RedHill Biopharma: COO Raday Gilead exercised 27,560,000, sold 14,310,000 shares

What happened

• Raday Gilead, chief operating officer, exercised or converted derivative rights for 27,560,000 ordinary shares (reported as code M) and a separate sale disposed of 14,310,000 ordinary shares (reported as code S) on Oct 1, 2026. The filing lists sale proceeds of $1,431. The exercise/conversion was reported at $0.00 per share.

Key details

• Transaction date: Oct 1, 2026. Sale price reported in footnote as $0.465 per ADS, equivalent to $0.0000465 per ordinary share; proceeds $1,431.
• Exercise: 27,560,000 shares acquired by exercise/conversion at $0.00. Sale: 14,310,000 shares disposed.
• Shares owned after the transaction: not provided in the filing excerpt.
• Footnotes: (F1) the sale was of 1,431 ADS (each ADS = 10,000 ordinary shares) effected by a trustee under a sell-to-cover policy to satisfy tax withholding for vesting of 4,187 RSUs and was not a discretionary trade by the reporting person; (F2) clarifies the ADS and per-ADS price; (F3) each ADS is convertible at holder election for no consideration and has no expiration date.
• Filing date: Oct 6, 2026. The filing does not indicate a late reporting designation.

Why it may matter

• The filing shows a derivative exercise that resulted in new shares (27,560,000) and a sell-to-cover sale (14,310,000) to satisfy tax withholding rather than a voluntary open-market sale by the insider.
• The filing does not show why the insider traded or why the company acted.