Ariel Jonathan 4

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.