Sfadia Adi 4

What Happened Adi Sfadia, CEO of Gilat Satellite Networks (GILT), sold a total of 48,978 shares in open‑market transactions on March 18, 2026 at a weighted average price of $16.85, generating approximately $825,269 in proceeds. On the same day he also exercised 6,010 stock options on a net basis; shares were withheld to cover the exercise price so the exercise generated no cash proceeds and resulted in issuance of 3,978 shares (which were immediately sold).

Key Details

• Transaction date: March 18, 2026 (reported on Form 4 filed March 19, 2026; timely).
• Sales: 3,978 shares ($67,029), 37,500 shares ($631,867), and 7,500 shares ($126,373) at a weighted average of $16.85 per share; total ≈ $825,269.
• Option exercise (derivative): Exercised 6,010 options (reported with $0 cash proceeds due to net exercise); 3,978 shares issued and withheld/sold to cover exercise/exercise price.
• Plan/other notes: Sales were made under a Rule 10b5‑1 trading plan adopted Dec 17, 2025 (F1). The reporting person used net withholding to cover exercise costs (F2, F5). The reported sale price is a weighted average; the filer offers to provide a full breakdown on request (F3). Some shares reported were from vested Performance Stock Units granted 02/13/2025 (F4).
• Shares owned after the transactions: not specified in the filing.

Context

• This was primarily a sale (routine liquidity) carried out under a pre‑established 10b5‑1 plan, which is commonly used to avoid questions of timing. The options exercise was effectively cashless/net (shares withheld/sold to cover the exercise price), so no cash proceeds were reported from the exercise itself. Retail investors should view these as insider sales rather than a fresh purchase signal; filings like this are factual records of transactions, not direct commentary on future company performance.