Paul W. Orban - Aug 29, 2025 Form 4 Insider Report for EchoStar CORP (SATS)

Role
EVP, CFO, DISH
Signature
/s/ Paul W. Orban, by Dean A. Mason, Attorney-in-Fact
Stock symbol
SATS
Transactions as of
Aug 29, 2025
Transactions value $
-$2,644,457
Form type
4
Date filed
9/3/2025, 06:45 PM
Previous filing
Aug 29, 2025
Next filing
Sep 11, 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
ORBAN PAUL W EVP, CFO, DISH 9601 S. MERIDIAN BLVD., ENGLEWOOD /s/ Paul W. Orban, by Dean A. Mason, Attorney-in-Fact 2025-09-03 0001197815

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SATS Class A Common Stock Options Exercise $232K +16.5K +3514.47% $14.04 17K Aug 29, 2025 Direct F1
transaction SATS Class A Common Stock Sale -$1.01M -16.5K -97.23% $61.26 470 Aug 29, 2025 Direct F1, F2
transaction SATS Class A Common Stock Options Exercise $190K +13.5K +2881.7% $14.04 14K Aug 29, 2025 Direct F1
transaction SATS Class A Common Stock Sale -$829K -13.5K -96.65% $61.24 470 Aug 29, 2025 Direct F1, F3
transaction SATS Class A Common Stock Options Exercise $281K +20K +4444.44% $14.04 20.5K Aug 29, 2025 Direct F1
transaction SATS Class A Common Stock Sale -$1.23M -20K -97.7% $61.26 470 Aug 29, 2025 Direct F1, F4
holding SATS Class A Common Stock 744 Aug 29, 2025 I F5

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 Class A Common Stock Options Exercise $0 -16.5K -50% $0.00 16.5K Aug 29, 2025 Class A Common Stock 16.5K $14.04 Direct F1, F6
transaction SATS Class A Common Stock Options Exercise $0 -13.5K -25% $0.00 40.6K Aug 29, 2025 Class A Common Stock 13.5K $14.04 Direct F1, F7
transaction SATS Employee Stock Option (Right To Buy) Options Exercise -$281K -20K -20% $14.04 80K Aug 29, 2025 Class A Common Stock 20K $14.04 Direct F1, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The transaction reported was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 3, 2024.
F2 Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $60.65 to $61.83. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.
F3 Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $60.65 to $61.80. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.
F4 Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $60.65 to $61.87. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.
F5 By 401(K).
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.
F8 The shares underlying the options vest at the rate of 20% per year, commencing upon April 1, 2025.