EchoStar’s DeFranco buys extra 2.4% of business
March 19, 2024
By Chris Forrester
James DeFranco, a co-founder with Charlie Ergen of the EchoStar/Dish satellite businesses, has paid $1.48 million buying shares in the company, and representing about 2.4 per cent of the share issue.
DeFranco is a director of EchoStar, which now owns Dish Network. He paid an average of $13.48 per share.
DeFranco bought 110,000 shares on March 8th. However, the previous day he bought 90,000 shares (at between $13.14-$13.44 per share) at a cost of $1.196 million.
He has been a steady buyer of EchoStar stock including numerous purchases last year (300,000 in June 2023, and 3 million in May 2023) and other purchases in March 2023 (800,000 and 1.45 million).
It takes the number of shares in the free float owned by company insiders (including Charlie Ergen and Candy his wife) to 10.77 per cent.