Ergen Amends EchoStar Stake Filing

TL;DR

Ergen filed another update on his EchoStar stake, nothing major changed but worth watching.

AI Summary

On May 15, 2024, Charles W. Ergen filed an amendment (No. 51) to Schedule 13D for EchoStar Corporation. This filing indicates a change in the beneficial ownership of EchoStar Corporation's Class A Common Stock. The filing lists multiple "GROUP MEMBERS" associated with Ergen, including various trusts and Telluray Holdings, LLC.

Why It Matters

This amendment to a Schedule 13D filing by a major shareholder like Charles W. Ergen can signal shifts in control or strategic intentions regarding EchoStar Corporation, potentially impacting its stock price and future operations.

Risk Assessment

Risk Level: medium — Schedule 13D filings, especially amendments, can indicate significant changes in beneficial ownership or strategic intent by large shareholders, which carries inherent risk.

Key Players & Entities

• Charles W. Ergen (person) — Filing party and beneficial owner
• EchoStar Corporation (company) — Subject company
• Telluray Holdings, LLC (company) — Group member associated with Ergen
• ERGEN TWO-YEAR DECEMBER 2022 SATS GRAT (company) — Group member associated with Ergen
• ERGEN TWO-YEAR DECEMBER 2023 SATS GRAT (company) — Group member associated with Ergen

FAQ

Key Financial Figures

• $0.001 — (Name of Issuer) CLASS A COMMON STOCK, $0.001 PAR VALUE PER SHARE (Title of Class of

Filing Documents

• tm2414525d2_sc13da.htm (SC 13D/A) — 167KB
• 0001104659-24-062031.txt ( ) — 169KB

From the Filing

SC 13D/A 1 tm2414525d2_sc13da.htm SC 13D/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D/A Under the Securities Exchange Act of 1934 (Amendment No. 51)* ECHOSTAR CORPORATION (Name of Issuer) CLASS A COMMON STOCK, $0.001 PAR VALUE PER SHARE (Title of Class of Securities) 278768 106 (CUSIP Number) Dean A. Manson Chief Legal Officer and Secretary EchoStar Corporation 9601 S. Meridian Blvd. Englewood, Colorado 80112 (303) 723-1000 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) May 13, 2024 (Date of Event Which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D/A, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. CUSIP No. 278768 106 1. NAME OF REPORTING PERSON Charles W. Ergen 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) (b) 3. SEC Use Only 4. SOURCE OF FUNDS OO 5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) 6. CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A. Number Of Shares Beneficially Owned By Each Reporting Person With 7. SOLE VOTING POWER 11,385,530 SHARES (1) (2) 1,497,478 SIXTY DAY SHARES (3) 8. SHARED VOTING POWER 134,455,785 SHARES (1) (4) 9. SOLE DISPOSITIVE POWER 11,385,530 SHARES (1) (2) 1,497,478 SIXTY DAY SHARES (3) 10. SHARED DISPOSITIVE POWER 134,455,785 SHARES (1) (4) 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY THE REPORTING PERSON 147,338,793 12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) Approximately 54.0% (5) 14. TYPE OF REPORTING PERSON IN (1) Includes shares of Class A Common Stock, $0.001 par value per share (“Class A Common Stock”) and Class B Common Stock, $0.001 par value per share (“Class B Common Stock”) of EchoStar Corporation (“EchoStar”). The shares of Class B Common Stock are convertible into shares of Class A Common Stock on a one-for-one basis at any time. (2) Consists of: (i) 11,353,060 shares of Class A Common Stock beneficially owned directly by Mr. Ergen; (ii) 11,280 shares of Class A Common Stock beneficially owned indirectly by Mr. Ergen in the DISH Network Corporation (“DISH Network”) 401(k) Employee Savings Plan (the “DISH Network 401(k) Plan”); and (iii) 21,190 shares of Class B Common Stock beneficially owned directly by Mr. Ergen. (3) “Sixty Day Shares” are shares of Class A Common Stock deemed to be beneficially owned under Rule 13d-3(d)(1) because Mr. Ergen has the right to acquire beneficial (4) Consists of: (i) 213 shares of Class A Common Stock beneficially owned directly by Mr. Ergen’s spouse, Cantey M. Ergen; (ii) 1,189 shares of Class A Common Stock beneficially owned indirectly by Mrs. Ergen in the DISH Network 401(k) Plan; (iii) 9,966 shares of Class A Common Stock beneficially owned by one of Mr. Ergen’s children; (iv) 766,443 shares of Class A Common Stock beneficially owned by a charitable foundation for which Mr. Ergen is an officer and for which he shares voting and dispositive power with Mrs. Ergen; (v) 2,350,696 shares of Class A Common Stock and 35,190,866 shares of Class B Common Stock held by Telluray Holdings, LLC (“Telluray Holdings”), for which Mrs. Ergen has sole voting power as a manager of Telluray Holdings and for which Mr. Ergen and Mrs. Ergen share dispositive power as the managers of Telluray Holdings; (vi) 2,687,900 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the Ergen Two-Year June 2022 SATS GRAT (the “2022 June GRAT”); (vii) 5,181,574 shares of Class B Common Stock owned beneficially by Mr

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