DarioHealth (DRIO) CEO Raphael Erez Receives 297,000-Share Award

What Happened

• Raphael Erez, CEO of DarioHealth (DRIO), received a restricted share award of 297,000 shares (reported as acquired at $0) on 2026-09-24. The award vests in eight equal quarterly installments over two years.
• Separately, on 2024-08-12 Erez was involved in a conversion of Series B preferred securities: the filing reports acquisition of 579 common shares at an imputed price of $19.10 (total $11,059) and a related disposition of 30 preferred-share units at $1,000 each (total $30,000). Footnotes explain the 30 preferred shares converted into 11,574 common shares, which after a subsequent reverse split are reported as 579 common shares. Immediately after that conversion he beneficially owned 157,432 common shares.

Key Details

• Transaction dates & prices:
  • 2024-08-12: Conversion of derivative security — acquired 579 common shares @ $19.10 ($11,059); disposed 30 preferred units @ $1,000 ($30,000) (derivative conversion).
  • 2026-09-24: Grant/award — acquired 297,000 restricted shares @ $0 (reported value $0).
• Shares owned after conversion: Reporting person beneficially owned 157,432 common shares immediately following the Aug 12, 2024 conversion (per footnote).
• Vesting: The 297,000 restricted-share award vests in eight equal quarterly installments over two years (per footnote).
• Derivative explanation: The Aug 2024 entries reflect an automatic conversion of Series B preferred stock into common stock (not an open-market buy or sale). A non-waivable 19.99% ownership blocker applied to the conversion per the preferred terms.
• Filing timeliness: The Form 4 was filed on 2026-09-28 and reports transactions from 2024-08-12 and 2026-09-24 — this filing was late relative to the earlier transaction dates.

Context

• The 297,000-share entry is an equity award, not an open-market purchase; such awards are compensation-related and vest over time, so they do not necessarily signal immediate insider buying or selling.
• The August 2024 activity is a corporate-structure conversion (preferred → common). Conversions and award grants are routine corporate events and should be interpreted differently than purchases or sales in the market.