Hamid Akhavan - Dec 31, 2023 Form 4 Insider Report for EchoStar CORP (SATS)

Role
CEO and President, Director
Signature
/s/ Hamid Akhavan, by Dean Manson, his Attorney-In-Fact
Stock symbol
SATS
Transactions as of
Dec 31, 2023
Transactions value $
-$950,505
Form type
4
Date filed
1/3/2024, 06:50 PM
Previous filing
Nov 27, 2023
Next filing
Apr 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SATS Class A Common Stock Award +35.1K +35.09% 135K Dec 31, 2023 Direct F1
transaction SATS Class A Common Stock Options Exercise +150K +111.04% 285K Dec 31, 2023 Direct F2
transaction SATS Class A Common Stock Tax liability -$951K -57.4K -13.18% $16.57 378K Dec 31, 2023 Direct F7
holding SATS Class A Common Stock 240 Dec 31, 2023 By 401(k)

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SATS Restricted Stock Units Options Exercise $0 -150K -75% $0.00 50K Dec 31, 2023 Class A Common Stock 150K Direct F2, F3
transaction SATS Restricted Stock Units Disposed to Issuer -50K -100% 0 Dec 31, 2023 Class A Common Stock 50K Direct F2, F3, F4
transaction SATS Employee Stock Option Award $0 +702K $0.00 702K Dec 31, 2023 Class A Common Stock 702K $16.57 Direct F5
transaction SATS Restricted Stock Units Award $0 +263K $0.00 263K Jan 1, 2024 Class A Common Stock 263K Direct F2, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Received in exchange for 100,000 shares of Class A Common Stock, par value $.01 par value per share ("DISH Class A Common Stock"), of DISH Network Corporation, a Nevada corporation ("DISH") in connection of the Amended and Restated Agreement and Plan of Merger, dated as of October 2, 2023 ("Merger Agreement"), by and between the Issuer, DISH and EAV Corp., a Nevada corporation and a wholly owned direct subsidiary of the Issuer ("Merger Sub"). Pursuant to the Merger Agreement, on December 31, 2023, Merger Sub merged with and into DISH with DISH surviving the merger as a wholly owned subsidiary of the Issuer (the "Merger"). At the effective time of the Merger (the "Effective Time"), each outstanding share of DISH Class A Common Stock was converted into the right to receive a number of Issuer Class A Common Stock equal to 0.350877 (the "Exchange Ratio").
F2 Restricted stock units convert into Class A Common Stock on a one-for-one basis.
F3 On April 1, 2022, the reporting person was granted 300,000 restricted stock units, vesting in three equal annual installments beginning on April 1, 2023.
F4 Pursuant to the Letter Agreement, dated October 2, 2023, by and between the Issuer and the reporting person (the "Letter Agreement"), the reporting person forfeited 50,000 unvested restricted stock units at the Effective Time in consideration for the compensation and benefits provided under the Letter Agreement.
F5 The option vests in three equal annual installments beginning on December 31, 2024.
F6 The restricted stock units vest on December 31, 2024.
F7 Represents shares withheld to cover certain tax obligations in connection with the vested restricted stock units listed in Table II.