Dean Manson - Apr 1, 2024 Form 4 Insider Report for EchoStar CORP (SATS)

Role
CHIEF LEGAL OFFICER
Signature
/s/ Dean A. Manson
Stock symbol
SATS
Transactions as of
Apr 1, 2024
Transactions value $
$0
Form type
4
Date filed
4/3/2024, 05:52 PM
Previous filing
Jan 3, 2024
Next filing
Mar 10, 2025
SEC
View on sec.gov

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 Employee Stock Option (Right to Buy) Disposed to Issuer $0 -57.5K -100% $0.00* 0 Apr 1, 2024 Class A Common Stock 57.5K $44.99 Direct F1, F2
transaction SATS Class A Common Stock (Right to Buy) Disposed to Issuer $0 -11.5K -100% $0.00* 0 Apr 1, 2024 Class A Common Stock 11.5K $38.19 Direct F1, F3
transaction SATS Employee Stock Option (Right to Buy) Disposed to Issuer $0 -100K -100% $0.00* 0 Apr 1, 2024 Class A Common Stock 100K $38.89 Direct F1, F4
transaction SATS Employee Stock Option (Right to Buy) Disposed to Issuer $0 -100K -100% $0.00* 0 Apr 1, 2024 Class A Common Stock 100K $25.21 Direct F1, F5
transaction SATS Employee Stock Option (Right to Buy) Award $0 +132K $0.00 132K Apr 1, 2024 Class A Common Stock 132K $14.04 Direct F1, F6
transaction SATS Employee Stock Option (Right to Buy) Award $0 +56K $0.00 56K Apr 1, 2024 Class A Common Stock 56K $14.04 Direct F1, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The transactions reported herein reflect the exchange of "underwater" options to acquire shares of the Issuer's Class A Common Stock pursuant to the terms and conditions set forth in the Issuer's Offer to Exchange Eligible Stock Options dated March 4, 2024, which expired on April 1, 2024 (the "Exchange"). Effective April 1, 2024, the Issuer cancelled the options the Reporting Person elected to exchange and granted to the Reporting Person new options with, among other new terms, a new exercise price, a different vesting schedule and in certain cases a different number of options, for options that are not subject to achievement of certain performance criteria. The new exercise price is $14.04, which is the closing price of the Issuer's Class A Common Stock on April 1, 2024.
F2 The shares underlying the option vest at the rate of 20% per year, commencing on April 1, 2016.
F3 The shares underlying the option vest at the rate of 20% per year, commencing on April 1, 2017.
F4 The shares underlying the option vest at the rate of 20% per year, commencing on October 1, 2020.
F5 The shares underlying the option vest at the rate of 20% per year, commencing on April 1, 2023.
F6 40% of the shares underlying these options vested immediately upon the grant date. The remaining 60% of the shares underlying these options vest 30% per year on each of April 1, 2025 and April 1, 2026.
F7 The shares underlying these options vest 25% per year on each of April 1, 2025, April 1, 2026, April 1, 2027 and April 1, 2028.