Sheeran Josette 4
4 · CYABRA, INC. · Filed Mar 31, 2026
Research Summary
AI-generated summary of this filing
Cyabra (CYAB) Director Josette Sheeran Receives 144,387-Option Award
What Happened
- Josette Sheeran, a director of Cyabra, Inc. (CYAB), received a grant reported as an award/acquisition of 144,387 derivative securities on 2026-03-27. The filing shows no exercise price or immediate cash value (price reported as N/A), indicating these are option-type replacement awards rather than an open-market purchase or sale.
Key Details
- Transaction date: 2026-03-27; Form 4 filed: 2026-03-31 (filed on time).
- Amount: 144,387 derivative shares (Replacement Options); price/value: N/A in filing.
- Shares owned after transaction: not specified in the Form 4.
- Footnotes:
- F1: These Replacement Options vest over three years starting December 14, 2024 — 16.7% vested after 6 months, then 1/12 of the options vest each subsequent quarter, fully vested by the third anniversary of the Vesting Commencement Date.
- F2/F3: The awards were issued as Replacement Options in connection with the issuer’s business combination with Trailblazer Merger Corporation I; pre‑combination Cyabra options (for an aggregate of 40,000 ordinary shares) were cancelled and replaced on substantially the same terms.
Context
- These are derivative option awards (not exercises or stock sales), so no immediate proceeds or open‑market buying/selling occurred. Option grants to directors are common and typically structured to vest over time to align incentives; they do not by themselves signal a near‑term change in holdings unless subsequently exercised or sold.
Insider Transaction Report
Form 4
CYABRA, INC.CYAB
Sheeran Josette
Director
Transactions
- Award
Stock Option (Right to Buy)
[F2][F3][F1]2026-03-27+144,387→ 144,387 totalExercise: $7.53Exp: 2035-01-08→ Common Stock (144,387 underlying)
Footnotes (3)
- [F1]Pursuant to the terms of the Replacement Options (as defined below), the options have vested in part and shall vest over a period of three (3) years starting on December 14, 2024 (the Vesting Commencement Date) as follows: (i) 16.7% vested upon the lapse of 6 months from the Vesting Commencement Date; and (ii) 1/12 of the options have vested and shall vest on equal portions upon the lapse of each subsequent quarter thereafter, so that all options shall be fully vested by the third anniversary of the Vesting Commencement Date, pursuant to the Cyabra, Inc. 2026 Omnibus Equity Incentive Plan.
- [F2]Received in connection with the Issuer's business combination with Trailblazer Merger Corporation I ("Trailblazer"), in accordance with the terms of the Merger Agreement, dated July 22, 2024, as amended (the "Merger Agreement"), by and among Trailblazer, Trailblazer Merger Sub, Ltd. ("Merger Sub"), Trailblazer Holdings, Inc. ("Holdings"), and Cyabra Strategy Ltd. ("Cyabra"), pursuant to which (a) Trailblazer merged with and into Holdings, with Holdings as the surviving entity of the merger (the "Parent Merger"), and (b) Merger Sub merged with and into Cyabra, with Cyabra as the surviving entity of the merger (together with the Parent Merger and all other transactions contemplated by the Merger Agreement, the "Business Combination"), following which Merger Sub ceased to exist and Cyabra became a wholly owned subsidiary of Holdings. After giving effect to the Business Combination, Holdings changed its name to the Issuer.
- [F3]Pursuant to the Merger Agreement, each option to purchase ordinary shares of Cyabra held by the Reporting Person that was outstanding immediately prior to the effective time of the Business Combination (the "Effective Time") for an aggregate of 40,000 ordinary shares was, as of the Effective Time, cancelled in consideration for the issuance of an option to purchase shares of the Issuer reported herein (the "Replacement Options"), subject to the same terms and conditions as were applicable to the corresponding Cyabra option immediately prior to the Effective Time.
Signature
/s/ Yael Sandler, Attorney-in-Fact|2026-03-31