Kril Ran 4

What Happened
Ran Kril, Executive Vice President of Elbit Systems Ltd. (ESLT), exercised 8,000 stock options on April 9, 2026 and then sold most of the resulting shares. The filings show: an exercise (code M) of 8,000 options acquiring 8,000 shares at $134.34 each (total $1,074,720); 1,197 shares were delivered/retained to cover the exercise price/tax withholding (code F) valued at $1,075,469; and 6,803 shares were sold in an open-market transaction (code S) at $887.40 each for proceeds of $6,036,982. The filing also records the derivative (the options) as converted/removed (code M, reported at $0), consistent with option exercise.

Key Details

• Transaction date: April 9, 2026 (Form filed Apr 10, 2026 — timely).
• Exercise: 8,000 options exercised @ $134.34 = $1,074,720 (USD amounts reflect NIS→USD conversion per footnote).
• Tax/Exercise payment: 1,197 shares retained/disposed @ $898.47 = $1,075,469 (share-for-tax withholding).
• Open-market sale: 6,803 shares sold @ $887.40 = $6,036,982.
• Shares owned after transaction: not disclosed in the excerpt of the filing provided.
• Relevant footnotes: options and resulting shares were held in trust with Mr. Kril as sole beneficiary (F1); shares were retained by the company to cover exercise price/taxes (F2); USD amounts derived using NIS 3.142 = $1.00 conversion rate (F3); options vested in four tranches with final 20% vesting on Apr 7, 2026 (F4).

Context
This was essentially an option exercise followed by a cashless outcome: shares were used to satisfy the exercise/tax obligation and the remainder were sold on the open market. Such transactions are common for employees realizing vested option awards and do not, by themselves, indicate a change in company outlook. The filing appears timely (reported the day after the transactions).