SCHEDULE: EchoStar Ownership Update: Ergen Group Maintains Control

An amended Schedule 13D filing reveals the collective beneficial ownership of Charles W. Ergen and affiliated entities in EchoStar Corp. as of June 26, 2026, confirming significant control.

Summary

• This filing is an amendment to a Schedule 13D, reporting on the beneficial ownership of EchoStar Corporation's Class A and Class B common stock as of June 26, 2026.
• The reporting persons include Charles W. Ergen, Cantey M. Ergen, several GRATs (Grantor Retained Annuity Trusts), and Telluray Holdings, LLC.
• Collectively, these reporting persons beneficially own a substantial portion of EchoStar's stock, representing a significant percentage of voting power.
• The filing details the breakdown of shares held directly and indirectly, including those held through trusts and other entities.
• It also references an Amended and Restated Support Agreement dated October 2, 2023, which imposes certain voting restrictions for three years following a merger with DISH.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it primarily serves as an update on existing ownership structures and control dynamics rather than announcing new strategic initiatives or financial performance.

Positives

• Charles W. Ergen and affiliated entities maintain a controlling stake in EchoStar, indicating continued strategic influence.
• The structure of ownership through various trusts and entities suggests a long-term estate planning and control strategy.
• The filing confirms the existence of an Amended Support Agreement, providing clarity on voting arrangements post-merger.

Negatives

• The complex web of trusts and entities holding shares can obscure direct ownership and control for external observers.
• The voting restrictions imposed by the Amended Support Agreement may limit the immediate flexibility of Class A shareholders in certain scenarios.

Risks

• The Amended Support Agreement restricts voting of Class A common stock for three years following the DISH merger, potentially limiting shareholder influence on certain matters.
• The trust agreements for the GRATs contain irrevocable provisions preventing the disposition of EchoStar shares unless a 'Change of Control Event' occurs, which is defined with specific conditions related to Mr. Ergen's ownership and board composition.

Future Outlook

The filing does not contain specific forward-looking financial guidance. However, it details conditions under which shares held in trusts (GRATs) can be disposed of, contingent upon a 'Change of Control Event,' which is defined by specific criteria related to ownership percentages and board composition.

Management Comments

• Mr. Ergen's principal occupation is Chairman, President and Chief Executive Officer of EchoStar.
• Mrs. Ergen is a Senior Advisor and member of the Board of Directors of EchoStar.
• The GRATs are formed to hold a portion of the assets and estate of Mr. Ergen.
• Telluray Holdings' principal business is to hold a portion of the assets and estate of Mr. Ergen and certain assets of family trusts.

Industry Context

StockSavvy.ai notes that this Schedule 13D filing is typical for significant shareholders in publicly traded companies, particularly those with dual-class stock structures or complex ownership arrangements. The focus on beneficial ownership and voting power is crucial for understanding control dynamics within the telecommunications and media sectors where EchoStar operates.

Corporate Governance

Related Party Transactions

• Shares held by Telluray Holdings, LLC, for which Mr. Ergen and Mrs. Ergen share dispositive power as managers.
• Shares held by CONX Corp., beneficially owned indirectly by Mr. Ergen through nXgen.
• Shares held by a charitable foundation for which Mr. Ergen and Mrs. Ergen share voting and dispositive power.
• Shares held by Mr. Ergen's spouse, children, and various GRATs established for estate planning purposes.

Stakeholder Impact

• Shareholders: The concentration of voting power with the Ergen group and the restrictions under the Amended Support Agreement will influence corporate governance and decision-making.
• Management: The filing confirms the continued significant influence of key management figures (Charles W. Ergen and Cantey M. Ergen) over the company's direction.
• Trust Beneficiaries: The terms of the GRATs dictate the conditions under which shares can be managed or distributed, impacting potential future benefits.

Next Steps

• The 2025 June GRAT is scheduled to expire on June 26, 2027.
• The Amended Support Agreement imposes voting restrictions for three years following the closing of the merger between EchoStar and DISH.

Key Dates

Keywords

EchoStar Corp, Schedule 13D, Beneficial Ownership, Charles W. Ergen, Cantey M. Ergen, Class A Common Stock, Class B Common Stock, GRAT, Telluray Holdings, Voting Power, Amended Support Agreement