Ergen Two-Year May 2019 DISH GRAT 4
4 · DISH Network CORP · Filed May 22, 2020
Insider Transaction Report
Form 4
Ergen Two-Year May 2019 DISH GRAT
10% Owner
Transactions
- Gift
Class B Common Stock
2020-05-20−27,840,716→ 22,159,284 total→ Class A Common Stock (27,840,716 underlying)
Footnotes (2)
- [F1]On May 20, 2019, Mr. Charles W. Ergen established a Grantor Retained Annuity Trust ("GRAT"), the Ergen Two-Year May 2019 DISH GRAT (the "Two-Year May 2019 GRAT") and contibuted 50,000,000 Class B shares to the Two-Year May 2019 GRAT. The Two-Year May 2019 GRAT 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. Mrs. Cantey M. Ergen serves as the trustee of such GRAT.
- [F2]Pursuant to the terms of the Two-Year May 2019 GRAT, 27,840,716 Class B shares were distributed as an annuity to Mr. Ergen on May 20, 2020. Following this distribution, the Two-Year May 2019 GRAT beneficially owns 22,159,284 Class B shares. The Two-Year May 2019 GRAT is scheduled to expire in accordance with its terms on May 20, 2021.