STOCK TITAN

[Form 4] EchoStar Corporation Insider Trading Activity

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
4
Rhea-AI Filing Summary

MP Materials Corp. (ticker: MP) filed a Form 4 on 06/30/2025 disclosing that director Connie K. Duckworth acquired 901 Deferred Stock Units (DSUs). The grant reflects her election to defer board cash retainers into equity. Each DSU converts 1-for-1 into common shares and is fully vested at issuance. Settlement will occur on the earlier of (i) June 15 of the year following five full calendar years after the retainer year, (ii) certain change-in-control events, or (iii) Duckworth’s separation from service.

The transaction was coded “A” (acquisition) at a cost basis of $0, typical for compensation-related equity awards. Following the grant, Duckworth’s direct beneficial ownership increases to 35,387 shares of MP common stock. No derivative securities were reported, and there were no dispositions or open-market purchases/sales.

While the share count added is modest relative to MP’s outstanding float, such insider accruals modestly strengthen board-shareholder alignment. From a valuation perspective, the grant is immaterial and unlikely to affect market perception or liquidity.

MP Materials Corp. (simbolo: MP) ha presentato un Modulo 4 il 30/06/2025 comunicando che la direttrice Connie K. Duckworth ha acquisito 901 Unità Azionarie Differite (DSU). Il conferimento riflette la sua scelta di differire i compensi in contanti del consiglio in equity. Ogni DSU si converte 1 a 1 in azioni ordinarie ed è completamente maturata al momento dell’emissione. Il regolamento avverrà alla prima delle seguenti date: (i) 15 giugno dell’anno successivo al completamento di cinque anni solari pieni dopo l’anno del compenso, (ii) in caso di determinati eventi di cambio di controllo, oppure (iii) alla separazione di Duckworth dal servizio.

La transazione è stata classificata come “A” (acquisizione) con un costo base di 0 $, tipico per premi azionari legati a compensi. Dopo il conferimento, la proprietà diretta di Duckworth aumenta a 35.387 azioni ordinarie di MP. Non sono stati segnalati titoli derivati, né vi sono state cessioni o acquisti/vendite sul mercato aperto.

Pur essendo il numero di azioni aggiunte modesto rispetto al flottante di MP, tali accumuli da parte degli insider rafforzano leggermente l’allineamento tra consiglio e azionisti. Dal punto di vista della valutazione, il conferimento è irrilevante e improbabile che influenzi la percezione del mercato o la liquidità.

MP Materials Corp. (símbolo: MP) presentó un Formulario 4 el 30/06/2025 revelando que la directora Connie K. Duckworth adquirió 901 Unidades de Acciones Diferidas (DSU). La concesión refleja su elección de diferir las remuneraciones en efectivo del consejo en acciones. Cada DSU se convierte 1 a 1 en acciones ordinarias y está completamente consolidada al momento de la emisión. La liquidación ocurrirá en la primera de las siguientes fechas: (i) 15 de junio del año siguiente a cinco años calendario completos después del año del retén, (ii) ciertos eventos de cambio de control, o (iii) la separación de Duckworth del servicio.

La transacción fue codificada como “A” (adquisición) con un costo base de $0, típico para premios accionarios relacionados con compensación. Tras la concesión, la propiedad directa de Duckworth aumenta a 35,387 acciones ordinarias de MP. No se reportaron valores derivados ni hubo disposiciones o compras/ventas en el mercado abierto.

Aunque la cantidad de acciones añadidas es modesta en relación con el flotante de MP, estas acumulaciones internas fortalecen ligeramente la alineación entre el consejo y los accionistas. Desde una perspectiva de valoración, la concesión es insignificante y es poco probable que afecte la percepción del mercado o la liquidez.

MP Materials Corp. (티커: MP)는 2025년 6월 30일에 Form 4를 제출했습니다 이 서류에서 이사 Connie K. Duckworth901개의 지연 주식 단위(DSU)를 취득했다고 공개했습니다. 이번 부여는 이사회 현금 보수를 주식으로 이연하기로 선택한 결과입니다. 각 DSU는 1대1로 보통주로 전환되며 발행 시점에 전액 취득됩니다. 정산은 (i) 보수 연도 후 5년이 완전한 다음 해 6월 15일, (ii) 특정 경영권 변경 사건, 또는 (iii) Duckworth의 퇴직 시점 중 빠른 시점에 이루어집니다.

거래는 보상 관련 주식 수여에 일반적인 0달러의 원가 기준으로 “A”(취득)로 분류되었습니다. 부여 후 Duckworth의 직접 보유 주식은 MP 보통주 35,387주로 증가했습니다. 파생 증권은 보고되지 않았으며, 처분이나 공개 시장 매매도 없었습니다.

추가된 주식 수는 MP의 유통 주식 수에 비해 적지만, 이러한 내부자 누적은 이사회와 주주 간의 정렬을 다소 강화합니다. 평가 관점에서 이번 부여는 중요하지 않으며 시장 인식이나 유동성에 영향을 미칠 가능성은 낮습니다.

MP Materials Corp. (symbole : MP) a déposé un Formulaire 4 le 30/06/2025 révélant que la directrice Connie K. Duckworth a acquis 901 unités d’actions différées (DSU). Cette attribution reflète son choix de différer les rémunérations en espèces du conseil d’administration en actions. Chaque DSU se convertit en actions ordinaires à raison de 1 pour 1 et est entièrement acquise à l’émission. Le règlement aura lieu à la première des dates suivantes : (i) le 15 juin de l’année suivant cinq années civiles complètes après l’année de la rémunération, (ii) certains événements de changement de contrôle, ou (iii) la séparation de Duckworth du service.

La transaction a été codée « A » (acquisition) avec une base de coût de 0 $, ce qui est typique pour les attributions d’actions liées à la rémunération. Après l’attribution, la possession directe de Duckworth augmente à 35 387 actions ordinaires de MP. Aucun titre dérivé n’a été déclaré, et il n’y a eu aucune cession ni achat/vente sur le marché ouvert.

Bien que le nombre d’actions ajoutées soit modeste par rapport au flottant de MP, ces accumulations internes renforcent légèrement l’alignement entre le conseil d’administration et les actionnaires. D’un point de vue valorisation, l’attribution est immatérielle et il est peu probable qu’elle affecte la perception du marché ou la liquidité.

MP Materials Corp. (Ticker: MP) reichte am 30.06.2025 ein Formular 4 ein, in dem offengelegt wurde, dass die Direktorin Connie K. Duckworth 901 aufgeschobene Aktienanteile (DSUs) erworben hat. Die Zuteilung spiegelt ihre Entscheidung wider, die Barvergütungen des Vorstands in Eigenkapital umzuwandeln. Jede DSU wird 1:1 in Stammaktien umgewandelt und ist bei Ausgabe vollständig unverfallbar. Die Abwicklung erfolgt zu dem früheren Zeitpunkt von (i) dem 15. Juni des Jahres nach fünf vollen Kalenderjahren nach dem Vergütungsjahr, (ii) bestimmten Kontrollwechselereignissen oder (iii) Duckworths Ausscheiden aus dem Dienst.

Die Transaktion wurde als „A“ (Erwerb) mit einem Kostenbasis von 0 $ codiert, was typisch für vergütungsbezogene Aktienzuteilungen ist. Nach der Zuteilung erhöht sich Duckworths direkter wirtschaftlicher Besitz auf 35.387 Aktien der MP-Stammaktien. Es wurden keine Derivate gemeldet, und es gab keine Veräußerungen oder Käufe/Verkäufe am offenen Markt.

Obwohl die hinzugefügte Aktienanzahl im Verhältnis zum ausstehenden Streubesitz von MP gering ist, stärken solche Insider-Akkumulationen die Ausrichtung zwischen Vorstand und Aktionären leicht. Aus Bewertungssicht ist die Zuteilung unwesentlich und dürfte die Marktwahrnehmung oder Liquidität nicht beeinflussen.

Positive
  • Director increased equity stake by 901 shares through DSU grant, reinforcing long-term alignment with shareholders.
Negative
  • Immaterial size—the 901-share grant is negligible relative to MP’s market capitalization and unlikely to influence trading sentiment.

Insights

TL;DR: Routine DSU grant, immaterial to valuation; mildly positive insider-alignment signal.

The 901-share DSU award represents roughly 2.5% of Duckworth’s existing stake and an immaterial fraction of MP’s ~177 million shares outstanding. Because the award stems from director compensation, no incremental cash was deployed, and it does not signify an opportunistic purchase based on valuation views. Nonetheless, cumulative insider accumulation—without concurrent sales—tends to be viewed as a low-level confidence indicator. From a financial-impact lens the disclosure is neutral; it neither changes earnings forecasts nor capital-structure dynamics.

TL;DR: Deferred retainer into equity supports governance best practices; impact limited.

Electing to convert cash retainers into fully vested DSUs extends ownership duration beyond normal board service, aligning director incentives with long-term shareholder value. Settlement triggers—five-year horizon or separation—discourage short-termism. However, the small size means governance benefit is incremental rather than transformative. No red flags on control or related-party aspects were observed.

MP Materials Corp. (simbolo: MP) ha presentato un Modulo 4 il 30/06/2025 comunicando che la direttrice Connie K. Duckworth ha acquisito 901 Unità Azionarie Differite (DSU). Il conferimento riflette la sua scelta di differire i compensi in contanti del consiglio in equity. Ogni DSU si converte 1 a 1 in azioni ordinarie ed è completamente maturata al momento dell’emissione. Il regolamento avverrà alla prima delle seguenti date: (i) 15 giugno dell’anno successivo al completamento di cinque anni solari pieni dopo l’anno del compenso, (ii) in caso di determinati eventi di cambio di controllo, oppure (iii) alla separazione di Duckworth dal servizio.

La transazione è stata classificata come “A” (acquisizione) con un costo base di 0 $, tipico per premi azionari legati a compensi. Dopo il conferimento, la proprietà diretta di Duckworth aumenta a 35.387 azioni ordinarie di MP. Non sono stati segnalati titoli derivati, né vi sono state cessioni o acquisti/vendite sul mercato aperto.

Pur essendo il numero di azioni aggiunte modesto rispetto al flottante di MP, tali accumuli da parte degli insider rafforzano leggermente l’allineamento tra consiglio e azionisti. Dal punto di vista della valutazione, il conferimento è irrilevante e improbabile che influenzi la percezione del mercato o la liquidità.

MP Materials Corp. (símbolo: MP) presentó un Formulario 4 el 30/06/2025 revelando que la directora Connie K. Duckworth adquirió 901 Unidades de Acciones Diferidas (DSU). La concesión refleja su elección de diferir las remuneraciones en efectivo del consejo en acciones. Cada DSU se convierte 1 a 1 en acciones ordinarias y está completamente consolidada al momento de la emisión. La liquidación ocurrirá en la primera de las siguientes fechas: (i) 15 de junio del año siguiente a cinco años calendario completos después del año del retén, (ii) ciertos eventos de cambio de control, o (iii) la separación de Duckworth del servicio.

La transacción fue codificada como “A” (adquisición) con un costo base de $0, típico para premios accionarios relacionados con compensación. Tras la concesión, la propiedad directa de Duckworth aumenta a 35,387 acciones ordinarias de MP. No se reportaron valores derivados ni hubo disposiciones o compras/ventas en el mercado abierto.

Aunque la cantidad de acciones añadidas es modesta en relación con el flotante de MP, estas acumulaciones internas fortalecen ligeramente la alineación entre el consejo y los accionistas. Desde una perspectiva de valoración, la concesión es insignificante y es poco probable que afecte la percepción del mercado o la liquidez.

MP Materials Corp. (티커: MP)는 2025년 6월 30일에 Form 4를 제출했습니다 이 서류에서 이사 Connie K. Duckworth901개의 지연 주식 단위(DSU)를 취득했다고 공개했습니다. 이번 부여는 이사회 현금 보수를 주식으로 이연하기로 선택한 결과입니다. 각 DSU는 1대1로 보통주로 전환되며 발행 시점에 전액 취득됩니다. 정산은 (i) 보수 연도 후 5년이 완전한 다음 해 6월 15일, (ii) 특정 경영권 변경 사건, 또는 (iii) Duckworth의 퇴직 시점 중 빠른 시점에 이루어집니다.

거래는 보상 관련 주식 수여에 일반적인 0달러의 원가 기준으로 “A”(취득)로 분류되었습니다. 부여 후 Duckworth의 직접 보유 주식은 MP 보통주 35,387주로 증가했습니다. 파생 증권은 보고되지 않았으며, 처분이나 공개 시장 매매도 없었습니다.

추가된 주식 수는 MP의 유통 주식 수에 비해 적지만, 이러한 내부자 누적은 이사회와 주주 간의 정렬을 다소 강화합니다. 평가 관점에서 이번 부여는 중요하지 않으며 시장 인식이나 유동성에 영향을 미칠 가능성은 낮습니다.

MP Materials Corp. (symbole : MP) a déposé un Formulaire 4 le 30/06/2025 révélant que la directrice Connie K. Duckworth a acquis 901 unités d’actions différées (DSU). Cette attribution reflète son choix de différer les rémunérations en espèces du conseil d’administration en actions. Chaque DSU se convertit en actions ordinaires à raison de 1 pour 1 et est entièrement acquise à l’émission. Le règlement aura lieu à la première des dates suivantes : (i) le 15 juin de l’année suivant cinq années civiles complètes après l’année de la rémunération, (ii) certains événements de changement de contrôle, ou (iii) la séparation de Duckworth du service.

La transaction a été codée « A » (acquisition) avec une base de coût de 0 $, ce qui est typique pour les attributions d’actions liées à la rémunération. Après l’attribution, la possession directe de Duckworth augmente à 35 387 actions ordinaires de MP. Aucun titre dérivé n’a été déclaré, et il n’y a eu aucune cession ni achat/vente sur le marché ouvert.

Bien que le nombre d’actions ajoutées soit modeste par rapport au flottant de MP, ces accumulations internes renforcent légèrement l’alignement entre le conseil d’administration et les actionnaires. D’un point de vue valorisation, l’attribution est immatérielle et il est peu probable qu’elle affecte la perception du marché ou la liquidité.

MP Materials Corp. (Ticker: MP) reichte am 30.06.2025 ein Formular 4 ein, in dem offengelegt wurde, dass die Direktorin Connie K. Duckworth 901 aufgeschobene Aktienanteile (DSUs) erworben hat. Die Zuteilung spiegelt ihre Entscheidung wider, die Barvergütungen des Vorstands in Eigenkapital umzuwandeln. Jede DSU wird 1:1 in Stammaktien umgewandelt und ist bei Ausgabe vollständig unverfallbar. Die Abwicklung erfolgt zu dem früheren Zeitpunkt von (i) dem 15. Juni des Jahres nach fünf vollen Kalenderjahren nach dem Vergütungsjahr, (ii) bestimmten Kontrollwechselereignissen oder (iii) Duckworths Ausscheiden aus dem Dienst.

Die Transaktion wurde als „A“ (Erwerb) mit einem Kostenbasis von 0 $ codiert, was typisch für vergütungsbezogene Aktienzuteilungen ist. Nach der Zuteilung erhöht sich Duckworths direkter wirtschaftlicher Besitz auf 35.387 Aktien der MP-Stammaktien. Es wurden keine Derivate gemeldet, und es gab keine Veräußerungen oder Käufe/Verkäufe am offenen Markt.

Obwohl die hinzugefügte Aktienanzahl im Verhältnis zum ausstehenden Streubesitz von MP gering ist, stärken solche Insider-Akkumulationen die Ausrichtung zwischen Vorstand und Aktionären leicht. Aus Bewertungssicht ist die Zuteilung unwesentlich und dürfte die Marktwahrnehmung oder Liquidität nicht beeinflussen.

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 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)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
CHAIRMAN
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)
Form filed by One Reporting Person
X 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
Class A Common Stock 11,272,090 D
Class A Common Stock 11,367 I I(1)
Class A Common Stock 213 I I(2)
Class A Common Stock 1,276 I I(3)
Class A Common Stock 11,566 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) 06/26/2025 G(9) 15,104,784 (8) (8) Class A Common Stock 15,104,784 $0 0 I I(9)
Class B Common Stock (8) 06/26/2025 G(9) 11,342,203 (8) (8) Class A Common Stock 11,342,203 $0 16,889,611 D
Class B Common Stock (8) 06/26/2025 G(10) 16,800,000 (8) (8) Class A Common Stock 16,800,000 $0 89,611 D
Class B Common Stock (8) 06/26/2025 G(10) 16,800,000 (8) (8) Class A Common Stock 16,800,000 $0 16,800,000 I I(10)
Class B Common Stock (8) (8) (8) Class A Common Stock 35,190,866 35,190,866 I I(6)
Class B Common Stock (8) (8) (8) Class A Common Stock 19,038,378 19,038,378 I I(11)
Class B Common Stock (8) (8) (8) Class A Common Stock 26,500,000 26,500,000 I I(12)
Class B Common Stock (8) (8) (8) Class A Common Stock 3,306,885 3,306,885 I I(13)
Class B Common Stock (8) (8) (8) Class A Common Stock 25,000,000 25,000,000 I I(14)
1. Name and Address of Reporting Person*
ERGEN CHARLES W

(Last) (First) (Middle)
9601 S. MERIDIAN BLVD.

(Street)
ENGLEWOOD CO 80112

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
X Director X 10% Owner
X Officer (give title below) Other (specify below)
CHAIRMAN
1. Name and Address of Reporting Person*
ERGEN CANTEY

(Last) (First) (Middle)
9601 S. MERIDIAN BLVD.

(Street)
ENGLEWOOD CO 80112

(City) (State) (Zip)

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 2023 DISH GRAT (the "2023 June GRAT"), on June 26, 2025, the 2023 June GRAT distributed: (i) 11,342,203 Class B shares held by the 2023 June GRAT to Mr. Ergen as an annuity payment; and (ii) the remaining 3,762,581 Class B shares to a trust, the beneficiaries of which are members of Mr. Ergen's family, and the 2023 June GRAT expired in accordance with its terms.
10. 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.
11. On December 22, 2023, Mr. Ergen established the Ergen Two-Year December 2023 SATS GRAT (the "2023 December GRAT") and contributed a total of 8,800,000 Class B shares and 57,000,000 DISH Class B shares to the 2023 December GRAT. In connection with the Merger, such DISH Class B shares converted into the right to receive 19,999,989 EchoStar Class B shares. After the Merger, the 2023 December GRAT held a total of 28,799,989 Class B shares. The 2023 December GRAT currently holds 19,038,378 Class B shares. The 2023 December GRAT is schedule to expire in accordance with its terms on December 22, 2025. Mrs. Cantey M. Ergen serves as trustee of the 2023 December GRAT.
12. 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 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.
13. On May 13, 2024, Mr. Ergen established the Ergen Two-Year May 2024 SATS GRAT (the "2024 May GRAT") and contributed 6,000,000 Class B shares to the 2024 May GRAT. The 2024 May GRAT currently holds 3,306,885 Class B shares and is scheduled to expire in accordance with its terms on May 13, 2026. Mrs. Cantey M. Ergen serves as the trustee of the 2024 May GRAT.
14. On May 13, 2025, Mr. Ergen established the Ergen Two-Year May 2025 SATS GRAT (the "2025 May GRAT") and contributed 25,000,000 Class B shares to the 2025 May GRAT. 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.
/s/ Charles W. Ergen, by Dean A. Manson, Attorney-in-Fact 06/30/2025
/s/ Cantey M. Ergen, 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 insider transaction did MP (MP) report on 06/30/2025?

Director Connie K. Duckworth acquired 901 Deferred Stock Units as part of her board compensation.

How many MP shares does Connie Duckworth own after the Form 4 filing?

She now beneficially owns 35,387 shares, all held directly.

Were any MP shares sold in this Form 4?

No. The filing shows only an acquisition; no dispositions occurred.

What are Deferred Stock Units (DSUs) in MP Materials’ compensation plan?

Each DSU equals one common share, vests immediately, and settles after a five-year deferral, change-in-control, or separation from service.

Does this insider purchase impact MP’s earnings or cash flow?

No. The DSU grant is a non-cash, stock-settled compensation item with no direct effect on earnings or cash flow.
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Communication Equipment
Communications Services, Nec
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United States
ENGLEWOOD