Brainsway director files initial ownership report

Brainsway Ltd. director Mitrany Rayten Michal Ety filed an initial statement of beneficial ownership.

Rhea-AI Filing Summary

Brainsway Ltd. director Mitrany Rayten Michal Ety filed an initial statement of beneficial ownership. The filing shows 12,500 Ordinary Shares held directly, including 6,250 shares and 6,250 RSUs that vest quarterly until March 5, 2028. It also reports stock options over 27,500 shares granted on January 13, 2020 expiring in 2028 with a NIS 15.26 exercise price, and options over 25,000 shares granted on March 5, 2024 expiring in 2034 with a NIS 11.17 exercise price, with 12,500 of those options vesting quarterly until March 5, 2028. The Ordinary Shares may be represented by American Depositary Shares on a one-for-one basis.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Mitrany Rayten Michal Ety

Role Director

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

Holdings After Transaction: Stock Options (right to buy) — 52,500 contracts (Direct); Ordinary Shares — 12,500 shares (Direct)

Footnotes (6)

1. F1. The Ordinary Shares may be represented by American Depositary Shares, each of which currently represents one Ordinary Share.
2. F2. This figure includes: (i) 6,250 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. F3. Stock options were granted on January 13, 2020, and were fully vested by November 28, 2023.
4. F4. The exercise price is NIS 15.26 per share.
5. F5. 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. F6. The exercise price is NIS 11.17 per share.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does Brainsway (BWAY) director Mitrany Rayten Michal Ety report on this Form 3?

The Form 3 reports initial holdings of Brainsway securities, not new trades. It shows direct ownership of 12,500 Ordinary Shares plus stock options and RSUs that vest over time, establishing the director’s baseline position as of the reporting date.

How many Brainsway (BWAY) Ordinary Shares does the director beneficially own?

The filing shows beneficial ownership of 12,500 Ordinary Shares. This figure includes 6,250 currently held shares and 6,250 RSUs that vest quarterly until March 5, 2028, each RSU representing a contingent right to receive one Ordinary Share upon vesting.

What stock options held by the Brainsway (BWAY) director are disclosed?

The director holds options over 27,500 Ordinary Shares granted January 13, 2020, expiring in 2028 with a NIS 15.26 exercise price, and options over 25,000 shares granted March 5, 2024, expiring in 2034 with a NIS 11.17 exercise price, subject to vesting schedules.

What is the vesting schedule for the newer Brainsway (BWAY) stock options?

The March 5, 2024 grant includes remaining options to purchase 12,500 Ordinary Shares. These options vest in equal quarterly installments until March 5, 2028, spreading the director’s additional exercisable rights over a four-year period, as long as vesting conditions are met.

How do Brainsway (BWAY) American Depositary Shares relate to Ordinary Shares in this filing?

The filing explains that each American Depositary Share currently represents one Ordinary Share. This one-for-one ratio means the reported Ordinary Share and option amounts map directly to ADSs, helping investors align the disclosed holdings with U.S.-traded instruments.

Are there any stock options already fully vested for the Brainsway (BWAY) director?

Yes. The stock options granted on January 13, 2020 are described as fully vested by November 28, 2023. This means the entire 27,500-share option grant is exercisable, subject to its NIS 15.26 exercise price and expiration date in 2028.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/18/2026 - 04:05 PM Learn about SEC filing dates

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
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Mitrany Rayten Michal Ety

(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)	12,500	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)	01/13/2028	Ordinary Shares(1)	27,500	(4)	D
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) 6,250 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 January 13, 2020, and were fully vested by November 28, 2023.

4. The exercise price is NIS 15.26 per share.

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/ Ety Mitrany	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)