Gilat (GILT) Director Ofek Amir Yechiel Exercises Options and Sells Shares

What Happened
Director Ofek Amir Yechiel exercised stock options on a net (cashless) basis and sold the resulting shares the same day. According to the Form 4, he exercised 8,334 options (reported as a derivative exercise) that resulted—after shares were withheld to cover the exercise price—in the issuance of 3,923 shares. Those 3,923 shares were sold in an open-market sale at $11.41 each, generating proceeds of $44,761.

Key Details

• Transaction dates: Aug 6, 2026 (Period of Report). Form 4 filed Aug 10, 2026 (within the required two business days).
• Sale: 3,923 shares sold at $11.41 each = $44,761 (Transaction code S).
• Exercise/conversion: 8,334 options exercised (Transaction code M); reported as $0 because this reflects the derivative conversion, not cash proceeds.
• Footnotes: Shares were withheld to cover the exercise price (net/cashless exercise). The 3,923 shares issued upon exercise were sold the same day.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• No 10b5-1 plan or late filing indicated in the report.

Context
This was a cashless (net) option exercise with immediate sale of the issued shares — a common way insiders monetize option gains and cover exercise costs and taxes. Sales like this are often routine and do not necessarily signal a change in the insider’s view of the company. Transaction codes: M = option exercise, S = sale; F-type activity here reflects withholding to cover exercise costs.