Sabag Oren Yaacov 4

What Happened

• Oren Sabag, Executive Vice President of Elbit Systems Ltd. (ESLT), exercised 10,000 stock options on April 9, 2026. The exercise resulted in acquisition of 10,000 shares (derivatives converted).
• To cover exercise cost and related tax withholding, 1,496 of the resulting shares were surrendered/retained by the company (reported as a disposition) valued at $898.47 per share (total $1,344,111).
• The remaining 8,504 shares were sold in an open-market transaction at $887.40 per share for gross proceeds of $7,546,450. The exercise consideration recorded was $1,343,400 (10,000 shares at $134.34).

Key Details

• Transaction date: April 9, 2026; filing date: April 10, 2026 (filed next day).
• Exercise: 10,000 options exercised (M); company record shows conversion of the derivative to shares.
• Withholding/tax payment: 1,496 shares retained by company as payment of exercise price/taxes (F2).
• Open-market sale: 8,504 shares sold at $887.40/share for $7,546,450 (S).
• Currency note: transaction amounts were paid in New Israeli Shekel; a conversion rate of NIS 3.142 = $1.00 was used for USD reporting (F3).
• Vesting: the options vested in four tranches (40% 4/7/2023; 20% 4/7/2024; 20% 4/7/2025; 20% 4/7/2026) (F4).
• Shares owned after the transactions: not provided in the excerpt of the filing.

Context

• This was a routine option exercise followed by a cashless-type settlement: shares were withheld by the company to cover the exercise/tax obligations and the remainder was sold in the open market. Such transactions are commonly used to cover exercise costs and taxes and do not, by themselves, indicate a change in the insider’s long-term view.