[Form 4] EchoStar Corporation Insider Trading Activity

Rhea-AI Filing Summary

EchoStar Corporation (SATS) filed a Form 4 indicating a new equity grant to President, Technology & Chief Operating Officer John Swieringa. On 06/26/2025 Swieringa received 250,000 Restricted Stock Units (RSUs), each convertible into one share of Class A common stock. The RSUs were issued at no cost to the executive and will vest 20 % annually beginning 10/01/2025, fully vesting after five years.

The filing shows no open-market purchases or sales; it is solely an equity award that increases Swieringa’s derivative holdings to 250,000 RSUs. Ownership is reported as direct, and no other indirect positions are disclosed. There is no accompanying cash compensation data or performance criteria detailed in the form.

Investor takeaways:

• The size of the award signals EchoStar’s intent to retain and incentivize a key C-suite executive following the company’s strategic initiatives.
• Because RSUs settle in shares, future share issuance will have a dilutive effect, albeit limited relative to EchoStar’s total shares outstanding.
• No insider selling is reported, removing immediate concerns about negative insider sentiment.

Positive

• Significant RSU grant strengthens executive retention and aligns COO incentives with shareholder interests.
• No insider sales reported, which can be interpreted as continued confidence in EchoStar’s prospects.

Negative

• Potential dilution of up to 250,000 shares once RSUs vest and settle.
• No performance conditions attached to RSUs, limiting direct linkage between pay and long-term value creation.

Insights

Securities Analyst

TL;DR: 250k RSU grant aligns COO with shareholders; minimal near-term impact, mild dilution long-term.

This Form 4 is a routine equity incentive. A five-year vesting schedule encourages operational focus and executive retention. While 250,000 shares appear large, EchoStar’s average daily volume and share count suggest the eventual dilution is unlikely to be material. The absence of sales supports a neutral-to-slightly-positive insider signal. From a valuation standpoint, the grant has negligible EPS impact today but improves management alignment, which can bolster investor confidence during ongoing strategic projects.

Corporate Governance Expert

TL;DR: Governance-friendly grant structure; long vesting supports retention, no 10b5-1 noted.

The single-line filing shows a straightforward RSU award without performance conditions. While time-based vesting is common, investors may prefer performance-linked metrics for stronger pay-for-performance alignment. The five-year schedule, however, curbs short-term risk-taking. No 10b5-1 plan is referenced, and no waivers appear, reducing complexity. Overall governance impact is neutral: the grant is conventional, transparent, and appropriately disclosed.

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^*

Swieringa John

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	PRES, TECH & COO

3. Date of Earliest Transaction (Month/Day/Year)
06/26/2025

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

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
Restricted Stock Units	(1)	06/26/2025		A		250,000		(2)	(2)	Class A Common Stock	250,000	$0	250,000	D

Explanation of Responses:

1. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Class A Common Stock of the Issuer, which will be issued to the Reporting Person immediately upon vesting.

2. The shares underlying the RSUs are scheduled to vest at a rate of 20% per year, commencing October 1, 2025.

	/s/ John Swieringa, by Dean A. Manson, Attorney-in-Fact	06/30/2025
	** 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.

FAQ

What did EchoStar (SATS) disclose in the latest Form 4?

The company awarded 250,000 RSUs to President & COO John Swieringa on 06/26/2025.

When will the 250,000 RSUs granted to John Swieringa vest?

The RSUs vest at 20 % per year beginning 10/01/2025, fully vesting after five years.

Does the Form 4 show any insider selling of SATS shares?

No. The filing only reports an acquisition of RSUs; there are no sales or disposals.

How does the RSU award affect EchoStar’s share count?

Upon vesting, 250,000 new shares will be issued, causing limited dilution relative to total shares outstanding.

Is the RSU grant tied to a Rule 10b5-1 trading plan?

The filing does not indicate that the transaction was made under a Rule 10b5-1 plan.