Stockholders' Equity (Deficit)

12 Months Ended

Dec. 31, 2016

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit)

11.Stockholders’ Equity (Deficit)

Capital Stock and Additional Paid-In Capital

Our certificate of incorporation authorizes the following capital stock: (i) 1,600,000,000 shares of Class A common stock, par value $0.01 per share; (ii) 800,000,000 shares of Class B common stock, par value $0.01 per share; (iii) 800,000,000 shares of Class C common stock, par value $0.01 per share; and (iv) 20,000,000 shares of preferred stock, par value $0.01 per share.  As of December 31, 2016 and 2015, there were no outstanding shares of Class C common stock or preferred stock.

The Class A, Class B and Class C common stock are equivalent except for voting rights.  Holders of Class A and Class C common stock are entitled to one vote per share and holders of Class B common stock are entitled to 10 votes per share.  Each share of Class B and Class C common stock is convertible, at the option of the holder, into one share of Class A common stock.  Our Class A common stock is publicly traded on the NASDAQ Global Select Market under the symbol “DISH.”  Upon a change in control of DISH Network, each holder of outstanding shares of Class C common stock is entitled to 10 votes for each share of Class C common stock held.  Our principal stockholder owns the majority of all outstanding Class B common stock.  Together with all other stockholders, he also owns outstanding Class A common stock.

Common Stock Repurchase Program

Our Board of Directors previously authorized the repurchase of up to $1.0 billion of our outstanding Class A common stock.  On November 2, 2016, our Board of Directors extended this authorization such that we are currently authorized to repurchase up to $1.0 billion of outstanding shares of our Class A common stock through and including December 31, 2017.  As of December 31, 2016, we may repurchase up to $1.0 billion under this program.  During the years ended December 31, 2016, 2015 and 2014, there were no repurchases of our Class A common stock.

Treasury Stock

As of December 31, 2015, we held 56,118,260 shares of treasury stock.  We account for our treasury stock using the cost method and all treasury share repurchases are reflected on our Consolidated Balance Sheets as a component of “Treasury stock, at cost.”    On February 11, 2016, our Board of Directors approved the retirement of our treasury stock.  During the first quarter 2016, we retired all 56,118,260 shares of our treasury stock.