Raday Gilead 4

What Happened
Raday Gilead, Chief Operating Officer of RedHill Biopharma Ltd. (RDHL), converted/exercised a derivative to acquire 28,150,000 ordinary shares (2,815 ADS) and simultaneously had 14,130,000 ordinary shares (1,413 ADS) sold to cover tax withholding. The Form 4 lists proceeds of $1,413 for the disposed shares; a footnote reports a per-ADS price of $0.6973 (equivalent to $0.00006973 per ordinary share), which implies roughly $985 based on the footnote price. The sale was executed by a trustee under a sell-to-cover arrangement and was not a discretionary open-market sale by the reporting person.

Key Details

• Transaction date: July 10, 2026; Form 4 filed July 13, 2026 (check timeliness — filing was three calendar days after the transaction).
• Acquired: 28,150,000 ordinary shares via exercise/conversion of a derivative (transaction code M) at $0.00 (no cash paid).
• Disposed: 14,130,000 ordinary shares (1,413 ADS) via sale (transaction code S) to satisfy tax withholding; filing lists proceeds $1,413. Footnote F2 reports $0.6973 per ADS (equiv. $0.00006973 per ordinary share).
• Shares owned after the transactions: not reported in this Form 4.
• Footnotes: F1 states the sale was effected by the trustee under an Israeli sell-to-cover policy to satisfy tax withholding on RSU vestings and was not a discretionary trade; F3 notes each ADS is convertible at holder’s election for no consideration and has no expiration date.

Context

• This filing shows a derivative conversion/vesting event with a routine sell-to-cover to meet tax obligations — a common administrative transaction that does not necessarily signal a change in insider sentiment.
• For retail investors, purchases or discretionary open-market buys are generally more informative than trustee sell-to-cover transactions.