# EDGAR Filing Document

**Accession Number:** 0001295252
**File Stem:** 0001295252-25-000008
**Filing Date:** 2025-12
**Character Count:** 17291
**Document Hash:** 210075945e6265ad5e4b15dfd6708b9d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001295252-25-000008.hdr.sgml**: 20251215

**ACCESSION NUMBER**: 0001295252-25-000008

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251211

**FILED AS OF DATE**: 20251215

**DATE AS OF CHANGE**: 20251215

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Akhavan Hamid
- **CENTRAL INDEX KEY:** 0001295252

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-33807
- **FILM NUMBER:** 251572992

**MAIL ADDRESS:**
- **STREET 1:** 1226 EARNESTINE ST.
- **CITY:** MCLEAN
- **STATE:** VA
- **ZIP:** 22101
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EchoStar CORP
- **CENTRAL INDEX KEY:** 0001415404
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMMUNICATION SERVICES, NEC [4899]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 261232727
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 9601 SOUTH MERIDIAN BOULEVARD
- **CITY:** ENGLEWOOD
- **STATE:** CO
- **ZIP:** 80112
- **BUSINESS PHONE:** 303-723-1000

**MAIL ADDRESS:**
- **STREET 1:** 9601 SOUTH MERIDIAN BOULEVARD
- **CITY:** ENGLEWOOD
- **STATE:** CO
- **ZIP:** 80112

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EchoStar Holding CORP
- **DATE OF NAME CHANGE:** 20071017

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[x] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Akhavan Hamid<br><sub>(Last) (First) (Middle)</sub><br>9601 S. MERIDIAN BLVD.<br><sub>(Street)</sub><br>ENGLEWOOD, CO 80112<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-12-11 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_CEO, EchoStar Capital_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>EchoStar CORP [ SATS ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class A Common Stock | 2025-12-11 |  | M<sup>(1)</sup> |  | 285832 | A | $14.04 | 662637 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 20129 | D | 104.10<sup>(2)</sup> | 642508 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 14940 | D | 104.65<sup>(3)</sup> | 627568 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 3240 | D | 105.88<sup>(4)</sup> | 624328 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 3657 | D | 106.72<sup>(5)</sup> | 620671 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 5123 | D | 108.02<sup>(6)</sup> | 615548 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 2911 | D | 108.78<sup>(7)</sup> | 612637 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 29608 | D | 104.10<sup>(8)</sup> | 583029 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 23040 | D | 104.66<sup>(9)</sup> | 559989 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 5595 | D | 105.93<sup>(10)</sup> | 554394 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 4670 | D | 106.84<sup>(11)</sup> | 549724 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 7831 | D | 108.01<sup>(12)</sup> | 541893 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 4256 | D | 108.76<sup>(13)</sup> | 537637 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 29607 | D | 104.10<sup>(14)</sup> | 508030 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 23172 | D | 104.67<sup>(15)</sup> | 484858 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 5465 | D | 105.95<sup>(16)</sup> | 479393 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 4668 | D | 106.84<sup>(17)</sup> | 474725 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 7833 | D | 108.01<sup>(18)</sup> | 466892 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 4255 | D | 108.76<sup>(19)</sup> | 462637 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 28500 | D | 104.09<sup>(20)</sup> | 434137 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 26621 | D | 104.61<sup>(21)</sup> | 407516 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 6169 | D | 105.96<sup>(22)</sup> | 401347 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 6095 | D | 106.77<sup>(23)</sup> | 395252 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 11880 | D | 108.18<sup>(24)</sup> | 383372 | D |  |
| Class A Common Stock | 2025-12-11 |  | S<sup>(1)</sup> |  | 6567 | D | 108.92<sup>(25)</sup> | 376805 | D |  |
| Class A Common Stock |  |  |  |  |  |  |  | 327 | I | I<sup>(26)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Employee Stock Option (Right to Buy) | $14.04 | 2025-12-11 |  | M<sup>(1)</sup> |  |  | 285832 | <sup>(27)</sup> | 2034-04-01 | Class A Common Stock | 285832 | $0 | 122500 | D |  |

---

### Footnotes:

(1) The transaction reported was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 12, 2025.

(2) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $103.35 to $104.35. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(3) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $104.36 to $105.32. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(4) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $105.36 to $106.34. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(5) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $106.38 to $107.23. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(6) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $107.52 to $108.52. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(7) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $108.53 to $109.07. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(8) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $103.35 to $104.35. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(9) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $104.36 to $105.34. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(10) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $105.36 to $106.35. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(11) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $106.38 to $107.38. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(12) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $107.43 to $108.43. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(13) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $108.44 to $109.38. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(14) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $103.35 to $104.35. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(15) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $104.36 to $105.36. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(16) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $105.37 to $106.35. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(17) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $106.38 to $107.38. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(18) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $107.43 to $108.43. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(19) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $108.44 to $109.38. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(20) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $103.35 to $104.35. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(21) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $104.36 to $105.36. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(22) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $105.37 to $106.37. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(23) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $106.45 to $107.35. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(24) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $107.53 to $108.53. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(25) Based on a weighted average sale price. The shares reported in this transaction were sold at prices ranging from $108.61 to $109.39. Information regarding the number of shares sold at each separate price will be made available upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

(26) By 401(K).

(27) 40% of the shares underlying these options vested immediately upon the grant date. The remaining 60% of the shares underlying these options vest 30% per year on each of April 1, 2025 and April 1, 2026.

**Signature:** /s/ Hamid Akhavan by Dean A. Manson, Attorney-in-Fact  
**Date:** 2025-12-15

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**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 Number.**