'EchoStar' CEO Exercises Stock Options Worth Billions, Expands Stake Despite Some Sales

EchoStar Corporation (NASDAQ: SATS) disclosed that its Chief Legal Officer and Chief Executive Officer exercised stock options in early June to acquire new shares and sold a portion of them on the open market.

On June 4, CLO Dean Manson exercised 10,000 options at an exercise price of $14.04 per share and immediately sold all shares at $119.50 each, realizing approximately $1.195 million (about KRW 1.6 billion) in cash. On June 5, CEO Hamid Akhavan exercised a total of 142,917 options at the same $14.04 strike price, then sold roughly 52,586 shares at around $121 per share, raising about $6.37 million (approximately KRW 8.6 billion) while retaining a substantial equity stake.

Meanwhile, Telluray Holdings, LLC—managed by founder Charles “Charlie” Ergen’s family—received approximately 2.92 million EchoStar Class B shares from a family trust on May 13 in a non-cash, intra-family transfer. This move reaffirmed the Ergen family’s influence, equivalent to about 6.05 million shares of EchoStar common stock in both equity and voting power.

Recently, EchoStar agreed to defer roughly $183 million of interest payments on three bonds issued by its DISH DBS subsidiary, pending incoming proceeds from its AT&T transaction. In its first quarter of fiscal 2026, the company reported revenue of about $3.67 billion and a net loss of approximately $146.9 million.

EchoStar is also proceeding with spectrum transactions—selling significant portions of its licensed frequencies to SpaceX and AT&T under U.S. regulatory approval—while simultaneously pursuing asset monetization and financial‐structure improvements.

Headquartered in Colorado, EchoStar is a satellite communications and networking company that, following its merger with Dish Network at the end of 2023, operates within a broader telecommunications and media group that includes Boost Mobile, Sling TV, DISH TV and HughesNet. Founder Charlie Ergen’s family remains the largest shareholder as the company reconfigures its portfolio through major spectrum sales, debt restructuring and investments in a satellite-5G hybrid network.