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

What Happened

• Dovev Gad (reported as a former director) reported option exercises and an open-market sale on 2026-09-22. He exercised 589 shares at an exercise price of $5.89 (cost reported $3,469) and an additional 100 shares with a reported $0.00 exercise price (no cash reported). Separately, he sold 852 shares in the open market at $8.52 per share, generating $7,259 in proceeds.
• The filing shows both acquisitions (option exercises) and a disposition (open-market sale) on the same date. Exercises are acquisitions of underlying shares; the sale is a separate disposal.

Key Details

• Transaction date: 2026-09-22 (filed 2026-09-23 — filing appears timely).
• Exercises: 589 shares @ $5.89 (total reported cost $3,469); 100 shares @ $0.00 (no cash reported).
• Sale: 852 shares @ $8.52, proceeds $7,259.
• Shares owned after the transactions: not disclosed in the filing excerpt provided.
• Footnote: the option grant (dated Sept 6, 2021) vests over four years — 25% after one year, then 6.25% each subsequent quarter.
• Transaction codes: M = option exercise/conversion; S = sale (open market/private sale).

Context

• For retail investors: exercises show the insider converted options into shares; the separate same-day sale may be routine liquidity or other personal reasons, but the filing does not explain the relation between the exercises and the sale.
• The 100-share exercise listed at $0.00 indicates no cash was reported for that portion in the filing; the document does not state if those shares were withheld, cancelled, or treated for tax purposes.