Satchi-Fainaro Ronit 4

What Happened

• Ronit Satchi‑Fainaro, a director of Teva Pharmaceutical Industries Ltd. (TEVA), converted/exercised 14,492 derivative awards on June 5, 2026. The Form 4 records an acquisition of 14,492 ordinary shares via conversion (transaction code M) and a simultaneous disposition of 14,492 shares reported at $0.00. No cash consideration or dollar value for the conversion was reported in the filing. This transaction reflects settlement of restricted share units rather than an open‑market purchase or cash sale.

Key Details

• Transaction date: 2026-06-05; Form 4 filed: 2026-06-08 (appears timely).
• Reported transactions: Acquired 14,492 shares by conversion (price N/A); Disposed 14,492 shares at $0.00.
• Shares owned after transaction: Not disclosed in the provided filing.
• Relevant footnotes:
  • F1: Ordinary shares may be represented by American Depositary Shares (1 ADS = 1 Ordinary Share).
  • F2: Each restricted share unit (RSU) represents a contingent right to 1 ordinary share or, at the committee’s option, cash.
  • F3: These RSUs were granted on 2025-06-05 and vested on 2026-06-05.
• Transaction code M indicates exercise/conversion of a derivative (here, RSUs). The filing does not indicate cash proceeds.

Context

• This was an award settlement (RSU conversion/vesting), a routine form of insider compensation — not a market purchase or a cash sale. The simultaneous disposition at $0.00 often reflects administrative settlement mechanics (e.g., net settlement or share withholding for taxes), but the Form 4 does not specify withholding details or cash flow. For retail investors, award settlements are generally less informative about an insider’s market view than outright purchases.