If the filing person has previously filed a statement on
Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e),
240.13d-1(f) or 240.13d-1(g), check the following box. ¨
* The remainder of this cover page shall be filled out for
a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment
containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page
shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
CUSIP No. 25470M 109
1 |
Name
of Reporting Person |
Charles
W. Ergen |
|
2 |
Check
the Appropriate Box if a Member of a Group: |
|
(a) ¨ |
(b) x |
3 |
SEC
Use Only |
|
|
4 |
Source
of Funds |
|
OO |
5 |
Check
if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) |
|
¨ |
6 |
Citizenship
or Place of Organization |
|
U.S.A. |
NUMBER
OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH |
7 |
Sole
Voting Power |
|
6,322,242
SHARES (1) (2) |
2,617,338
SIXTY DAY SHARES (3) |
8 |
Shared
Voting Power |
|
267,102,461
SHARES (1) (4) |
9 |
Sole
Dispositive Power |
|
6,322,242
SHARES (1) (2) |
2,617,338
SIXTY DAY SHARES (3) |
10 |
Shared
Dispositive Power |
|
267,102,461
SHARES (1) (4) |
11 |
Aggregate
Amount Beneficially Owned by the Reporting Person |
|
276,042,041 |
12 |
Check
if the Aggregate Amount in Row (11) Excludes Certain Shares |
|
¨ |
13 |
Percent
of Class Represented by Amount in Row (11) |
|
Approximately
51.7% (5) |
14 |
Type
of Reporting Person |
|
IN |
|
|
|
|
(1) Includes shares of Class A Common
Stock (“Class A Common Stock”) and Class B Common Stock (“Class B Common Stock”) of DISH Network Corporation
(“DISH Network”). The shares of Class B Common Stock are convertible into shares of Class A Common Stock on a one-for-one
basis at any time.
(2) Consists of: (i) 1,085,512 shares
of Class A Common Stock owned beneficially directly by Mr. Ergen; (ii) 21,447 shares of Class A Common Stock owned beneficially indirectly
by Mr. Ergen through DISH Network’s 401(k) Employee Savings Plan; and (iii) 5,215,283 shares of Class B Common Stock owned beneficially
directly by Mr. Ergen.
(3) “Sixty Day Shares” are
shares of Class A Common Stock deemed to be owned beneficially under Rule 13d-3(d)(1) because Mr. Ergen has the right to acquire beneficial
ownership of such shares within 60 days of the date hereof.
(4) Consists of: (i) 383 shares of Class
A Common Stock owned beneficially directly by Mr. Ergen’s spouse, Cantey M. Ergen; (ii) 2,732 shares of Class A Common Stock owned
beneficially indirectly by Mrs. Ergen through DISH Network’s 401(k) Employee Savings Plan; (iii) 10,957 shares of Class A Common
Stock owned beneficially by one of Mr. and Mrs. Ergen’s children; (iv) 2,168,975 shares of Class A Common Stock held by a charitable
foundation for which Mr. Ergen is an officer and for which he shares voting and dispositive power with Mrs. Ergen; (v) 63,790,620 shares
of Class B Common Stock and 6,699,489 shares of Class A Common Stock held by Telluray Holdings, LLC (“Telluray Holdings”),
for which Mrs. Ergen has sole voting power as a manager of Telluray Holdings and for which Mr. Ergen and Mrs. Ergen share dispositive
power as the managers of Telluray Holdings; (vi) 2,645,957 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by
virtue of her position as trustee of the Ergen Two-Year June 2021 DISH GRAT (the “Two-Year June 2021 GRAT”); (vii) 1,983,348
shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the Ergen Two-Year December
2021 DISH GRAT (the “Two-Year December 2021 GRAT”); (viii) 25,000,000 shares of Class A Common Stock and 22,800,000 shares
of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the Ergen Two-Year May 2022 DISH
GRAT (the “Two-Year May 2022 GRAT”); (ix) 87,000,000 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely
by virtue of her position as trustee of the Ergen Two-Year June 2022 DISH GRAT (the “Two-Year June 2022 GRAT”); and (x) 55,000,000
shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the Ergen Two-Year December
2022 DISH GRAT (the “Two-Year December 2022 GRAT”).
(5) Based on 292,716,917 shares of Class
A Common Stock outstanding on March 28, 2023 and assuming conversion of all the shares of Class B Common Stock held by Mr. Ergen into
Class A Common Stock. Because each share of Class B Common Stock is entitled to 10 votes per share, Mr. Ergen owns beneficially equity
securities of DISH Network representing approximately 90.4% of the voting power of DISH Network (assuming no conversion of the Class
B Common Stock).
CUSIP No. 25470M 109
1 |
Name
of Reporting Person |
Cantey
M. Ergen |
|
2 |
Check
the Appropriate Box if a Member of a Group: |
|
(a) ¨ |
(b) x |
3 |
SEC
Use Only |
|
|
4 |
Source
of Funds |
|
OO |
5 |
Check
if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) |
|
¨ |
6 |
Citizenship
or Place of Organization |
|
U.S.A. |
NUMBER
OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH |
7 |
Sole
Voting Power |
|
264,922,529
SHARES (1) (2)
20,000 SIXTY DAY SHARES (3) |
8 |
Shared
Voting Power |
|
8,502,174
SHARES (1) (4) |
9 |
Sole
Dispositive Power |
|
194,432,420 SHARES (1) (5)
20,000 SIXTY DAY SHARES (3) |
10 |
Shared
Dispositive Power |
|
78,992,283
SHARES (1) (6) |
11 |
Aggregate
Amount Beneficially Owned by the Reporting Person |
|
273,444,703 |
12 |
Check
if the Aggregate Amount in Row (11) Excludes Certain Shares |
|
¨ |
13 |
Percent
of Class Represented by Amount in Row (11) |
|
Approximately
51.5% (7) |
14 |
Type
of Reporting Person |
|
IN |
|
|
|
|
(1) Includes shares of Class A Common
Stock and Class B Common Stock. The shares of Class B Common Stock are convertible into shares of Class A Common Stock on a one-for-one
basis at any time.
(2) Consists of: (i) 383 shares of Class
A Common Stock owned beneficially directly by Mrs. Ergen; (ii) 2,732 shares of Class A Common Stock owned beneficially indirectly by
Mrs. Ergen through DISH Network’s 401(k) Employee Savings Plan; (iii) 63,790,620 shares of Class B Common Stock and 6,699,489 shares
of Class A Common Stock held by Telluray Holdings, for which Mrs. Ergen has sole voting power as a manager of Telluray Holdings; (iv)
2,645,957 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the Two-Year
June 2021 GRAT; (v) 1,983,348 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee
of the Two-Year December 2021 GRAT; (vi) 25,000,000 shares of Class A Common Stock and 22,800,000 shares of Class B Common Stock owned
beneficially by Mrs. Ergen solely by virtue of her position as trustee of the Two-Year May 2022 GRAT; (vii) 87,000,000 shares of Class
B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the Two-Year June 2022 GRAT; and (viii)
55,000,000 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the Two-Year
December 2022 GRAT. There is no arrangement or agreement between Telluray Holdings and any of the trusts identified in clauses (iv) -
(viii) above to vote any shares of DISH Network. Mrs. Ergen exercises voting power with respect to Telluray Holdings and each such trust
independently, and with respect to the trusts identified in clauses (iv) through (ix), in accordance with her fiduciary responsibilities
to the beneficiaries of such trusts.
(3) “Sixty Day Shares” are
shares of Class A Common Stock deemed to be owned beneficially under Rule 13d-3(d)(1) because Mrs. Ergen has the right to acquire beneficial
ownership of such shares within 60 days of the date hereof.
(4) Consists of: (i) 1,085,512 shares
of Class A Common Stock owned beneficially directly by Mr. Ergen, Mrs. Ergen’s spouse; (ii) 21,447 shares of Class A Common Stock
owned beneficially indirectly by Mr. Ergen through DISH Network’s 401(k) Employee Savings Plan; (iii) 5,215,283 shares of Class
B Common Stock owned beneficially directly by Mr. Ergen; (iv) 10,957 shares of Class A Common Stock owned beneficially by one of Mr.
and Mrs. Ergen’s children; and (v) 2,168,975 shares of Class A Common Stock held by a charitable foundation for which Mrs. Ergen
is an officer and for which she shares voting and dispositive power with Mr. Ergen.
(5) Consists of: (i) 383 shares of Class
A Common Stock owned beneficially directly by Mrs. Ergen; (ii) 2,732 shares of Class A Common Stock owned beneficially indirectly by
Mrs. Ergen through DISH Network’s 401(k) Employee Savings Plan; (iii) 2,645,957 shares of Class B Common Stock owned beneficially
by Mrs. Ergen solely by virtue of her position as trustee of the Two-Year June 2021 GRAT; (iv) 1,983,348 shares of Class B Common Stock
owned beneficially by Mrs. Ergen solely by virtue of her position as trustee of the Two-Year December 2021 GRAT; (v) 25,000,000 shares
of Class A Common Stock and 22,800,000 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue of her position
as trustee of the Two-Year May 2022 GRAT; (vi) 87,000,000 shares of Class B Common Stock owned beneficially by Mrs. Ergen solely by virtue
of her position as trustee of the Two-Year June 2022 GRAT; and (vii) 55,000,000 shares of Class B Common Stock owned beneficially by
Mrs. Ergen solely by virtue of her position as trustee of the Two-Year December 2022 GRAT. There is no arrangement or agreement between
any of the trusts identified in clauses (iii) - (vii) above to dispose of any shares of DISH Network. Mrs. Ergen exercises dispositive
power with respect to each such trust independently and in accordance with her fiduciary responsibilities to the beneficiaries of such
trusts.
(6) Consists of: (i) 1,085,512 shares
of Class A Common Stock owned beneficially directly by Mr. Ergen, Mrs. Ergen’s spouse; (ii) 21,447 shares of Class A Common Stock
owned beneficially indirectly by Mr. Ergen through DISH Network’s 401(k) Employee Savings Plan; (iii) 5,215,283 shares of Class
B Common Stock owned beneficially directly by Mr. Ergen; (iv) 10,957 shares of Class A Common Stock owned beneficially by one of Mr.
and Mrs. Ergen’s children; (v) 2,168,975 shares of Class A Common Stock held by a charitable foundation for which Mrs. Ergen is
an officer and for which she shares voting and dispositive power with Mr. Ergen; and (vi) 63,790,620 shares of Class B Common Stock and
6,699,489 shares of Class A Common Stock held by Telluray Holdings, for which Mr. Ergen and Mrs. Ergen share dispositive power as the
managers of Telluray Holdings.
(7) Based on 292,716,917 shares of Class
A Common Stock outstanding on March 28, 2023 and assuming conversion of all the shares of Class B Common Stock held by Mrs. Ergen into
Class A Common Stock. Because each share of Class B Common Stock is entitled to 10 votes per share, Mrs. Ergen owns beneficially equity
securities of DISH Network representing approximately 90.4% of the voting power of DISH Network (assuming no conversion of the Class
B Common Stock).
CUSIP No. 25470M 109
1 |
Name
of Reporting Person |
Ergen
Two-Year March 2021 DISH GRAT |
|
2 |
Check
the Appropriate Box if a Member of a Group: |
|
(a) ¨ |
(b) x |
3 |
SEC
Use Only |
|
|
4 |
Source
of Funds |
|
OO |
5 |
Check
if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) |
|
¨ |
6 |
Citizenship
or Place of Organization |
|
Colorado |
NUMBER
OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH |
7 |
Sole
Voting Power |
|
0
SHARES |
8 |
Shared
Voting Power |
|
0 |
9 |
Sole
Dispositive Power |
|
0
SHARES |
10 |
Shared
Dispositive Power |
|
0 |
11 |
Aggregate
Amount Beneficially Owned by the Reporting Person |
|
0
SHARES |
12 |
Check
if the Aggregate Amount in Row (11) Excludes Certain Shares |
|
¨ |
13 |
Percent
of Class Represented by Amount in Row (11) |
|
Approximately
0.0% |
14 |
Type
of Reporting Person |
|
OO |
|
|
|
|
CUSIP No. 25470M 109
1 |
Name
of Reporting Person |
Ergen
Two-Year June 2021 DISH GRAT |
|
2 |
Check
the Appropriate Box if a Member of a Group: |
|
(a) ¨ |
(b) x |
3 |
SEC
Use Only |
|
|
4 |
Source
of Funds |
|
OO |
5 |
Check
if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) |
|
¨ |
6 |
Citizenship
or Place of Organization |
|
Colorado |
NUMBER
OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH |
7 |
Sole
Voting Power |
|
2,645,957
SHARES (1) |
8 |
Shared
Voting Power |
|
0 |
9 |
Sole
Dispositive Power |
|
2,645,957
SHARES (1) |
10 |
Shared
Dispositive Power |
|
0 |
11 |
Aggregate
Amount Beneficially Owned by the Reporting Person |
|
2,645,957
SHARES |
12 |
Check
if the Aggregate Amount in Row (11) Excludes Certain Shares |
|
¨ |
13 |
Percent
of Class Represented by Amount in Row (11) |
|
Approximately
0.9% (2) |
14 |
Type
of Reporting Person |
|
OO |
|
|
|
|
(1) All of the shares beneficially held
by the Two-Year June 2021 GRAT are shares of Class B Common Stock. The shares of Class B Common Stock are convertible into shares of
Class A Common Stock on a one-for-one basis at any time.
(2) Based on 292,716,917 shares of Class
A Common Stock outstanding on March 28, 2023 and assuming conversion of all the shares of Class B Common Stock held by the Two-Year June
2021 GRAT into Class A Common Stock. Because such Class B Common Stock is convertible on a one-for-one basis into Class A Common Stock,
assuming conversion of all shares of outstanding Class B Common Stock into Class A Common Stock, the percentage of the Class A Common
Stock that the Two-Year June 2021 GRAT may be deemed to own beneficially would be approximately 0.5%. Because each share of Class B Common
Stock is entitled to 10 votes per share, the Two-Year June 2021 GRAT owns beneficially equity securities of DISH Network representing
approximately 1.0% of the voting power of DISH Network (assuming no conversion of the Class B Common Stock).
CUSIP No. 25470M 109
1 |
Name
of Reporting Person |
Ergen
Two-Year December 2021 DISH GRAT |
|
2 |
Check
the Appropriate Box if a Member of a Group: |
|
(a) ¨ |
(b) x |
3 |
SEC
Use Only |
|
|
4 |
Source
of Funds |
|
OO |
5 |
Check
if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) |
|
¨ |
6 |
Citizenship
or Place of Organization |
|
Colorado |
NUMBER
OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH |
7 |
Sole
Voting Power |
|
1,983,348
SHARES (1) |
8 |
Shared
Voting Power |
|
0 |
9 |
Sole
Dispositive Power |
|
1,983,348
SHARES (1) |
10 |
Shared
Dispositive Power |
|
0 |
11 |
Aggregate
Amount Beneficially Owned by the Reporting Person |
|
1,983,348
SHARES |
12 |
Check
if the Aggregate Amount in Row (11) Excludes Certain Shares |
|
¨ |
13 |
Percent
of Class Represented by Amount in Row (11) |
|
Approximately
0.7% (2) |
14 |
Type
of Reporting Person |
|
OO |
|
|
|
|
(1) All of the shares beneficially held
by the Two-Year December 2021 GRAT are shares of Class B Common Stock. The shares of Class B Common Stock are convertible into shares
of Class A Common Stock on a one-for-one basis at any time.
(2) Based on 292,716,917 shares of Class
A Common Stock outstanding on March 28, 2023 and assuming conversion of all the shares of Class B Common Stock held by the Two-Year December
2021 GRAT into Class A Common Stock. Because such Class B Common Stock is convertible on a one-for-one basis into Class A Common Stock,
assuming conversion of all shares of outstanding Class B Common Stock into Class A Common Stock, the percentage of the Class A Common
Stock that the Two-Year December 2021 GRAT may be deemed to own beneficially would be approximately 0.4%. Because each share of Class
B Common Stock is entitled to 10 votes per share, the Two-Year December 2021 GRAT owns beneficially equity securities of DISH Network
representing approximately 0.7% of the voting power of DISH Network (assuming no conversion of the Class B Common Stock).
CUSIP No. 25470M 109
1 |
Name
of Reporting Person |
Ergen
Two-Year May 2022 DISH GRAT |
|
2 |
Check
the Appropriate Box if a Member of a Group: |
|
(a) ¨ |
(b) x |
3 |
SEC
Use Only |
|
|
4 |
Source
of Funds |
|
OO |
5 |
Check
if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) |
|
¨ |
6 |
Citizenship
or Place of Organization |
|
Colorado |
NUMBER
OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH |
7 |
Sole
Voting Power |
|
47,800,000
SHARES (1) |
8 |
Shared
Voting Power |
|
0 |
9 |
Sole
Dispositive Power |
|
47,800,000
SHARES (1) |
10 |
Shared
Dispositive Power |
|
0 |
11 |
Aggregate
Amount Beneficially Owned by the Reporting Person |
|
47,800,000
SHARES |
12 |
Check
if the Aggregate Amount in Row (11) Excludes Certain Shares |
|
¨ |
13 |
Percent
of Class Represented by Amount in Row (11) |
|
Approximately
15.2% (2) |
14 |
Type
of Reporting Person |
|
OO |
|
|
|
|
(1) Includes 25,000,000 shares of Class
A Common Stock and 22,800,000 shares of Class B Common Stock. The shares of Class B Common Stock are convertible into shares of Class
A Common Stock on a one-for-one basis at any time.
(2) Based on 292,716,917 shares of Class
A Common Stock outstanding on March 28, 2023 and assuming conversion of all the shares of Class B Common Stock held by the Two-Year May
2022 GRAT into Class A Common Stock. Because such Class B Common Stock is convertible on a one-for-one basis into Class A Common Stock,
assuming conversion of all shares of outstanding Class B Common Stock into Class A Common Stock, the percentage of the Class A Common
Stock that the Two-Year May 2022 GRAT may be deemed to own beneficially would be approximately 9.0%. Because each share of Class B Common
Stock is entitled to 10 votes per share, the Two-Year May 2022 GRAT owns beneficially equity securities of DISH Network representing
approximately 9.5% of the voting power of DISH Network (assuming no conversion of the Class B Common Stock).
CUSIP No. 25470M 109
1 |
Name
of Reporting Person |
Ergen
Two-Year June 2022 DISH GRAT |
|
2 |
Check
the Appropriate Box if a Member of a Group: |
|
(a) ¨ |
(b) x |
3 |
SEC
Use Only |
|
|
4 |
Source
of Funds |
|
OO |
5 |
Check
if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) |
|
¨ |
6 |
Citizenship
or Place of Organization |
|
Colorado |
NUMBER
OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH |
7 |
Sole
Voting Power |
|
87,000,000
SHARES (1) |
8 |
Shared
Voting Power |
|
0 |
9 |
Sole
Dispositive Power |
|
87,000,000
SHARES (1) |
10 |
Shared
Dispositive Power |
|
0 |
11 |
Aggregate
Amount Beneficially Owned by the Reporting Person |
|
87,000,000
SHARES |
12 |
Check
if the Aggregate Amount in Row (11) Excludes Certain Shares |
|
¨ |
13 |
Percent
of Class Represented by Amount in Row (11) |
|
Approximately
23.0% (2) |
14 |
Type
of Reporting Person |
|
OO |
|
|
|
|
(1) All of the shares beneficially held
by the Two-Year June 2022 GRAT are shares of Class B Common Stock. The shares of Class B Common Stock are convertible into shares of
Class A Common Stock on a one-for-one basis at any time.
(2) Based on 292,716,917 shares of Class
A Common Stock outstanding on March 28, 2023 and assuming conversion of all the shares of Class B Common Stock held by the Two-Year June
2022 GRAT into Class A Common Stock. Because such Class B Common Stock is convertible on a one-for-one basis into Class A Common Stock,
assuming conversion of all shares of outstanding Class B Common Stock into Class A Common Stock, the percentage of the Class A Common
Stock that the Two-Year June 2022 GRAT may be deemed to own beneficially would be approximately 16.4%. Because each share of Class B
Common Stock is entitled to 10 votes per share, the Two-Year June 2022 GRAT owns beneficially equity securities of DISH Network representing
approximately 32.5% of the voting power of DISH Network (assuming no conversion of the Class B Common Stock).
CUSIP No. 25470M 109
1 |
Name
of Reporting Person |
Ergen
Two-Year December 2022 DISH GRAT |
|
2 |
Check
the Appropriate Box if a Member of a Group: |
|
(a) ¨ |
(b) x |
3 |
SEC
Use Only |
|
|
4 |
Source
of Funds |
|
OO |
5 |
Check
if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2€ |
|
¨ |
6 |
Citizenship
or Place of Organization |
|
Colorado |
NUMBER
OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH |
7 |
Sole
Voting Power |
|
55,000,000
SHARES (1) |
8 |
Shared
Voting Power |
|
0 |
9 |
Sole
Dispositive Power |
|
55,000,000
SHARES (1) |
10 |
Shared
Dispositive Power |
|
0 |
11 |
Aggregate
Amount Beneficially Owned by the Reporting Person |
|
55,000,000
SHARES |
12 |
Check
if the Aggregate Amount in Row (11) Excludes Certain Shares |
|
¨ |
13 |
Percent
of Class Represented by Amount in Row (11) |
|
Approximately
15.8% (2) |
14 |
Type
of Reporting Person |
|
OO |
|
|
|
|
(1) All of the shares beneficially held
by the Two-Year December 2022 GRAT are shares of Class B Common Stock. The shares of Class B Common Stock are convertible into shares
of Class A Common Stock on a one-for-one basis at any time.
(2) Based on 292,716,917 shares of Class
A Common Stock outstanding on March 28, 2023 and assuming conversion of all the shares of Class B Common Stock held by the Two-Year December
2022 GRAT into Class A Common Stock. Because such Class B Common Stock is convertible on a one-for-one basis into Class A Common Stock,
assuming conversion of all shares of outstanding Class B Common Stock into Class A Common Stock, the percentage of the Class A Common
Stock that the Two-Year December 2022 GRAT may be deemed to own beneficially would be approximately 10.4%. Because each share of Class
B Common Stock is entitled to 10 votes per share, the Two-Year December 2022 GRAT owns beneficially equity securities of DISH Network
representing approximately 20.5% of the voting power of DISH Network (assuming no conversion of the Class B Common Stock).
CUSIP No. 25470M 109
1 |
Name
of Reporting Person |
Telluray
Holdings, LLC |
|
2 |
Check
the Appropriate Box if a Member of a Group: |
|
(a) ¨ |
(b) x |
3 |
SEC
Use Only |
|
|
4 |
Source
of Funds |
|
OO |
5 |
Check
if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) |
|
¨ |
6 |
Citizenship
or Place of Organization |
|
Wyoming |
NUMBER
OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH |
7 |
Sole
Voting Power |
|
70,490,109
SHARES (1) |
8 |
Shared
Voting Power |
|
0 |
9 |
Sole
Dispositive Power |
|
70,490,109
SHARES (1) |
10 |
Shared
Dispositive Power |
|
0 |
11 |
Aggregate
Amount Beneficially Owned by the Reporting Person |
|
70,490,109
SHARES |
12 |
Check
if the Aggregate Amount in Row (11) Excludes Certain Shares |
|
¨ |
13 |
Percent
of Class Represented by Amount in Row (11) |
|
Approximately
19.8% (2) |
14 |
Type
of Reporting Person |
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OO |
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(1) Includes shares of Class A Common
Stock and Class B Common Stock, of which Telluray Holdings is the beneficial owner. The shares of Class B Common Stock are convertible
into shares of Class A Common Stock on a one-for-one basis at any time. Consists of: (i) 63,790,620 shares of Class B Common Stock; and
(ii) 6,699,489 shares of Class A Common Stock, for which Mrs. Ergen has sole voting power as a manager of Telluray Holdings and for which
Mr. Ergen and Mrs. Ergen share dispositive power as the managers of Telluray Holdings.
(2) Based on 292,716,917 shares of Class
A Common Stock outstanding on March 28, 2023 and assuming conversion of all the shares of Class B Common Stock held by Telluray Holdings
into Class A Common Stock. Because such Class B Common Stock is convertible on a one-for-one basis into Class A Common Stock, assuming
conversion of all shares of outstanding Class B Common Stock into Class A Common Stock, the percentage of the Class A Common Stock that
Telluray Holdings may be deemed to own beneficially would be approximately 13.3%. Because each share of Class B Common Stock is entitled
to 10 votes per share, Telluray Holdings owns beneficially equity securities of DISH Network representing approximately 24.1% of the
voting power of DISH Network (assuming no conversion of the Class B Common Stock).
Item 2. Identity and
Background.
Item 2 is amended and restated as follows:
This statement is being filed jointly
by: (a) Charles W. Ergen; (b) Cantey M. Ergen; (c) the Ergen Two-Year March 2021 DISH GRAT (the “Two-Year March 2021 GRAT”);
(d) the Two-Year June 2021 GRAT; (e) the Two-Year December 2021 GRAT; (f) the Two-Year May 2022 GRAT; (g) the Two-Year June 2022 GRAT;
(h) the Two-Year December 2022 GRAT; and (i) Telluray Holdings, who are together referred to as the “Reporting Persons.”
This Schedule 13D relates solely to, and is being filed for, shares held by Mr. and Mrs. Ergen, the Two-Year March 2021 GRAT, the Two-Year
June 2021 GRAT, the Two-Year December 2021 GRAT, the Two-Year May 2022 GRAT, the Two-Year June 2022 GRAT, the Two-Year December 2022
GRAT and Telluray Holdings.
(A) Charles W. Ergen
Mr. Ergen’s principal occupation
is Chairman of DISH Network and Chairman of EchoStar Corporation (“EchoStar”), and his principal address is 9601 S. Meridian
Blvd., Englewood, Colorado 80112. Mr. Ergen has not, during the last five years: (i) been convicted in a criminal proceeding (excluding
traffic violations or similar misdemeanors); or (ii) been a party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and, as a result of such proceeding, been subject to a judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activity subject to, federal or state securities laws or finding any violation with respect to such laws. Mr.
Ergen is a citizen of the United States.
(B) Cantey M. Ergen
Mrs. Ergen is a Senior Advisor and member
of the Board of Directors of DISH Network and her principal address is 9601 S. Meridian Blvd., Englewood, Colorado 80112. Mrs. Ergen
has not, during the last five years: (i) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors);
or (ii) been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding,
been subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activity subject to, federal
or state securities laws or finding any violation with respect to such laws. Mrs. Ergen is a citizen of the United States.
(C) Two-Year March 2021 GRAT
The Two-Year March 2021 GRAT was formed
under the laws of the State of Colorado and its principal business is to hold a portion of the assets and estate of Mr. Ergen. Its address
is c/o Cantey M. Ergen, as Trustee, at 9601 S. Meridian Blvd., Englewood, Colorado 80112. The Two-Year March 2021 GRAT has not, during
the last five years: (i) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors); or (ii) been
a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, been
subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activity subject to, federal
or state securities laws or finding any violation with respect to such laws.
(D) Two-Year June 2021 GRAT
The Two-Year June 2021 GRAT was formed
under the laws of the State of Colorado and its principal business is to hold a portion of the assets and estate of Mr. Ergen. Its address
is c/o Cantey M. Ergen, as Trustee, at 9601 S. Meridian Blvd., Englewood, Colorado 80112. The Two-Year June 2021 GRAT has not, during
the last five years: (i) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors); or (ii) been
a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, been
subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activity subject to, federal
or state securities laws or finding any violation with respect to such laws. As trustee of the Two-Year June 2021 GRAT, Mrs. Ergen is
vested with sole voting and dispositive power over the 2,645,957 shares of Class B Common Stock held by the Two-Year June 2021 GRAT,
except as set forth in Item 6.
(E) Two-Year December 2021 GRAT
The Two-Year December 2021 GRAT was
formed under the laws of the State of Colorado and its principal business is to hold a portion of the assets and estate of Mr. Ergen.
Its address is c/o Cantey M. Ergen, as Trustee, at 9601 S. Meridian Blvd., Englewood, Colorado 80112. The Two-Year December 2021 GRAT
has not, during the last five years: (i) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors);
or (ii) been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding,
been subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activity subject to, federal
or state securities laws or finding any violation with respect to such laws. As trustee of the Two-Year December 2021 GRAT, Mrs. Ergen
is vested with sole voting and dispositive power over the 1,983,348 shares of Class B Common Stock held by the Two-Year December 2021
GRAT, except as set forth in Item 6.
(F) Two-Year May 2022 GRAT
The Two-Year May 2022 GRAT was formed
under the laws of the State of Colorado and its principal business is to hold a portion of the assets and estate of Mr. Ergen. Its address
is c/o Cantey M. Ergen, as Trustee, at 9601 S. Meridian Blvd., Englewood, Colorado 80112. The Two-Year May 2022 GRAT has not, during
the last five years: (i) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors); or (ii) been
a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, been
subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activity subject to, federal
or state securities laws or finding any violation with respect to such laws. As trustee of the Two-Year May 2022 GRAT, Mrs. Ergen is
vested with sole voting and dispositive power over the 25,000,000 shares of Class A Common Stock and 22,800,000 shares of Class B Common
Stock held by the Two-Year May 2022 GRAT, except as set forth in Item 6.
(G) Two-Year June 2022 GRAT
The Two-Year June 2022 GRAT was formed
under the laws of the State of Colorado and its principal business is to hold a portion of the assets and estate of Mr. Ergen. Its address
is c/o Cantey M. Ergen, as Trustee, at 9601 S. Meridian Blvd., Englewood, Colorado 80112. The Two-Year June 2022 GRAT has not, during
the last five years: (i) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors); or (ii) been
a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, been
subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activity subject to, federal
or state securities laws or finding any violation with respect to such laws. As trustee of the Two-Year June 2022 GRAT, Mrs. Ergen is
vested with sole voting and dispositive power over the 87,000,000 shares of Class B Common Stock held by the Two-Year June 2022 GRAT,
except as set forth in Item 6.
(H) Two-Year December 2022 GRAT
The Two-Year December 2022 GRAT was
formed under the laws of the State of Colorado and its principal business is to hold a portion of the assets and estate of Mr. Ergen.
Its address is c/o Cantey M. Ergen, as Trustee, at 9601 S. Meridian Blvd., Englewood, Colorado 80112. The Two-Year December 2022 GRAT
has not, during the last five years: (i) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors);
or (ii) been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding,
been subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activity subject to, federal
or state securities laws or finding any violation with respect to such laws. As trustee of the Two-Year December 2022 GRAT, Mrs. Ergen
is vested with sole voting and dispositive power over the 55,000,000 shares of Class B Common Stock held by the Two-Year December 2022
GRAT, except as set forth in Item 6.
(I) Telluray Holdings
Telluray Holdings is a limited liability
company organized under the laws of the State of Wyoming and its principal business is to hold a portion of the assets and estate of
Mr. Ergen and to hold certain assets of certain trusts established for the benefit of his family. Its address is 1623 Central Avenue,
Suite 214, Cheyenne, Wyoming 82001. Telluray Holdings has not, during the last five years: (i) been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors); or (ii) been a party to a civil proceeding of a judicial or administrative body
of competent jurisdiction and, as a result of such proceeding, been subject to a judgment, decree or final order enjoining future violations
of, or prohibiting or mandating activity subject to, federal or state securities laws or finding any violation with respect to such laws.
Mr. Ergen and certain trusts established
for the benefit of his family are the members of Telluray Holdings. Mr. Ergen and Mrs. Ergen are the managers of Telluray Holdings. As
a manager of Telluray Holdings, Mrs. Ergen has sole voting power over the 6,699,489 shares of Class A Common Stock and 63,790,620 shares
of Class B Common Stock held by Telluray Holdings. As managers of Telluray Holdings, Mr. Ergen and Mrs. Ergen share dispositive power
over the shares of Class A Common Stock and shares of Class B Common Stock held by Telluray Holdings.
Item 4. Purpose of Transaction.
Item 4 is hereby amended and supplemented
as follows:
During
the first quarter of each year, Mr. Ergen receives an annuity amount from the Two-Year March 2021 GRAT, assuming that the Two-Year
March 2021 GRAT has not expired. The number of shares of Class B Common Stock to be distributed as an annuity payment is based
in part on the price of the Class A Common Stock on the distribution date and therefore cannot be calculated until the date of distribution.
In addition to shares of Class B Common Stock, the annuity payments (and their associated timing) may include, and be based upon,
amounts generated from the holdings of the Two-Year March 2021 GRAT including, among other things, stock recapitalizations or dividends
paid or payable with respect to the shares of Class B Common Stock held by the Two-Year March 2021 GRAT. On March 30, 2023,
the Two-Year March 2021 GRAT distributed all 4,857,982 shares of Class B Common Stock held by the Two-Year March 2021 GRAT to Mr. Ergen
as an annuity payment, and the Two-Year March 2021 GRAT expired in accordance with its terms.
Item 5. Interest in
Securities of the Issuer.
Item 5 is hereby amended and supplemented
as follows:
(a) This filing
is for the cumulative share holdings of an affiliated group as of March 30, 2023. See Items 11 and 13 of the cover pages to this Amendment
No. 65 for the aggregate number of shares of Class A Common Stock and percentage of Class A Common Stock beneficially owned by each of
the Reporting Persons. The Reporting Persons’ beneficial ownership of shares of Class A Common Stock excludes 677,965 shares of
Class A Common Stock held by certain trusts established by Mr. Ergen for the benefit of his family. Mr. Ergen and Mrs. Ergen disclaim
beneficial ownership of the 63,790,620 shares of Class B Common Stock and the 6,699,489 shares of Class A Common Stock held by Telluray
Holdings, except to the extent of their pecuniary interest.
(b) See Items 7
through 10 of the cover pages to this Amendment No. 65 for the number of shares of Class A Common Stock beneficially owned by each of
the Reporting Persons as to which there is sole power to vote or to direct the vote, shared power to vote or to direct the vote and sole
or shared power to dispose or to direct the disposition.
(c) The Reporting
Persons have not effected any transactions in the Class A Common Stock of DISH Network in the last sixty days other than as described
herein.
(d) Not applicable.
(e) On March 30,
2023, the Two-Year March 2021 GRAT distributed all 4,857,982 shares of Class B Common Stock held by the Two-Year March 2021 GRAT
to Mr. Ergen as an annuity payment, and the Two-Year March 2021 GRAT expired in accordance with its terms.
Item 7. Material to
be Filed as Exhibits.
Item 7 is hereby amended and supplemented
as follows:
Exhibit A: Agreement of Joint Filing.
Exhibit B: Power of Attorney of Charles W. Ergen (incorporated by reference from Exhibit B to the reporting person’s Schedule 13D dated November 30, 2020 and filed with the Securities and Exchange Commission on December 1, 2020).
Exhibit C: Power of Attorney of Cantey M. Ergen (incorporated by reference from Exhibit C to the reporting person’s Schedule 13D dated November 30, 2020 and filed with the Securities and Exchange Commission on December 1, 2020).
Exhibit D: Power of Attorney of Telluray Holdings, LLC (incorporated by reference from Exhibit J to the reporting person’s Schedule 13D dated November 30, 2020 and filed with the Securities and Exchange Commission on December 1, 2020).
Exhibit E: Power of Attorney of Two-Year March 2021 DISH GRAT (incorporated by reference from Exhibit K to the reporting person’s Schedule 13D dated March 30, 2021 and filed with the Securities and Exchange Commission on March 31, 2021).
Exhibit F: Power of Attorney of Two-Year June 2021 DISH GRAT (incorporated by reference from Exhibit J to the reporting person’s Schedule 13D dated June 3, 2021 and filed with the Securities and Exchange Commission on June 4, 2021).
Exhibit G: Power of Attorney of Two-Year December 2021 DISH GRAT (incorporated by reference from Exhibit K to the reporting person’s Schedule 13D dated December 3, 2021 and filed with the Securities and Exchange Commission on December 6, 2021).
Exhibit H: Power of Attorney of Two-Year May 2022 DISH GRAT (incorporated by reference from Exhibit J to the reporting person’s Schedule 13D dated May 12, 2022 and filed with the Securities and Exchange Commission on May 13, 2022).
Exhibit I: Power of Attorney of Two-Year June 2022 DISH GRAT (incorporated by reference from Exhibit J to the reporting person’s Schedule 13D dated June 23, 2022 and filed with the Securities and Exchange Commission on June 24, 2022).
Exhibit J: Power of Attorney of Two-Year December 2022 DISH GRAT (incorporated by reference from Exhibit K to the reporting person’s Schedule 13D dated December 22, 2022 and filed with the Securities and Exchange Commission on December 23, 2022).
SIGNATURE
After reasonable inquiry and to the
best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
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CHARLES W. ERGEN |
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/s/
Robert J. Hooke |
Dated: March 31, 2023 |
Charles W. Ergen by Robert J. Hooke, attorney-in-fact |
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CANTEY M. ERGEN |
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/s/
Robert J. Hooke |
Dated: March 31, 2023 |
Cantey M. Ergen, by Robert J. Hooke, attorney-in-fact |
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ERGEN TWO-YEAR MARCH 2021 DISH GRAT |
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/s/ Robert J. Hooke |
Dated: March 31, 2023 |
Cantey M. Ergen, Trustee by Robert J. Hooke, attorney-in-fact |
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ERGEN TWO-YEAR JUNE 2021 DISH GRAT |
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/s/ Robert J. Hooke |
Dated: March 31, 2023 |
Cantey M. Ergen, Trustee by Robert J. Hooke, attorney-in-fact |
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ERGEN TWO-YEAR DECEMBER 2021 DISH GRAT |
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/s/ Robert J. Hooke |
Dated: March 31, 2023 |
Cantey M. Ergen, Trustee by Robert J. Hooke, attorney-in-fact |
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ERGEN TWO-YEAR MAY 2022 DISH GRAT |
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/s/ Robert J. Hooke |
Dated: March 31, 2023 |
Cantey M. Ergen, Trustee by Robert J. Hooke, attorney-in-fact |
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ERGEN TWO-YEAR JUNE 2022 DISH GRAT |
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/s/ Robert J. Hooke |
Dated: March 31, 2023 |
Cantey M. Ergen, Trustee by Robert J. Hooke, attorney-in-fact |
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ERGEN TWO-YEAR DECEMBER 2022 DISH GRAT |
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/s/ Robert J. Hooke |
Dated: March 31, 2023 |
Cantey M. Ergen, Trustee by Robert J. Hooke, attorney-in-fact |
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TELLURAY HOLDINGS, LLC |
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/s/ Robert J. Hooke |
Dated: March 31, 2023 |
Cantey M. Ergen, Manager by Robert J. Hooke, attorney-in-fact |
Attention: Intentional
misstatements or omissions of fact
constitutes Federal
criminal violations (See 18 U.S.C. 1001)
EXHIBIT INDEX
Exhibit A: Agreement of Joint Filing.
Exhibit B: Power of Attorney of Charles W. Ergen (incorporated by reference from Exhibit B to the reporting person’s Schedule 13D dated November 30, 2020 and filed with the Securities and Exchange Commission on December 1, 2020).
Exhibit C: Power of Attorney of Cantey M. Ergen (incorporated by reference from Exhibit C to the reporting person’s Schedule 13D dated November 30, 2020 and filed with the Securities and Exchange Commission on December 1, 2020).
Exhibit D: Power of Attorney of Telluray Holdings, LLC (incorporated by reference from Exhibit J to the reporting person’s Schedule 13D dated November 30, 2020 and filed with the Securities and Exchange Commission on December 1, 2020).
Exhibit E: Power of Attorney of Two-Year March 2021 DISH GRAT (incorporated by reference from Exhibit K to the reporting person’s Schedule 13D dated March 30, 2021 and filed with the Securities and Exchange Commission on March 31, 2021).
Exhibit F: Power of Attorney of Two-Year June 2021 DISH GRAT (incorporated by reference from Exhibit J to the reporting person’s Schedule 13D dated June 3, 2021 and filed with the Securities and Exchange Commission on June 4, 2021).
Exhibit G: Power of Attorney of Two-Year December 2021 DISH GRAT (incorporated by reference from Exhibit K to the reporting person’s Schedule 13D dated December 3, 2021 and filed with the Securities and Exchange Commission on December 6, 2021).
Exhibit H: Power of Attorney of Two-Year May 2022 DISH GRAT (incorporated by reference from Exhibit J to the reporting person’s Schedule 13D dated May 12, 2022 and filed with the Securities and Exchange Commission on May 13, 2022).
Exhibit I: Power of Attorney of Two-Year June 2022 DISH GRAT (incorporated by reference from Exhibit J to the reporting person’s Schedule 13D dated June 23, 2022 and filed with the Securities and Exchange Commission on June 24, 2022).
Exhibit J: Power of Attorney of Two-Year December 2022 DISH GRAT (incorporated by reference from Exhibit K to the reporting person’s Schedule 13D dated December 22, 2022 and filed with the Securities and Exchange Commission on December 23, 2022).
EXHIBIT A
Agreement of Joint Filing
Pursuant to Rule 13d-1(k)(l)(iii) of Regulation 13D-G of the General
Rules and Regulations of the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, the undersigned
agree that the statement on Schedule 13D/A to which this Exhibit is attached is filed on behalf of each of them in the capacities set
forth below.
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CHARLES W. ERGEN |
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/s/ Robert J. Hooke |
Dated: March 31, 2023 |
Charles W. Ergen by Robert J. Hooke, attorney-in-fact |
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CANTEY M. ERGEN |
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/s/ Robert J. Hooke |
Dated: March 31, 2023 |
Cantey M. Ergen by Robert J. Hooke, attorney-in-fact |
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ERGEN TWO-YEAR MARCH 2021 DISH GRAT |
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/s/ Robert J. Hooke |
Dated: March 31, 2023 |
Cantey M. Ergen, Trustee by Robert J. Hooke, attorney-in-fact |
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ERGEN TWO-YEAR JUNE 2021 DISH GRAT |
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/s/ Robert J. Hooke |
Dated: March 31, 2023 |
Cantey M. Ergen, Trustee by Robert J. Hooke, attorney-in-fact |
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ERGEN TWO-YEAR DECEMBER 2021 DISH GRAT |
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/s/ Robert J. Hooke |
Dated: March 31, 2023 |
Cantey M. Ergen, Trustee by Robert J. Hooke, attorney-in-fact |
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ERGEN TWO-YEAR MAY 2022 DISH GRAT |
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/s/ Robert J. Hooke |
Dated: March 31, 2023 |
Cantey M. Ergen, Trustee by Robert J. Hooke, attorney-in-fact |
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ERGEN TWO-YEAR JUNE 2022 DISH GRAT |
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/s/ Robert J. Hooke |
Dated: March 31, 2023 |
Cantey M. Ergen, Trustee by Robert J. Hooke, attorney-in-fact |
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ERGEN TWO-YEAR DECEMBER 2022 DISH GRAT |
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/s/ Robert J. Hooke |
Dated: March 31, 2023 |
Cantey M. Ergen, Trustee by Robert J. Hooke, attorney-in-fact |
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TELLURAY HOLDINGS, LLC |
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/s/ Robert J. Hooke |
Dated: March 31, 2023 |
Cantey M. Ergen, Manager by Robert J. Hooke, attorney-in-fact |