EchoStar CORP — Director's Dealing 2025

Dec 29, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EchoStar CORP (SATS)
CIK: 0001415404
Period of Report: 2025-12-22

Reporting Person: Ergen Two-Year December 2023 SATS GRAT (N/A)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-12-22	Class B Common Stock	$	G	19038378	Disposed		Class A Common Stock (19038378)	Direct

Footnotes

F1: The holder of the Class B shares may elect to convert any or all of its Class B shares into an equal number of Class A shares at any time for no additional consideration.

F2: Pursuant to the terms of the Ergen Two-Year December 2023 SATS GRAT (the "2023 December GRAT"), on December 22, 2025, the 2023 December GRAT: (i) distributed 2,060,220 Class B shares held by the 2023 December GRAT to Mr. Ergen as an annuity payment; and (ii) contributed the remaining 16,978,158 Class B shares to Telluray Holdings, LLC ("Telluray Holdings") in exchange for membership units in Telluray Holdings, and the 2023 December GRAT expired in accordance with its terms.