Mitrany Rayten Michal Ety 4

4 · Brainsway Ltd. · Filed May 21, 2026

AI-generated summary of this filing

Updated May 21, 2026

Brainsway (BWAY) Director Mitrany Rayten Exercises Options

What Happened

Mitrany Rayten (Director) exercised a total of 27,500 stock options in two transactions: 10,000 on May 19, 2026 and 17,500 on May 20, 2026 (Form 4 codes M for exercise). The exercise price is NIS 15.26 per share (Footnote F2).
To cover the exercise price and tax withholding (Form 4 code F), the company retained (withheld) 3,440 shares on May 19 and 6,080 shares on May 20 (total 9,520 shares). Net shares delivered to the reporting person were 27,500 − 9,520 = 17,980 shares. The filings also show the derivative positions were terminated on exercise (reported at $0.00 as derivative disposition).

Key Details

Dates: Exercises on 2026-05-19 and 2026-05-20; Form 4 filed 2026-05-21 (appears timely).
Exercise price: NIS 15.26 per share (F2). Company withheld shares at valuations of NIS 44.36 and NIS 43.92 per share for the withholding transactions (F4, F5).
Shares owned after the transactions: not explicitly stated in the filing. Footnote F3 notes the ownership figure reported includes 6,250 unvested RSUs that vest quarterly through March 5, 2028.
Option grant/vesting: options were granted Jan 13, 2020 and were fully vested by Nov 28, 2023 (F6).
ADS note: ordinary shares may be represented by American Depositary Shares (one ADS = one ordinary share) (F1).
Transaction codes: M = option exercise; F = payment of exercise price/tax via share withholding (cashless).

Context

This was an exercise of already-vested employee stock options, not an open-market purchase or market sale. The company’s withholding of shares to cover the exercise price/taxes is a common cashless exercise method and does not necessarily signal a buy/sell opinion by the insider.
For retail investors: exercises show insider monetization of vested options; purchases (buys) generally carry more informational weight than routine option exercises with withholding.

Form 4

Period: 2026-05-19

Director

Transactions

Exercise/Conversion
Ordinary Shares
[F1][F2][F3]
2026-05-19+10,000→ 22,500 total
Tax Payment
Ordinary Shares
[F1][F4][F3]
2026-05-19−3,440→ 19,060 total
Exercise/Conversion
Ordinary Shares
[F1][F2][F3]
2026-05-20+17,500→ 36,560 total
Tax Payment
Ordinary Shares
[F1][F5][F3]
2026-05-20−6,080→ 30,480 total
Exercise/Conversion
Stock Options (right to buy)
[F2][F6][F1]
2026-05-19−10,000→ 17,500 total
Exp: 2028-01-13→ Ordinary Shares (10,000 underlying)
Exercise/Conversion
Stock Options (right to buy)
[F2][F6][F1]
2026-05-20−17,500→ 0 total
Exp: 2028-01-13→ Ordinary Shares (17,500 underlying)

Footnotes (6)

[F1]The Ordinary Shares may be represented by American Depositary Shares, each of which currently represents one Ordinary Share.
[F2]The exercise price is NIS 15.26 per share.
[F3]This figure includes ordinary shares and unvested restricted stock units ("RSUs") to receive 6,250 ordinary shares that vest quarterly until March 5, 2028, with each RSU representing a contingent right to receive one ordinary share.
[F4]These shares were retained by the Company at a price of NIS 44.36 per share in payment of the exercise price of the employee stock options exercised by the Reporting Person.
[F5]These shares were retained by the Company at a price of NIS 43.92 per share in payment of the exercise price of the employee stock options exercised by the Reporting Person.
[F6]Stock options were granted on January 13, 2020, and were fully vested by November 28, 2023.

Signature

/s/ Ety Mitrany|2026-05-21

1 file