Elbit Systems (ESLT) EVP Delmar Exercises Options, Sells Shares

What Happened

• Delmar Haim Daniel, Executive Vice President of Elbit Systems Ltd. (ESLT), exercised 9,000 stock options on 2026-04-09 and immediately settled the result: 1,346 shares were retained by the company to cover the exercise price/tax obligation (valued at $1,209,341) and 7,654 shares were sold in the open market for $887.40 each, generating $6,792,160. The exercise created 9,000 shares (recorded as an acquisition) and the underlying option instrument was converted/cancelled (recorded as a derivative disposition).

Key Details

• Transaction date: April 9, 2026; Form 4 filed April 10, 2026 (timely).
• Option exercise: 9,000 shares acquired at $134.34 per share (total $1,209,060).
• Tax/price withholding: 1,346 shares retained by the company valued at $898.47 each (total $1,209,341) to cover exercise price/taxes.
• Open-market sale: 7,654 shares sold at $887.40 each (total $6,792,160).
• Shares owned after the transaction: not specified in the provided filing.
• Notable footnotes: options and resulting shares were held in trust with Mr. Delmar as sole beneficiary (F1); shares retained by the company were used to pay the exercise price and were not in excess of that amount (F2); exercise price/taxes were paid in New Israeli Shekels and converted using NIS 3.142 = $1.00 for reporting (F3); the options vested in four tranches through April 7, 2026 (F4).

Context

• This was an option exercise with an immediate partial sale (a cashless-style settlement): the company withheld shares to cover the exercise/tax amount and the remainder was sold on the open market. Such transactions commonly convert option value to cash for the insider and do not by themselves signal the insider’s view of the company beyond the mechanical result of exercising vested options.