Major owner of EchoStar Corporation just declared owning 2,216,153 shares of EchoStar Corporation

Charles W Ergen, a major owner of EchoStar Corporation and EchoStar Corporation's Chairman and a director of the company, has just filed an initial statement of beneficial ownership where 2,216,153 shares of EchoStar Corporation were declared. This form is usually filed as a prelude to receiving options or buying company shares, so there may be more to come from Ergen. Ergen operates out of Englewood, CO. Some additional info was provided as follows:


On March 18, 2020, Mr. Ergen established the Ergen Two-Year March 2020 SATS GRAT (the "2020 March GRAT") and contributed a total of 2,151,751 Class A shares and 1,348,249 Class B shares to such trust. The 2020 March GRAT currently holds 1,886,574 Class A shares and is scheduled to expire in accordance with its terms on March 18, 2022. Mrs. Cantey M. Ergen serves as the trustee of the 2020 March GRAT.
The reporting persons disclaim beneficial ownership of these shares, except to the extent of their pecuniary interest therein and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
These shares are held by a charitable foundation. The reporting persons are officers of the charitable foundation and share voting and dispositive power for the foundation. The reporting persons disclaim beneficial ownership of the shares, except to the extent of their pecuniary interest therein and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
The holder of Class B shares may elect to convert any or all of their Class B shares into an equal number of Class A shares at any time for no additional consideration.
On June 9, 2021, Mr. Ergen established the Ergen Two-Year June 2021 SATS GRAT (the "2021 June GRAT") and contributed a total of 9,000,000 Class B shares to such trust. The 2021 June GRAT is scheduled to expire in accordance with its terms on June 9, 2023. Mrs. Cantey M. Ergen serves as the trustee of the 2021 June GRAT.
On December 5, 2019, Mr. Ergen established the Ergen Two-Year December 2019 SATS GRAT (the "2019 December GRAT") and contributed a total of 8,000,000 Class B shares to such trust. The 2019 December GRAT currently holds 1,724,153 Class B shares and is scheduled to expire in accordance with its terms on December 5, 2021. Mrs. Cantey M. Ergen serves as the trustee of the 2019 December GRAT.
On June 1, 2020, Mr. Ergen established the Ergen Two-Year June 2020 SATS GRAT (the "2020 June GRAT") and contributed a total of 5,000,000 Class B shares to such trust. The 2020 June GRAT currently holds 2,299,691 Class B shares and is scheduled to expire in accordance with its terms on June 1, 2022. Mrs. Cantey M. Ergen serves as the trustee of the 2020 June GRAT.
On December 21, 2020, Mr. Ergen established the Ergen Two-Year December 2020 SATS GRAT (the "2020 December GRAT") and contributed a total of 21,000,000 Class B shares to such trust. The 2020 December GRAT is scheduled to expire in accordance with its terms on December 21, 2022. Mrs. Cantey M. Ergen serves as the trustee of the 2020 December GRAT.
These shares are held by Telluray Holdings, LLC ("Telluray"). Mrs. Ergen has sole voting power over the Class B shares held by Telluray and Mr. Ergen and Mrs. Ergen share dispositive power over the Class B shares held by Telluray. The reporting persons disclaim beneficial ownership of the shares, except to the extent of their pecuniary interest therein and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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