Heymann Emmanuel 4
4 · CYABRA, INC. · Filed Mar 31, 2026
Research Summary
AI-generated summary of this filing
Cyabra (CYAB) CRO Emmanuel Heymann Receives Equity Awards
What Happened
Emmanuel Heymann, Cyabra’s Chief Revenue Officer, was granted two derivative equity awards (transaction code A) on 2026-03-27: 25,264 shares and 28,883 shares, for a total of 54,147 underlying shares. No purchase price is reported (N/A) because these are replacement option/award grants rather than open-market trades. The Form 4 covering the 3/27/2026 transaction was filed on 2026-03-31 (timely).
Key Details
- Transaction date: 2026-03-27; Form 4 filed: 2026-03-31 (timely).
- Shares awarded: 25,264 and 28,883 (total 54,147). Price: N/A (derivative awards/options).
- Shares owned after transaction: not specified in the reported details.
- Origin: Awards were issued as replacement options under the Cyabra, Inc. 2026 Omnibus Incentive Plan in connection with the company's business combination with Trailblazer Merger Corporation I (see footnotes).
- Vesting notes: One award ties to a “January 2023 Replacement Option” and the other to a “January 2025 Replacement Option.” Both follow similar vesting schedules — 3 years and 10 months total, with 25% vesting after 10 months from the applicable vesting commencement date and the remaining 75% vesting in equal monthly installments through month 36.
- Filing type/code: A = Award/Grant (derivative). No indication of a sale, cashless exercise, or tax-withholding sale in this filing.
Context
These are compensation/option awards converted from pre-merger Cyabra options per the merger agreement (they do not represent an open-market purchase or sale). Because they are derivative awards with scheduled vesting, they represent potential future share ownership as vesting occurs — not an immediate insider purchase or sale. Retail investors should note such awards signal managerial compensation and alignment but are less informative about insider sentiment than actual open-market purchases or sales.
Insider Transaction Report
Form 4
CYABRA, INC.CYAB
Heymann Emmanuel
Chief Revenue Officer
Transactions
- Award
Stock Option(Right to Buy)
[F2][F3][F1]2026-03-27+25,264→ 25,264 totalExercise: $1.00Exp: 2033-02-19→ Common Stock (25,264 underlying) - Award
Stock Option(Right to Buy)
[F2][F5][F4]2026-03-27+28,883→ 28,883 totalExercise: $7.53Exp: 2033-02-19→ Common Stock (28,883 underlying)
Footnotes (5)
- [F1]Pursuant to the terms of the January 2023 Replacement Option (as defined below), the January 2023 Replacement Option has vested in part and shall vest over a period of three (3) years and ten (10) months as follows: The January 2023 Replacement Option vest over a period of three (3) years and ten (10) months as follows: Twenty-five percent (25%) vested upon the lapse of 10 months from January 1, 2023 (the "2023 Vesting Commencement Date") and the remaining 75% of the shares subject to the January 2023 Replacement Option has vested and shall vest on equal portions upon the lapse of the last day of each subsequent month thereafter, so that the January 2023 Replacement Option shall be fully vested by the thirty-sixth (36) month from the 2023 Vesting Commencement Date.
- [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, options to purchase an aggregate of 7,000 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") were, as of the Effective Time, cancelled in consideration for the issuance of an option to purchase shares of the Issuer reported herein under the Cyabra, Inc. 2026 Omnibus Incentive Plan (the "2026 Plan"), subject to the same terms and conditions as were applicable to the corresponding Cyabra option immediately prior to the Effective Time (the "January 2023 Replacement Option").
- [F4]Pursuant to the terms of the January 2025 Replacement Option (as defined below), the January 2025 Replacement Option has vested in part and shall vest over a period of three (3) years and ten (10) months as follows: The January 2025 Replacement Option shall vest over a period of three (3) years and ten (10) months as follows: Twenty-five percent (25%) vested upon the lapse of 10 months from January 1, 2025 (the "2025 Vesting Commencement Date") and the remaining 75% of the shares subject to the January 2025 Replacement Option have vested and shall vest on equal portions upon the lapse of the last day of each subsequent month thereafter, so that the January 2025 Replacement Option shall be fully vested by the thirty-sixth (36) month from the 2025 Vesting Commencement Date, pursuant to the 2026 Plan.
- [F5]Pursuant to the Merger Agreement, options to purchase an aggregate of 8,000 ordinary shares of Cyabra held by the Reporting Person that was outstanding immediately prior to the Effective Time were, as of the Effective Time, cancelled in consideration for the issuance of an option to purchase shares of the Issuer reported herein under the 2026 Plan, subject to the same terms and conditions as were applicable to the corresponding Cyabra option immediately prior to the Effective Time (the "January 2025 Replacement Option").
Signature
/s/ Yael Sandler, Attorney-in-Fact|2026-03-31