Brainsway (BWAY) director Abraham Zangen details sizeable equity stake

Rhea-AI Filing Summary

Brainsway Ltd. director Abraham Zangen filed an initial ownership report showing substantial direct holdings in the company. He holds 905,963 Ordinary Shares, which includes 899,713 shares plus unvested RSUs for 6,250 shares that vest quarterly until March 5, 2028. He also holds stock options over 25,000 Ordinary Shares with an exercise price of NIS 11.17 per share, expiring on March 5, 2034, with the remaining 12,500 options vesting in equal quarterly installments until March 5, 2028. The Ordinary Shares may also be held as American Depositary Shares, each currently representing one Ordinary Share.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Zangen Abraham

(Last) (First) (Middle)

16 HARTUM STREET, RAD TOWER, 14TH FLOOR

HAR HAHOTZVIM

(Street)

JERUSALEM 9777516

(City) (State) (Zip)

ISRAEL

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Brainsway Ltd. [ BWAY ]

3a. Foreign Trading Symbol
[BWAY]

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Ordinary Shares(1)(2)	905,963	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Options (right to buy)	(3)	03/05/2034	Ordinary Shares(1)	25,000	(4)	D

Explanation of Responses:

1. The Ordinary Shares may be represented by American Depositary Shares, each of which currently represents one Ordinary Share.

2. This figure includes: (i) 899,713 ordinary shares, and (ii) unvested restricted stock units ("RSUs") to receive 6,250 ordinary shares that vest quarterly until March 5, 2028, with each RSU representing a contingent right to receive one ordinary share.

3. Stock options were granted on March 5, 2024, with the remaining options to purchase 12,500 ordinary shares vesting in equal quarterly installments until March 5, 2028.

4. The exercise price is NIS 11.17 per share.

	/s/ Abraham Zangen	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does the Brainsway (BWAY) Form 3 filing by Abraham Zangen show?

The Form 3 shows director Abraham Zangen’s initial ownership in Brainsway, including 905,963 Ordinary Shares and stock options over 25,000 shares. It outlines both his current share position and equity compensation structure, such as RSUs and options vesting over time.

How many Brainsway (BWAY) shares does Abraham Zangen beneficially own?

Abraham Zangen beneficially owns 905,963 Ordinary Shares of Brainsway directly. This figure includes 899,713 shares plus unvested RSUs for 6,250 shares that vest quarterly until March 5, 2028, reflecting both current and scheduled future equity.

What stock options does Abraham Zangen hold in Brainsway (BWAY)?

He holds stock options over 25,000 Ordinary Shares in Brainsway. These options were granted on March 5, 2024, carry an exercise price of NIS 11.17 per share, and expire on March 5, 2034, with 12,500 options vesting quarterly until March 5, 2028.

How are Abraham Zangen’s RSUs in Brainsway (BWAY) structured?

His holdings include unvested RSUs to receive 6,250 Ordinary Shares. These RSUs vest quarterly until March 5, 2028, with each RSU representing a contingent right to receive one Ordinary Share, adding to his equity position over the vesting schedule.

Can Brainsway (BWAY) Ordinary Shares be held as American Depositary Shares?

Yes. The filing states that Brainsway’s Ordinary Shares may be represented by American Depositary Shares. Each American Depositary Share currently represents one Ordinary Share, offering an alternative way for investors to hold the company’s equity.

What is the vesting schedule for Abraham Zangen’s Brainsway (BWAY) stock options?

The stock options were granted on March 5, 2024, with the remaining options to purchase 12,500 Ordinary Shares vesting in equal quarterly installments until March 5, 2028. This schedule gradually increases his exercisable option position over that period.