EchoStar director exercises options for 5,000 shares

EchoStar director William David Wade exercised stock options to acquire additional shares.

Rhea-AI Filing Summary

EchoStar director William David Wade exercised stock options to acquire additional shares. On May 18, 2026, he exercised a Non-Employee Director Stock Option covering 5,000 shares of EchoStar Class A Common Stock at $24.49 per share, converting the option into common stock and leaving zero options remaining from that grant.

Following the exercise, Wade directly holds 5,324 shares of Class A Common Stock. He also indirectly holds 443 shares through a trust, as noted in the footnote. The filing shows no open-market sale of shares; it reflects a derivative exercise that increases his direct share ownership.

Insider Trade Summary

5,000 shares exercised/converted

Exercise 3 txns

Insider Wade William David

Role Director

Type	Security	Shares	Price	Value
Exercise	Non-Employee Director Stock Option	5,000	$0.00	$0.00
Exercise	Class A Common Stock	5,000	$24.49	$122K
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Non-Employee Director Stock Option — 0 contracts (Direct); Class A Common Stock — 5,324 shares (Direct); Class A Common Stock — 443 shares (Indirect, I)

Footnotes (2)

1. F1. By Trust.
2. F2. The shares underlying the option were 100% vested upon the date of grant.

Key Figures

Options exercised: 5,000 shares Option exercise price: $24.49 per share Direct holdings after exercise: 5,324 shares +2 more

5 metrics

Options exercised 5,000 shares Non-Employee Director Stock Option exercised on May 18, 2026

Option exercise price $24.49 per share Strike price of Non-Employee Director Stock Option

Direct holdings after exercise 5,324 shares Class A Common Stock directly owned after May 18, 2026 transaction

Indirect holdings 443 shares Class A Common Stock held indirectly by trust after transaction

Derivative position remaining 0 options Non-Employee Director Stock Option balance after 5,000-share exercise

Key Terms

Class A Common Stock, Non-Employee Director Stock Option, derivative security, indirect ownership, +1 more

5 terms

Class A Common Stock financial

"security_title: "Class A Common Stock" for Wade’s holdings and exercises"

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.

Non-Employee Director Stock Option financial

"security_title: "Non-Employee Director Stock Option" for the derivative security"

derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security""

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

indirect ownership financial

"ownership_type: "indirect" with footnote "By Trust." on 443 shares"

exercise price financial

"conversion_or_exercise_price: "24.4900" for the stock option exercise"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

FAQ

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

What insider transaction did EchoStar (SATS) director William David Wade report?

William David Wade reported exercising a stock option for 5,000 EchoStar Class A Common shares. This option exercise converts a derivative award into common stock and increases his direct equity ownership without showing any open-market sale in this filing.

How many EchoStar (SATS) shares did Wade acquire and at what price?

Wade exercised options for 5,000 Class A Common Stock shares at $24.49 per share. This represents the strike price of his Non-Employee Director Stock Option and reflects a compensation-related derivative exercise rather than an open-market purchase transaction.

What are William David Wade’s EchoStar (SATS) holdings after the reported transactions?

After the transactions, Wade directly holds 5,324 EchoStar Class A Common Stock shares. He also indirectly holds 443 additional shares through a trust, giving him both direct and trust-based exposure according to the ownership details in the filing.

Did William David Wade sell any EchoStar (SATS) shares in this Form 4 filing?

The Form 4 does not show any open-market sale of EchoStar shares. It reports an option exercise coded “M,” where 5,000 options were converted into Class A Common Stock, increasing Wade’s direct holdings instead of reducing them through a sale.

What does the Non-Employee Director Stock Option for EchoStar (SATS) represent?

The Non-Employee Director Stock Option was a derivative security giving Wade the right to buy 5,000 EchoStar Class A shares at $24.49. Exercising this option eliminated the derivative position and replaced it with actual common stock ownership in the company.

How are Wade’s indirect EchoStar (SATS) holdings structured in this filing?

The filing lists 443 EchoStar Class A shares as indirectly owned by Wade, noted in the footnote as “By Trust.” This indicates those shares are held through a trust arrangement rather than in his direct personal brokerage account.

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

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Accepted by SEC EDGAR 05/20/2026 - 05:15 PM EDT 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^*

Wade William David

(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)
05/18/2026

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
Class A Common Stock	05/18/2026		M		5,000	A	$24.49	5,324	D
Class A Common Stock								443	I	I(1)

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	$24.49	05/18/2026		M			5,000	(2)	07/01/2026	Class A Common Stock	5,000	$0	0	D

Explanation of Responses:

1. By Trust.

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

	/s/ David W. Wade, by Dean A. Manson, Attorney-in-Fact	05/20/2026
	** 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)