Akhavan Hamid 4

What Happened

• Hamid Akhavan, CEO and director of EchoStar Corp (SATS), exercised stock options on March 6, 2026 to acquire 254,335 shares (20,417 at $14.04 and 233,918 at $16.57) for a combined strike cost of $4,162,676. On the same day he sold 71,005 shares in an open-market transaction for approximately $7,634,458 (weighted avg price $107.52).
• The Form 4 also reports corresponding derivative entries at $0 for the exercised lots (i.e., shares shown as disposed with $0 proceeds), which typically reflect shares surrendered or withheld in connection with the exercise (for exercise cost or tax withholding).

Key Details

• Transaction date: March 6, 2026; Form 4 filed March 10, 2026 (timely filing).
• Sales price: weighted average $107.52; price range reported $107.41–$107.94 (see footnote F1 for detail).
• Option exercise lots: 20,417 shares @ $14.04 (F4 vesting: vests in three equal annual installments beginning 12/31/2024) and 233,918 shares @ $16.57 (F3 vesting: 25% per year on each of 4/1/2025–4/1/2028).
• Footnote F2 indicates involvement of a 401(k) (as noted in the filing).
• Shares owned after these transactions are not disclosed in the provided summary of the filing.

Context

• This was a mixed activity: a material option exercise (acquisition) paired with an open-market sale. The sale generated roughly $7.6M in proceeds; the exercised options were acquired at much lower strike prices (~$14–$16.6), creating immediate intrinsic value.
• The $0 disposal entries for the exercised lots suggest share surrender/withholding (common when covering exercise costs or tax obligations) or a cashless component, rather than an independent gift or unrelated sale.
• The filing is factual and routine; it does not explain motives. Purchases via option exercise show insider accumulation at grant strike prices, while the open-market sale is a separate liquidity event.