Form 4: Ergen Receives Distribution of EchoStar Class B Shares from GRAT
SEC Form 4
Two-Year June 2023 DISH GRAT distributed 16,298,707 Class B shares to Mr. Ergen on June 26, 2024.
Summary
- This is a Form 4 filing indicating changes in beneficial ownership of EchoStar CORP [SATS] securities.
- On June 26, 2024, the Ergen Two-Year June 2023 DISH GRAT distributed 16,298,707 Class B shares to Mr. Ergen as an annuity.
- Following the distribution, the 2023 June GRAT beneficially owns 15,104,784 Class B shares.
- The 2023 June GRAT is scheduled to expire on June 26, 2025.
- Mr. Ergen now directly owns 16,298,707 Class B shares.
- Mrs. Cantey M. Ergen serves as the Trustee of the GRAT.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting a pre-planned distribution of shares, so the sentiment is neutral.
Future Outlook
The Ergen Two-Year June 2023 DISH GRAT is scheduled to expire on June 26, 2025.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Stakeholder Impact
- The distribution of shares may have a minor impact on the overall shareholding structure of EchoStar.
Key Dates
| Date | Description |
|---|---|
| June 2023 | Date of the Ergen Two-Year June 2023 DISH GRAT |
| 06/26/2024 | Date of distribution of 16,298,707 Class B shares to Mr. Ergen from the GRAT |
| 06/26/2025 | Scheduled expiration date of the 2023 June GRAT |
| 06/28/2024 | Date of signature on the Form 4 filing |
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