ELTEK (ELTK) Former Director Dovev Gad Exercises Options and Sells Shares

What Happened

• Dovev Gad, listed as a former director, exercised stock options and sold shares on September 17, 2026. He exercised options to acquire 2,945 shares at $5.89 each (cost $17,346) and reported an additional exercise/disposition of 500 shares (reported at $0). Separately, he sold 4,260 shares in an open-market transaction at $8.52 each, receiving $36,295. The filing was submitted on September 22, 2026.

Key Details

• Dates: all transactions reported for 2026-09-17; Form 4 filed 2026-09-22 (5 days after the transactions).
• Exercise: 2,945 shares exercised at $5.89 — total consideration $17,346.
• Derivative disposal: 500 shares reported as disposed at $0 (derivative line item).
• Sale: 4,260 shares sold in the open market at $8.52 — proceeds $36,295.
• Shares owned after transaction: not disclosed in the provided filing.
• Footnote: options were granted Sept 6, 2021, and vest over four years (25% after one year, then 6.25% each quarter).
• Timeliness: filing appears late (insiders normally must file Form 4 within two business days of the transaction).

Context

• This filing shows an option exercise combined with an open-market sale. The 500-share derivative disposal (reported at $0) and the fact that shares sold exceed the exercised shares suggest some combination of exercised shares, previously owned shares, or shares surrendered for obligations, but the filing itself does not explain the exact settlement mechanics.
• Purchases signal potential insider confidence; sales are often routine (liquidity or tax-related). This report is factual—no motive is stated.