SEROUSSI YAIR 4
4 · Enlight Renewable Energy Ltd. · Filed May 11, 2026
Research Summary
AI-generated summary of this filing
Enlight (ENLT) Vice Chair Yair Seroussi Exercises Options, Sells 35K
What Happened
Yair Seroussi, Vice Chairman of the Board of Enlight Renewable Energy (ENLT), exercised a total of 35,000 option-derived shares on May 7–8, 2026 (code M) at an effective exercise price of $23.22 per share (total cost $812,700). All 35,000 shares were disposed the same days: 9,462 shares were surrendered/retained to cover the exercise price and tax withholding (codes F) (value ≈ $855,597), and the remaining 25,538 shares were sold in the open market (codes S) for total gross proceeds of ≈ $2,309,686. In sum, shares disposed (withheld + market sales) equal the 35,000 shares exercised.
Key Details
- Transaction dates and prices:
- May 7, 2026: exercised 30,744 shares @ $23.22 (acquired) and sold/withheld portions at $90.63.
- May 8, 2026: exercised 4,256 shares @ $23.22 (acquired) and sold/withheld portions at $89.04.
- Shares exercised: 35,000; Shares sold on-market: 25,538; Shares withheld for exercise/taxes: 9,462.
- Proceeds/values:
- Open-market sale proceeds ≈ $2,309,686.
- Value of shares surrendered for exercise/tax ≈ $855,597.
- Total value of shares disposed ≈ $3,165,283; total exercise cost ≈ $812,700.
- Notable footnotes:
- F3: Company retained shares to cover the exercise price (share-withholding, not excess).
- F1: Exercise price shown converted from NIS to USD.
- Filing timeliness: Form 4 filed May 11, 2026 for May 7–8 transactions; filing is timely under SEC two-business-day rule.
Context
This was a cashless-style outcome: options were exercised and all resulting shares were immediately used to satisfy exercise price/taxes or sold in the open market. Such transactions are common for option exercises and do not by themselves indicate an insider view on company prospects. Transaction codes: M = option exercise/conversion, F = shares surrendered for exercise price/tax withholding, S = open-market sale.
Insider Transaction Report
- Exercise/Conversion
Ordinary shares, NIS 0.1 par value per share
[F1][F2]2026-05-07$23.22/sh+30,744$713,876→ 44,977 total - Tax Payment
Ordinary shares, NIS 0.1 par value per share
[F3][F4][F2]2026-05-07$90.63/sh−8,239$746,701→ 36,738 total - Sale
Ordinary shares, NIS 0.1 par value per share
[F4][F2]2026-05-07$90.63/sh−22,505$2,039,628→ 14,233 total - Exercise/Conversion
Ordinary shares, NIS 0.1 par value per share
[F1][F2]2026-05-08$23.22/sh+4,256$98,824→ 18,489 total - Tax Payment
Ordinary shares, NIS 0.1 par value per share
[F3][F5][F2]2026-05-08$89.04/sh−1,223$108,896→ 17,266 total - Sale
Ordinary shares, NIS 0.1 par value per share
[F5][F2]2026-05-08$89.04/sh−3,033$270,058→ 14,233 total - Exercise/Conversion
Stock Options (right to buy)
[F1][F6]2026-05-07−30,744→ 40,256 totalExercise: $23.22Exp: 2028-09-30→ Ordinary shares, NIS 0.1 par value per share (30,744 underlying) - Exercise/Conversion
Stock Options (right to buy)
[F1][F6]2026-05-08−4,256→ 36,000 totalExercise: $23.22Exp: 2028-09-30→ Ordinary shares, NIS 0.1 par value per share (4,256 underlying)
- 51,574
Stock Options (right to buy)
[F7][F8][F9]Exercise: $27.33Exp: 2032-10-01→ Ordinary shares, NIS 0.1 par value per share (51,574 underlying) - 11,339
Stock Options (right to buy)
[F10][F9]→ Ordinary shares, NIS 0.1 par value per share (11,339 underlying)
Footnotes (10)
- [F1]Represents an exercise price of NIS 71.89, converted to U.S. dollars using the Bank of Israel representative exchange rate of $1.00 to NIS 3.096 as of March 18, 2026.
- [F10]Performance-based RSUs ("PSUs") were granted on October 1, 2025 and vest in four annual tranches: 2,834 on October 1, 2026, and 2,835 on each of October 1, 2027, 2028, and 2029, subject to continued service as an office holder and achievement of performance metrics for the preceding calendar year. The metrics, Total Income and Revenues, and Adjusted EBITDA (each as reported in the Company's Annual Report on Form 20-F), are measured against the midpoint of the Company's forecast published at the start of the applicable performance year. Achievement of 90% of the target yields 50% vesting for that metric's portion of the tranche, with linear interpolation for achievement between 90% and 100%. Metrics are weighted equally and evaluated independently; overperformance in one cannot offset the other. Each PSU represents a contingent right to receive one ordinary share of the Company upon vesting.
- [F2]Includes 7,117 restricted share units granted on April 17, 2024, with 3,558 vesting on and April 17, 2027 and 3,559 vesting on April 17, 2028. Each restricted share unit represents a contingent right to receive one ordinary share of the Company.
- [F3]These shares were retained by the Company in payment of the exercise price of the employee stock options exercised by the Reporting Person. The amount retained by the Company was not in excess of the amount of the exercise price.
- [F4]Represents a transaction price of NIS 263.11, converted to U.S. dollars using the Bank of Israel representative exchange rate of $1.00 to NIS 2.903 as of the date immediately preceding the date of the transaction.
- [F5]Represents a transaction price of NIS 258.85, converted to U.S. dollars using the Bank of Israel representative exchange rate of $1.00 to NIS 2.907 as of the date immediately preceding the date of the transaction.
- [F6]Stock options were granted on September 30, 2021, with 8,875 having vested on each of December 30, 2023, March 30, 2024, June 30, 2024, September 30, 2024, December 30, 2024, March 30, 2025, June 30, 2025, and September 30, 2025.
- [F7]Represents an exercise price of NIS 84.60, converted to U.S. dollars using the Bank of Israel representative exchange rate of $1.00 to NIS 3.096 as of March 18, 2026.
- [F8]Stock options were granted on October 1, 2025, with 12,893 vesting on each of October 1, 2026, and October 1, 2028, and 12,894 vesting on each of October 1, 2027, and October 1, 2029.
- [F9]No transaction has been effected by the Reporting Person with respect to these securities, and they are being included in this Form 4 for informational purposes only.