Form 4: Ergen Receives Distribution of EchoStar Shares from GRAT
SEC Form 4
Charles Ergen receives a distribution of Class A and Class B shares of EchoStar Corp from the Ergen Two-Year May 2023 DISH GRAT.
Summary
- On May 13, 2024, Charles Ergen received 9,122,802 Class A shares and 2,261,098 Class B shares of EchoStar Corp as an annuity from the Ergen Two-Year May 2023 DISH GRAT.
- Following the distribution, the 2023 May GRAT beneficially owns 7,563,458 Class B shares.
- The 2023 May GRAT is scheduled to expire on May 12, 2025.
- Class B shares can be converted into Class A shares at any time for no additional consideration.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing a transfer of shares. It doesn't inherently convey positive or negative sentiment.
Positives
- The distribution of shares to Mr. Ergen does not appear to have any negative implications for the company.
Industry Context
This filing reflects standard transactions related to executive compensation and estate planning, common in publicly traded companies.
Key Dates
| Date | Description |
|---|---|
| May 2023 | Creation of the Ergen Two-Year May 2023 DISH GRAT |
| May 13, 2024 | Distribution of Class A and Class B shares to Mr. Ergen from the GRAT |
| May 12, 2025 | Scheduled expiration date of the Ergen Two-Year May 2023 DISH GRAT |
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