Oramed (ORMP) CSO Miriam Kidron Receives 417,416 Shares

What Happened Miriam Kidron, Chief Scientific Officer and a director of Oramed Pharmaceuticals (ORMP), participated in an option exchange program on September 24, 2026. She surrendered/cancelled a total of 492,999 outstanding stock options (derivative dispositions to the issuer) and, in exchange, received (1) a restricted stock award of 208,125 shares that fully vested upon grant and was valued at $4.75 per share (aggregate value ≈ $988,594), and (2) a separate restricted stock award of 209,291 shares under the company’s 2019 Stock Incentive Plan (40% vested on grant; the remaining 60% vests in eight equal quarterly installments over the next 24 months). The option cancellation and the restricted stock grants were approved in advance by a committee of non‑employee directors.

Key Details

• Transaction date: September 24, 2026 (Form 4 filed September 25, 2026 — timely).
• Options cancelled (derivative dispositions): 492,999 total (comprised of multiple prior option grants with vesting schedules from 2017–2026 per filing footnotes).
• Shares received: 208,125 vested restricted shares (valued at $4.75 each; ≈ $988,594) + 209,291 restricted shares (40% vested immediately).
• Vesting for the 209,291 award: 40% on grant; remaining 60% in eight substantially equal quarterly installments over 24 months, subject to continued service and forfeiture rules.
• Shares owned after the transactions: not specified in the provided filing.
• Nature of transactions: not open‑market buys/sells — this was an option exchange and restricted stock grants (derivative surrender → award).
• Approval: transactions approved by a committee of non‑employee directors.

Context This filing reflects an option exchange program (surrender/cancellation of old options) and issuance of restricted stock awards. The 208,125 shares were fully vested when granted (immediate economic ownership), while the larger 209,291 award is subject to standard time‑based vesting. Because these were not open‑market sales or purchases by the insider, they do not reflect a market sale or buy signal in the usual sense — they document a corporate restructuring of option compensation into restricted stock.