Sandler Yael 4
4 · CYABRA, INC. · Filed Mar 31, 2026
Research Summary
AI-generated summary of this filing
Cybra (CYAB) CFO Yael Sandler Receives Option Award
What Happened Yael Sandler, Chief Financial Officer of Cybra, Inc. (CYAB), was granted 101,071 derivative shares on March 27, 2026. The filing lists these as an award/grant of derivative securities (replacement options); no per-share price or immediate cash value is disclosed. This is an equity award (compensation/retention), not an open-market purchase or sale.
Key Details
- Transaction date: March 27, 2026. Filing date: March 31, 2026 (filed on time under Form 4 rules).
- Amount: 101,071 derivative shares reported as a grant/award. Price/consideration: N/A (derivative instrument).
- Shares owned after transaction: Not specified in the provided excerpt.
- Footnote highlights:
- These are "Replacement Options" under the Cyabra Inc. 2026 Omnibus Equity Incentive Plan with a vesting schedule that began July 2, 2024: 25% vests after 12 months, then equal quarterly vesting (1/12 of remaining) thereafter, fully vested by the schedule set in the footnote.
- The award was issued in connection with Cybra’s business combination with Trailblazer Merger Corporation I.
- Prior Cyabra options (aggregate 28,000 ordinary shares) were converted into these Replacement Options on the same terms as the originals.
- No indication this was an exercise or immediate sale; it's a grant of derivative securities (options).
Context
- These are equity awards (options/replacement options). They do not represent immediate stock purchases or sales and will only affect share ownership if/when vested and exercised.
- Because the award stems from the company’s merger and option-replacement mechanics, it’s largely a compensation/continuity item rather than a signal of an insider buying or selling stock.
Insider Transaction Report
Form 4
CYABRA, INC.CYAB
Sandler Yael
Chief Financial Officer
Transactions
- Award
Stock Option (Right to Buy)
[F2][F3][F1]2026-03-27+101,071→ 101,071 totalExercise: $0.16Exp: 2035-01-08→ Common Stock (101,071 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 four (4) years starting on July 2, 2024 (the "Vesting Commencement Date") as follows: (i) 25% vested upon the lapse of 12 months from the Vesting Commencement Date; and (ii) 1/12 of the remaining unvested options 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 28,000 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|2026-03-31