Alpha Tau Medical (DRTS) CFO Raphi Levy Exercises Options, Sells Shares

What Happened
Raphi Levy, Chief Financial Officer of Alpha Tau Medical (DRTS), exercised 17,730 derivative securities (code M) on 2026-08-11 at $2.98 per share (exercise cost $52,835) and on the same day sold those 17,730 shares in the open market (code S) at $14.00 per share, generating proceeds of $248,277. The sequence—exercise followed by same-day sale—effectively is a cashless exercise with an approximate net proceed of $195,442.

Key Details

• Transaction dates: 2026-08-11 (exercise and sale); Form 4 filed 2026-08-12 (timely filing).
• Exercise: 17,730 shares @ $2.98 = $52,835 (code M).
• Sale: 17,730 shares @ $14.00 = $248,277 (code S, open market/private sale).
• Shares owned after transaction: not specified in the provided filing.
• Notable footnotes: no 10b5-1 plan, tax-withholding, or other special instructions disclosed in the provided data.
• Filing timeliness: filed one day after the transactions (appears timely, not flagged late).

Context
This was an option exercise immediately followed by a sale of the exercised shares (a common cashless exercise pattern). Sales by insiders are often routine (to cover exercise cost, taxes, or diversify), so they are generally less indicative of a change in conviction than purchases. Purchases tend to be more informative about insider sentiment.