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Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Market Information
Our Class A common stock is quoted on the Nasdaq Global Select Market under the symbol “SATS.” As of February 25, 2026, there were approximately 8,093 holders of record of our Class A common stock, not including stockholders who beneficially own Class A common stock held in nominee or street name. As of February 25, 2026, all of the 131,348,468 outstanding shares of our Class B common stock were beneficially held by Charles W. Ergen, our Chairman, and by certain entities established by Mr. Ergen for the benefit of his family. There is currently no trading market for our Class B common stock.
Dividends
We have not paid any cash dividends on our common stock in the past two years. We currently do not intend to declare dividends on our common stock. Payment of any future dividends will depend upon our earnings, capital requirements, contractual restrictions and other factors the Board of Directors considers appropriate. Our ability to declare dividends is affected by the covenants in our and our subsidiaries’ indentures. See Note 10 in the Notes to our Consolidated Financial Statements in this Annual Report on Form 10-K for further information.
Securities Authorized for Issuance Under Equity Compensation Plans
See “Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters” in this Annual Report on Form 10-K.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
Stock Repurchase Program
The following table provides information regarding purchases of our Class A common stock made by us for the period from October 1, 2025 through December 31, 2025.
| | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|
| | | | | | | | Total Number of | | Maximum Approximate | |
| | | Total | | | | | Shares Purchased | | Dollar Value of Shares | |
| | | Number of | | Average | | as Part of Publicly | | that May Yet be | ||
| | | Shares | | Price Paid | | Announced | | Purchased Under the | ||
| Period | | Purchased | | per Share | | Programs | | Programs (1) | ||
| | | (In thousands, except share data) | ||||||||
| October 1, 2025 - October 31, 2025 | | — | | $ | — | | — | | $ | 1,000,000 |
| November 1, 2025 - November 30, 2025 | | 1,789,020 | | $ | 27.12 | | 1,789,020 | | $ | 951,488 |
| December 1, 2025 - December 31, 2025 | | — | | $ | — | | — | | $ | 951,488 |
| Total | | 1,789,020 | | $ | 27.12 | | 1,789,020 | | $ | 951,488 |
| (1) | Our Board of Directors previously authorized stock repurchases of up to $1.0 billion of our outstanding Class A common stock through and including December 31, 2026. On February 26, 2026, our Board of Directors extended the plan such that we are currently authorized to repurchase up to $2.0 billion of our outstanding shares of our Class A common stock through and including December 31, 2026. Purchases under our repurchase program may be made through open market purchases, privately negotiated transactions, or Rule 10b5-1 trading plans, subject to market conditions and other factors. We may elect not to purchase the maximum amount of shares allowable under this program and we may also enter into additional share repurchase programs authorized by our Board of Directors. |
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