Ariel Jonathan 4
4 · ELBIT SYSTEMS LTD · Filed Apr 10, 2026
Research Summary
AI-generated summary of this filing
Elbit Systems (ESLT) EVP Ariel Jonathan Exercises Options, Sells Shares
What Happened
Ariel Jonathan, Executive Vice President of Elbit Systems Ltd. (ESLT), exercised 9,000 employee stock options on April 9, 2026 and immediately disposed of most of the resulting shares. He acquired 9,000 shares by exercising options at $134.34 per share (total exercise cost $1,209,060). Rather than pay cash, the company retained 1,346 shares (valued at $898.47 each) to cover the exercise price and related tax withholding (reported value $1,209,341). The remaining 7,654 shares were sold in the open market at $887.40 per share, generating proceeds of approximately $6,792,160.
Key Details
- Transaction date: April 9, 2026 (filed April 10, 2026). Filing appears timely.
- Option exercise: 9,000 shares exercised at $134.34/shr — total reported exercise cost $1,209,060.
- Withholding/tax payment: 1,346 shares retained by the company at $898.47/shr (value $1,209,341) to cover exercise/taxes. (Footnote: retention not in excess of amount due.)
- Open-market sale: 7,654 shares sold at $887.40/shr — proceeds ~$6,792,160.
- Shares owned after transaction: not provided in the supplied data.
- Notable footnotes: options and resulting shares were held in trust with Mr. Ariel as sole beneficiary (F1); currency conversion used NIS 3.142 = $1 (F3); options vested in four tranches ending April 7, 2026 (F4).
Context
This was effectively a cashless exercise: options were exercised and the company withheld a portion of the shares to satisfy the exercise price/tax obligations, while the remainder was sold in the open market. Such transactions are common for employees monetizing vested option tranches and do not, by themselves, indicate new bullish or bearish insider convictions.
Insider Transaction Report
- Exercise/Conversion
Ordinary shares, par value 1.00 NIS per share
[F1]2026-04-09$134.34/sh+9,000$1,209,060→ 9,000 total(indirect: By Trust) - Tax Payment
Ordinary shares, par value 1.00 NIS per share
[F2][F3][F1]2026-04-09$898.47/sh−1,346$1,209,341→ 7,654 total(indirect: By Trust) - Sale
Ordinary shares, par value 1.00 NIS per share
[F3][F1]2026-04-09$887.40/sh−7,654$6,792,160→ 0 total(indirect: By Trust) - Exercise/Conversion
Employee Stock Option (right to buy)
[F4][F1]2026-04-09−9,000→ 0 total(indirect: By Trust)Exercise: $134.34Exp: 2027-07-07→ Ordinary Shares (9,000 underlying)
Footnotes (4)
- [F1]Mr. Ariel's options and the shares resulting from any exercise of those options were held in trust in accordance with the terms of his award agreement and the plan under which they were granted. Mr. Ariel was the sole beneficiary of the options.
- [F2]These shares were retained by the Company in payment of the exercise price of the employee stock options exercised by Mr. Ariel. The amount retained by the Company was not in excess of the amount of the exercise price.
- [F3]The price was paid in New Israeli Shekel. For purposes of this Form 4, a conversion rate of NIS 3.142 for each USD $1.00 was used, which was the closing foreign exchange rate on the date immediately preceding the date of the transaction.
- [F4]These options vested and became exercisable in four tranches: 40% on April 7, 2023, 20% on April 7, 2024, 20% on April 7, 2025 and 20% on April 7, 2026.