Ergen Two-Year 2019 DISH GRAT II 4
4 · DISH Network CORP · Filed Jun 3, 2020
Insider Transaction Report
Form 4
Ergen Two-Year 2019 DISH GRAT II
10% Owner
Transactions
- Gift
Class B Common Stock
2020-06-01−15,867,684→ 14,132,316 total→ Class A Common Stock (15,867,684 underlying)
Footnotes (2)
- [F1]On May 30, 2019, Charles W. Ergen established a Grantor Retained Annuity Trust ("GRAT"), the Ergen Two-Year 2019 DISH GRAT II (the "Two-Year 2019 GRAT II") and contributed 30,000,000 Class B shares to the GRAT. The Two-Year 2019 GRAT II 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 2019 GRAT II, 15,867,684 Class B shares were distributed as an annuity to Mr. Ergen on June 1, 2020. Following this distribution, the Two-Year 2019 GRAT II beneficially owns 14,132,316 Class B shares. The Two-Year 2019 GRAT II is scheduled to expire in accordance with its terms on May 30, 2021.