Brainsway (BWAY) director David Zacut details sizeable share and option stake

Rhea-AI Filing Summary

Brainsway Ltd. director David Zacut filed an initial ownership report detailing his equity position in the company. He directly holds 1,382,865 Ordinary Shares as of the filing, including 1,370,365 shares held jointly with his spouse, 6,250 additional shares, and unvested RSUs for 6,250 shares that vest quarterly until March 5, 2028.

He also indirectly holds 363,545 Ordinary Shares through Meromei Elran David 2003 Ltd. and 45,058 Ordinary Shares through Meromei Elran Ltd., both wholly owned entities where he serves as sole director. In addition, he holds stock options over 25,000 Ordinary Shares, granted on March 5, 2024, with an exercise price of NIS 11.17 per share and an expiration date of March 5, 2034. The remaining options for 12,500 shares vest in equal quarterly installments until March 5, 2028. Each Ordinary Share may be represented by one American Depositary Share.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Zacut David

Role Director

Type	Security	Shares	Price	Value
holding	Stock Options (right to buy)	--	--	--
holding	Ordinary Shares	--	--	--
holding	Ordinary Shares	--	--	--
holding	Ordinary Shares	--	--	--

Holdings After Transaction: Stock Options (right to buy) — 25,000 shares (Direct); Ordinary Shares — 1,382,865 shares (Direct); Ordinary Shares — 363,545 shares (Indirect, By Meromei Elran David 2003 Ltd.)

Footnotes (1)

1. The Ordinary Shares may be represented by American Depositary Shares, each of which currently represents one Ordinary Share. This figure includes: (i) 1,370,365 ordinary shares held jointly by Dr. Zacut and his spouse, (ii) 6,250 ordinary shares, and (iii) 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. Meromei Elran David 2003 Ltd. is wholly owned by the Reporting Person, who serves as its sole director. Meromei Elran Ltd. is wholly owned by the Reporting Person, who serves as its sole director. 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. The exercise price is NIS 11.17 per share.

Understanding Insider Trading Forms →

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

OMB APPROVAL

OMB Number:			3235-0104
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hours per response:			0.5

1. Name and Address of Reporting Person^*

Zacut David

(Last) (First) (Middle)

16 HARTUM STREET, RAD TOWER, 14TH FLOOR

HAR HAHOTZVIM

(Street)

JERUSALEM 9777516

(City) (State) (Zip)

UNITED STATES

(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)	1,382,865	D
Ordinary Shares(1)	363,545	I	By Meromei Elran David 2003 Ltd.(3)
Ordinary Shares(1)	45,058	I	By Meromei Elran Ltd.(4)

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)	(5)	03/05/2034	Ordinary Shares(1)	25,000	(6)	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) 1,370,365 ordinary shares held jointly by Dr. Zacut and his spouse, (ii) 6,250 ordinary shares, and (iii) 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. Meromei Elran David 2003 Ltd. is wholly owned by the Reporting Person, who serves as its sole director.

4. Meromei Elran Ltd. is wholly owned by the Reporting Person, who serves as its sole director.

5. 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.

6. The exercise price is NIS 11.17 per share.

	/s/ David Zacut	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 Brainsway (BWAY) director David Zacut report owning on this Form 3?

He reports direct ownership of 1,382,865 Ordinary Shares, including jointly held shares, additional shares, and unvested RSUs. He also reports indirect holdings and stock options, giving investors a clear view of his initial equity stake in Brainsway.

How many Brainsway (BWAY) shares does David Zacut hold indirectly?

He reports indirect ownership of 363,545 Ordinary Shares through Meromei Elran David 2003 Ltd. and 45,058 Ordinary Shares through Meromei Elran Ltd. Both entities are wholly owned by him, and he serves as their sole director.

What stock options does David Zacut hold in Brainsway (BWAY)?

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

How are David Zacut’s direct Brainsway (BWAY) holdings composed?

His 1,382,865 directly held Ordinary Shares include 1,370,365 shares jointly held with his spouse, 6,250 additional shares, and unvested RSUs for 6,250 shares that vest quarterly until March 5, 2028, each RSU converting into one share.

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

Yes. Each Brainsway Ordinary Share may be represented by one American Depositary Share (ADS). This one-to-one relationship allows investors to hold the company’s equity through ADSs while maintaining equivalent economic exposure to the underlying Ordinary Shares.

Does this Brainsway (BWAY) Form 3 show any insider buying or selling?

No transactions are reported; the filing lists holding entries only. It serves as an initial statement of beneficial ownership, outlining David Zacut’s direct, indirect, and derivative positions without indicating any recent purchases or sales of Brainsway securities.