--	--	--
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class B Common Stock — 14,483,467 shares (Indirect, I); Class B Common Stock — 2,388,447 shares (Direct, null); Class A Common Stock — 11,140,269 shares (Direct, null); Class A Common Stock — 11,404 shares (Indirect, I)

Footnotes (1)

1. By 401(K). Held by Mrs. Cantey M. Ergen, Mr. Ergen's spouse. Held by Mrs. Ergen in a 401(k) account. The shares are owned beneficially by the reporting persons' child. The reporting persons disclaim beneficial ownership of the shares, except to the extent of their pecuniary interest therein. The shares are held by a charitable foundation. The reporting persons are officers of the charitable foundation and share voting and dispositive power for the foundation. The reporting persons disclaim beneficial ownership of the shares, except to the extent of their pecuniary interest therein. The shares are held by Telluray Holdings, LLC. Mr. Ergen and Mrs. Ergen are the managers of Telluray Holdings, LLC. Mrs. Ergen, as a manager of Telluray Holdings, LLC, has sole voting power over the Class A shares and Class B shares held by Telluray Holdings, LLC, and Mr. Ergen and Mrs. Ergen, as the managers of Telluray Holdings, LLC, share dispositive power over the Class A shares and Class B shares held by Telluray Holdings, LLC. The reporting persons disclaim beneficial ownership of the shares, except to the extent of their pecuniary interest therein. These shares are beneficially owned indirectly by Mr. Ergen through nXgen Opportunities, LLC, which controls CONX Corp. The reporting persons disclaim beneficial ownership of the shares except to the extent of their pecuniary interest therein. The holder of Class B shares may elect to convert any or all of their Class B shares into an equal number of Class A shares at any time for no additional consideration. Pursuant to the terms of the Ergen Two-Year June 2025 SATS GRAT (the "2025 June GRAT"), on June 26, 2026, the 2025 June GRAT distributed 2,316,533 Class B shares held by the 2025 June GRAT as an annuity payment to Mr. Ergen. Following this distribution, the 2025 June GRAT holds 14,483,467 Class B shares. The 2025 June GRAT is scheduled to expire in accordance with its terms on June 26, 2027. Mrs. Cantey M. Ergen serves as the trustee of the 2025 June GRAT. On July 10, 2024, Mr. Ergen established the Ergen Two-Year July 2024 SATS GRAT (the "2024 July GRAT") and contributed 26,500,000 Class B shares to the 2024 July GRAT. The 2024 July GRAT currently holds 18,561,842 Class B shares. The 2024 July GRAT is scheduled to expire in accordance with its terms on July 10, 2026. Mrs. Cantey M. Ergen serves as the trustee of the 2024 July GRAT. On May 13, 2025, Mr. Ergen established the Ergen Two-Year May 2025 SATS GRAT (the "2025 May GRAT") and contributed 26,000,000 Class B shares to the 2025 May GRAT. The 2025 May GRAT currently holds 23,097,210 Class B shares. The 2025 May GRAT is scheduled to expire in accordance with its terms on May 13, 2027. Mrs. Cantey M. Ergen serves as the trustee of the 2025 May GRAT. On July 29, 2025, Mr. Ergen established the Ergen Two-Year July 2025 SATS GRAT (the "2025 July GRAT") and contributed 8,000,000 Class B shares to the 2025 July GRAT. The 2025 July GRAT is scheduled to expire in accordance with its terms on July 29, 2027. Mrs. Cantey M. Ergen serves as the trustee of the 2025 July GRAT. On June 15, 2026, Mr. Ergen established the Ergen Two-Year June 2026 SATS GRAT (the "June 2026 GRAT") and contributed 4,300,000 Class B shares to the June 2026 GRAT. The June 2026 GRAT is scheduled to expire in accordance with its terms on June 15, 2028. Mrs. Cantey M. Ergen serves as the trustee of such GRAT.

Key Figures

Total gifted Class B shares: 4,633,066 shares June 2025 SATS GRAT distribution: 2,316,533 Class B shares June 2025 SATS GRAT remaining holdings: 14,483,467 Class B shares +5 more

8 metrics

Total gifted Class B shares 4,633,066 shares Two bona fide gift transactions on June 26, 2026

June 2025 SATS GRAT distribution 2,316,533 Class B shares Annuity payment to Charles Ergen on June 26, 2026

June 2025 SATS GRAT remaining holdings 14,483,467 Class B shares Held after June 26, 2026 annuity distribution

July 2024 SATS GRAT holdings 18,561,842 Class B shares Current balance disclosed for July 2024 GRAT

May 2025 SATS GRAT holdings 23,097,210 Class B shares Current balance disclosed for May 2025 GRAT

June 2026 SATS GRAT contribution 4,300,000 Class B shares Contributed on June 15, 2026

Direct Class A holdings 11,140,269 shares Class A Common Stock held directly after reported transactions

Largest indirect Class B block 60,517,502 underlying shares Class B Common Stock convertible into Class A, indirect ownership

Key Terms

bona fide gift, GRAT, pecuniary interest, dispositive power, +2 more

6 terms

bona fide gift financial

"transaction_code_description": "Bona fide gift""

A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.

GRAT financial

"Ergen Two-Year June 2025 SATS GRAT (the "2025 June GRAT")"

pecuniary interest financial

"disclaim beneficial ownership of the shares, except to the extent of their pecuniary interest therein"

dispositive power financial

"share voting and dispositive power for the foundation"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

Class B Common Stock financial

"security_title": "Class B Common Stock""

A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.

beneficial ownership financial

"These shares are beneficially owned indirectly by Mr. Ergen"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/30/2026 - 06:58 PM Accepted by SEC EDGAR 06/30/2026 - 06:58 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^*

ERGEN CHARLES 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 [ ECHO ]

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

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	CHAIRMAN, PRES and CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/26/2026

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

	Form filed by One Reporting Person
X	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
Class A Common Stock								11,140,269	D
Class A Common Stock								11,404	I	I(1)
Class A Common Stock								1,967	I	I(2)
Class A Common Stock								1,313	I	I(3)
Class A Common Stock								11,921	I	I(4)
Class A Common Stock								766,443	I	I(5)
Class A Common Stock								2,350,696	I	I(6)
Class A Common Stock								1,551,355	I	I(7)

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
Class B Common Stock	(8)	06/26/2026		G(9)			2,316,533	(8)	(8)	Class A Common Stock	2,316,533	$0	14,483,467	I	I(9)
Class B Common Stock	(8)	06/26/2026		G(9)		2,316,533		(8)	(8)	Class A Common Stock	2,316,533	$0	2,388,447	D
Class B Common Stock	(8)							(8)	(8)	Class A Common Stock	60,517,502		60,517,502	I	I(6)
Class B Common Stock	(8)							(8)	(8)	Class A Common Stock	18,561,842		18,561,842	I	I(10)
Class B Common Stock	(8)							(8)	(8)	Class A Common Stock	23,097,210		23,097,210	I	I(11)
Class B Common Stock	(8)							(8)	(8)	Class A Common Stock	8,000,000		8,000,000	I	I(12)
Class B Common Stock	(8)							(8)	(8)	Class A Common Stock	4,300,000		4,300,000	I	I(13)

1. Name and Address of Reporting Person^*

ERGEN CHARLES W

(Last) (First) (Middle)

9601 S. MERIDIAN BLVD.

(Street)

ENGLEWOOD COLORADO 80112

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	CHAIRMAN, PRES and CEO

1. Name and Address of Reporting Person^*

ERGEN CANTEY

(Last) (First) (Middle)

9601 S. MERIDIAN BLVD.

(Street)

ENGLEWOOD COLORADO 80112

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. By 401(K).

2. Held by Mrs. Cantey M. Ergen, Mr. Ergen's spouse.

3. Held by Mrs. Ergen in a 401(k) account.

4. The shares are owned beneficially by the reporting persons' child. The reporting persons disclaim beneficial ownership of the shares, except to the extent of their pecuniary interest therein.

5. The shares are held by a charitable foundation. The reporting persons are officers of the charitable foundation and share voting and dispositive power for the foundation. The reporting persons disclaim beneficial ownership of the shares, except to the extent of their pecuniary interest therein.

6. The shares are held by Telluray Holdings, LLC. Mr. Ergen and Mrs. Ergen are the managers of Telluray Holdings, LLC. Mrs. Ergen, as a manager of Telluray Holdings, LLC, has sole voting power over the Class A shares and Class B shares held by Telluray Holdings, LLC, and Mr. Ergen and Mrs. Ergen, as the managers of Telluray Holdings, LLC, share dispositive power over the Class A shares and Class B shares held by Telluray Holdings, LLC. The reporting persons disclaim beneficial ownership of the shares, except to the extent of their pecuniary interest therein.

7. These shares are beneficially owned indirectly by Mr. Ergen through nXgen Opportunities, LLC, which controls CONX Corp. The reporting persons disclaim beneficial ownership of the shares except to the extent of their pecuniary interest therein.

8. The holder of Class B shares may elect to convert any or all of their Class B shares into an equal number of Class A shares at any time for no additional consideration.

9. Pursuant to the terms of the Ergen Two-Year June 2025 SATS GRAT (the "2025 June GRAT"), on June 26, 2026, the 2025 June GRAT distributed 2,316,533 Class B shares held by the 2025 June GRAT as an annuity payment to Mr. Ergen. Following this distribution, the 2025 June GRAT holds 14,483,467 Class B shares. The 2025 June GRAT is scheduled to expire in accordance with its terms on June 26, 2027. Mrs. Cantey M. Ergen serves as the trustee of the 2025 June GRAT.

10. On July 10, 2024, Mr. Ergen established the Ergen Two-Year July 2024 SATS GRAT (the "2024 July GRAT") and contributed 26,500,000 Class B shares to the 2024 July GRAT. The 2024 July GRAT currently holds 18,561,842 Class B shares. The 2024 July GRAT is scheduled to expire in accordance with its terms on July 10, 2026. Mrs. Cantey M. Ergen serves as the trustee of the 2024 July GRAT.

11. On May 13, 2025, Mr. Ergen established the Ergen Two-Year May 2025 SATS GRAT (the "2025 May GRAT") and contributed 26,000,000 Class B shares to the 2025 May GRAT. The 2025 May GRAT currently holds 23,097,210 Class B shares. The 2025 May GRAT is scheduled to expire in accordance with its terms on May 13, 2027. Mrs. Cantey M. Ergen serves as the trustee of the 2025 May GRAT.

12. On July 29, 2025, Mr. Ergen established the Ergen Two-Year July 2025 SATS GRAT (the "2025 July GRAT") and contributed 8,000,000 Class B shares to the 2025 July GRAT. The 2025 July GRAT is scheduled to expire in accordance with its terms on July 29, 2027. Mrs. Cantey M. Ergen serves as the trustee of the 2025 July GRAT.

13. On June 15, 2026, Mr. Ergen established the Ergen Two-Year June 2026 SATS GRAT (the "June 2026 GRAT") and contributed 4,300,000 Class B shares to the June 2026 GRAT. The June 2026 GRAT is scheduled to expire in accordance with its terms on June 15, 2028. Mrs. Cantey M. Ergen serves as the trustee of such GRAT.

	/s/ Charles W. Ergen, by Daniel W. Conroy, Attorney-in-Fact	06/30/2026
	/s/ Cantey M. Ergen, by Daniel W. Conroy, Attorney-in-Fact	06/30/2026
	** 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 activity did EchoStar (SATS) report for Charles and Cantey Ergen?

The Form 4 reports two bona fide gift transactions totaling 4,633,066 Class B shares on June 26, 2026. These reflect movements tied to a SATS GRAT annuity distribution, with no open‑market purchases or sales disclosed in this filing.

How many Class B shares did the 2025 June SATS GRAT distribute in the EchoStar (SATS) filing?

The 2025 June SATS GRAT distributed 2,316,533 Class B shares to Charles Ergen as an annuity payment on June 26, 2026. After this distribution, the trust held 14,483,467 Class B shares, and it is scheduled to expire on June 26, 2027.

What Class B SATS GRAT positions are disclosed for EchoStar insiders?

The filing notes several SATS GRATs: a July 2024 GRAT that currently holds 18,561,842 Class B shares, a May 2025 GRAT holding 23,097,210 Class B shares, and a June 2026 GRAT funded with 4,300,000 Class B shares, each with specified expiration dates.

Are EchoStar (SATS) Class B shares convertible into Class A according to the Form 4?

Yes. The footnotes state that holders of Class B shares may elect to convert any or all of their Class B shares into an equal number of Class A shares at any time for no additional consideration, highlighting their economic equivalence aside from voting structure.

Does the EchoStar (SATS) Form 4 show any open-market stock sales or purchases by Charles Ergen?

No. The summarized data show zero buy and zero sell transactions. Activity is limited to two bona fide gifts involving 4,633,066 Class B shares and multiple holding entries documenting existing direct and indirect ownership positions.

How large is Charles Ergen’s direct Class A position in EchoStar (SATS)?

One line in the filing reports 11,140,269 Class A shares held directly following the reported transactions. Additional Class A exposure is held indirectly through family accounts, charitable foundations, LLC structures, and GRATs that own convertible Class B shares.