Levy Raphi 4

What Happened

Levy Raphi, Chief Financial Officer of Alpha Tau Medical (DRTS), exercised options to acquire 2,270 shares at $2.98 per share (total exercise cost $6,765) on 2026-07-06 and then sold those 2,270 shares in an open-market transaction the same day at $14.00 per share, generating gross proceeds of $31,782. This sequence (exercise + immediate sale) is a common cashless exercise pattern — a sale rather than a new purchase.

Key Details

• Transaction date: 2026-07-06
• Exercise (code M): 2,270 shares at $2.98; cost = $6,765
• Sale (code S): 2,270 shares at $14.00; proceeds = $31,782
• Net proceeds before taxes/fees: approximately $25,017 (proceeds minus exercise cost)
• Shares owned after the transaction: not specified in the provided filing summary
• Filing: Form 4 filed 2026-07-07 (appears timely, not marked late)
• No 10b5-1 plan or special footnotes were provided in the data you supplied

Context

Because the shares were acquired by exercising a derivative (options) and then sold immediately, this looks like a cashless exercise to realize value rather than a direct vote of confidence in the stock price. Insider sales are common for liquidity, tax, or diversification reasons and do not necessarily signal negative company prospects. Purchases tend to be more informative for bullish sentiment.