Heymann Emmanuel 4

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.