Ergen duo (SATS) gifts 8.6M Class B shares into SATS GRATs and entities
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
EchoStar CORP insiders Charles and Cantey Ergen reported estate-planning related share movements rather than market trades. The Form 4 shows bona fide gifts totaling 8,600,000 Class B Common Stock on June 15, 2026, split into two transactions of 4,300,000 shares each.
One 4,300,000-share gift moved Class B stock as an indirect holding, and another 4,300,000-share gift reduced the direct Class B position to 71,914 shares afterward. Footnotes explain that on June 15, 2026 Mr. Ergen created the Ergen Two-Year June 2026 SATS GRAT and contributed 4,300,000 Class B shares to this grantor retained annuity trust.
After these changes, the filing lists 11,140,269 Class A shares held directly and multiple large indirect Class B positions held through GRATs and entities such as Telluray Holdings, LLC and nXgen Opportunities, LLC. The Class B shares may be converted into an equal number of Class A shares at any time for no additional consideration.
Positive
- None.
Negative
- None.
Insider Trade Summary
8,600,000 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 | 4,300,000 | $0.00 | -- |
| Gift | Class B Common Stock | 4,300,000 | $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 — 71,914 shares (Direct, null);
Class B Common Stock — 4,300,000 shares (Indirect, I);
Class A Common Stock — 11,140,269 shares (Direct, null);
Class A Common Stock — 11,404 shares (Indirect, I)
Footnotes (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. 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 may elect to convert any or all of its Class B shares into an equal number of Class A shares at any time for no additional consideration. 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. 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 June 26, 2025, Mr. Ergen established the Ergen Two-Year June 2025 SATS GRAT (the "2025 June GRAT") and contributed 16,800,000 Class B shares to the 2025 June GRAT. 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 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 May 13, 2026, 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.
Key Figures
Gifted Class B shares: 8,600,000 shares
Single gift size: 4,300,000 shares
Direct Class B remaining: 71,914 shares
+4 more
7 metrics
Gifted Class B shares
8,600,000 shares
Total bona fide gifts on June 15, 2026
Single gift size
4,300,000 shares
Each of two Class B gift transactions
Direct Class B remaining
71,914 shares
Class B Common Stock held directly after gifts
Direct Class A holdings
11,140,269 shares
Class A Common Stock held directly
2025 May GRAT position
23,097,210 shares
Class B underlying Class A, held indirectly
Telluray-related position
60,517,502 shares
Class B underlying Class A, held indirectly
2024 July GRAT position
18,561,842 shares
Class B underlying Class A, held indirectly
Key Terms
bona fide gift, grantor retained annuity trust, 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.
grantor retained annuity trust financial
"established the Ergen Two-Year June 2026 SATS GRAT"
A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.
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.
FAQ
What insider activity did EchoStar (SATS) report in this Form 4?
EchoStar insiders Charles and Cantey Ergen reported bona fide gifts of Class B Common Stock. The filing shows two gift transactions of 4,300,000 shares each, totaling 8,600,000 Class B shares transferred on June 15, 2026 for estate-planning purposes.
What are the Ergens’ remaining direct holdings of EchoStar (SATS) stock?
Following the reported transactions, the filing lists 11,140,269 Class A Common Stock shares held directly. It also shows 71,914 Class B Common Stock shares held directly, with sizeable additional Class A and Class B positions held indirectly through various entities and trusts.
What is the Ergen Two-Year June 2026 SATS GRAT mentioned in the Form 4?
On June 15, 2026, Mr. Ergen established the Ergen Two-Year June 2026 SATS GRAT and contributed 4,300,000 Class B shares. The GRAT can convert its Class B shares into an equal number of Class A shares and is scheduled to expire on June 15, 2028 with Mrs. Cantey Ergen as trustee.