Posted 03 October, 2023
DISH Network CORP appointed Mr. Hamid Akhavan as new CEO
Nasdaq:DISH appointed new Chief Executive Officer Mr. Hamid Akhavan in a 8-K filed on 03 October, 2023.
As previously disclosed, in connection with DISH's entry into the Initial Merger Agreement, the DISH Board had approved the appointment of Mr. Hamid Akhavan as President and Chief Executive Officer of DISH and a member of the DISH Board, effective as of the date on which the Effective Time occurs, and the DISH Board and its Compensation Committee had approved the terms of a letter agreement between DISH and Mr. Akhavan (the "Initial Akhavan Letter Agreement") setting forth the terms of his anticipated employment with DISH.
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. As previously disclosed, in connection with DISH's entry into the Initial Merger Agreement, the DISH Board had approved the appointment of Mr. Hamid Akhavan as President and Chief Executive Officer of DISH and a member of the DISH Board, effective as of the date on which the Effective Time occurs, and the DISH Board and its Compensation Committee had approved the terms of a letter agreement between DISH and Mr. Akhavan (the "Initial Akhavan Letter Agreement") setting forth the terms of his anticipated employment with DISH. The Initial Akhavan Letter Agreement has been superseded in its entirety by the letter agreement entered into between EchoStar and Mr. Akhavan in connection with the Amended Merger Agreement, which is in substantially the same form as the Initial Akhavan Letter Agreement with appropriate adjustments to reflect the change in transaction structure contemplated by the Amended Merger Agreement. As previously disclosed, in connection with DISH's entry into the Initial Merger Agreement, the DISH Board and its Compensation Committee approved for Mr. John W. Swieringa, DISH's President, Technology and Chief Operating Officer, effective as of the Effective Time, an annual base salary and a grant of DISH stock options and DISH restricted stock units (the "Initial Swieringa Compensation Terms"). The Initial Swieringa Compensation Terms were reflected in a letter agreement between DISH and Mr. Swieringa, which has been superseded in its entirety by letter agreements entered into between Mr. Swieringa and each of DISH and EchoStar, with substantially the same compensation terms as the Initial Swieringa Compensation Terms with appropriate adjustments to reflect the change in transaction structure contemplated by the Amended Merger Agreement.
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