SEC Form 4 · accession 0001724194-18-000002
DISH Network CORP · DISH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ergen Two-Year 2017 DISH GRAT
10% Owner
Period of report
Nov 30, 2018
Accepted (ET)
Dec 4, 2018 · 4:27 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001001082
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Class B Common StockF1,F2 | — | Nov 30, 2018 | G | 29,196,663 | D | — | — | Class A Common Stock | 29,196,663 | 10,803,337 | D |
Explanation of responses
- F1On November 30, 2017, Mr. Charles W. Ergen established a Grantor Retained Annuity Trust ("GRAT"), the Ergen Two-Year 2017 DISH GRAT (the "Two-Year 2017 GRAT") and contributed 40,000,000 Class B shares to the Two-Year 2017 GRAT. The Two-Year 2017 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. The Two-Year 2017 GRAT is scheduled to expire in accordance with its terms on November 30, 2019. Mrs. Cantey M. Ergen serves as the trustee of such GRAT.
- F2Pursuant to the terms of the Two-Year 2017 GRAT, 29,196,663 Class B shares were distributed as an annuity to Mr. Ergen on November 30, 2018. Following this distribution, the Two-Year 2017 GRAT retained 10,803,337 Class B shares.