Cyabra (NASDAQ: CYAB) CPO gains 710,549 shares from merger conversion and RSUs

Rhea-AI Filing Summary

CYABRA, INC. Chief Product Officer Yossef Daar indirectly acquired common stock in connection with the company’s business combination and a new equity award. At the effective time of the Business Combination, 160,000 ordinary shares of Cyabra held for him were converted into 577,549 shares of the issuer’s common stock, held by IBI Trust Management in trust.

On March 27, 2026, he was also granted 133,000 restricted stock units under the Cyabra, Inc. 2026 Omnibus Equity Incentive Plan, fully vested upon grant and effective 30 days after the 2026 Israeli Sub-Plan is filed with the Israel Tax Authority. Following these acquisitions, his indirect holdings reported in this filing total 710,549 shares.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Daar Yossef

Role Chief Product Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	577,549	$0.00	--
Grant/Award	Common Stock	133,000	$0.00	--

Holdings After Transaction: Common Stock — 577,549 shares (Indirect, See footnote)

Footnotes (1)

1. Received in connection with the Issuer's business combination with Trailblazer Merger Corporation I ("Trailblazer"), in accordance with the terms of the Merger Agreement, dated July 22, 2024, as amended (the "Merger Agreement"), by and among Trailblazer, Trailblazer Merger Sub, Ltd. ("Merger Sub"), Trailblazer Holdings, Inc. ("Holdings"), and Cyabra Strategy Ltd. ("Cyabra"), pursuant to which (a) Trailblazer merged with and into Holdings, with Holdings as the surviving entity of the merger (the "Parent Merger"), and (b) Merger Sub merged with and into Cyabra, with Cyabra as the surviving entity of the merger (together with the Parent Merger and all other transactions contemplated by the Merger Agreement, the "Business Combination"), following which Merger Sub ceased to exist and Cyabra became a wholly owned subsidiary of Holdings. After giving effect to the Business Combination, Holdings changed its name to the Issuer. Pursuant to the Merger Agreement, 160,000 ordinary shares of Cyabra held by the Reporting Person that were outstanding immediately prior to the effective time of the Business Combination (the "Effective Time") were, as of the Effective Time, converted into 577,549 shares of the Issuer. Held by IBI Trust Management in trust for the Reporting Person. On March 27, 2026, the Reporting Person was granted 133,000 restricted stock units of the Issuer pursuant to the Cyabra, Inc. 2026 Omnibus Equity Incentive Plan (the "2026 Plan") which were fully vested upon grant. Such grant is effective 30 days after the 2026 Israeli Sub-Plan to the 2026 Plan is filed with the Israel Tax Authority.

Key Figures

Shares from Cyabra conversion: 577,549 shares Original Cyabra ordinary shares: 160,000 shares RSU grant size: 133,000 units +3 more

6 metrics

Shares from Cyabra conversion 577,549 shares Cyabra ordinary shares converted into issuer common stock at Business Combination effective time

Original Cyabra ordinary shares 160,000 shares Ordinary shares of Cyabra converted into issuer shares in the Business Combination

RSU grant size 133,000 units Restricted stock units granted on March 27, 2026 under 2026 Omnibus Equity Incentive Plan

Total holdings after transactions 710,549 shares Indirect CYAB common stock holdings reported following both acquisitions

Grant vesting status Fully vested 133,000 RSUs were fully vested upon grant on March 27, 2026

RSU effectiveness condition 30 days post-filing Grant effective 30 days after 2026 Israeli Sub-Plan is filed with Israel Tax Authority

Key Terms

Business Combination, Merger Agreement, restricted stock units, 2026 Omnibus Equity Incentive Plan, +1 more

5 terms

Business Combination financial

"After giving effect to the Business Combination, Holdings changed its name to the Issuer."

A business combination happens when two or more companies join together to operate as one, like two friends merging their teams into a single group. This is important because it can change how companies grow, compete, and make money, often making them bigger and more powerful in the market.

Merger Agreement regulatory

"in accordance with the terms of the Merger Agreement, dated July 22, 2024, as amended"

A merger agreement is a binding contract that lays out the exact terms for two companies to combine, including the price, what each side will deliver, and the conditions that must be met before the deal is completed. Investors care because it sets the timetable, payouts and risks — like a blueprint or prenup that shows whether the deal is likely to close, how ownership will change, and what could cancel or alter the payout they expect.

restricted stock units financial

"the Reporting Person was granted 133,000 restricted stock units of the Issuer pursuant to the Cyabra, Inc. 2026 Omnibus Equity Incentive Plan"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

2026 Omnibus Equity Incentive Plan financial

"granted 133,000 restricted stock units of the Issuer pursuant to the Cyabra, Inc. 2026 Omnibus Equity Incentive Plan"

trust financial

"Held by IBI Trust Management in trust for the Reporting Person."

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Daar Yossef

(Last) (First) (Middle)

C/O CYABRA, INC.

13 GERSHON SHATZ

(Street)

TEL AVIV 6997543

(City) (State) (Zip)

ISRAEL

(Country)

2. Issuer Name and Ticker or Trading Symbol
CYABRA, INC. [ CYAB ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/27/2026

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

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

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/27/2026		A		577,549(1)(2)	A	(1)(2)	577,549(1)(2)	I	See footnote(3)
Common Stock	03/27/2026		A		133,000(4)	A	$0	710,549	I	See footnote(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Received in connection with the Issuer's business combination with Trailblazer Merger Corporation I ("Trailblazer"), in accordance with the terms of the Merger Agreement, dated July 22, 2024, as amended (the "Merger Agreement"), by and among Trailblazer, Trailblazer Merger Sub, Ltd. ("Merger Sub"), Trailblazer Holdings, Inc. ("Holdings"), and Cyabra Strategy Ltd. ("Cyabra"), pursuant to which (a) Trailblazer merged with and into Holdings, with Holdings as the surviving entity of the merger (the "Parent Merger"), and (b) Merger Sub merged with and into Cyabra, with Cyabra as the surviving entity of the merger (together with the Parent Merger and all other transactions contemplated by the Merger Agreement, the "Business Combination"), following which Merger Sub ceased to exist and Cyabra became a wholly owned subsidiary of Holdings. After giving effect to the Business Combination, Holdings changed its name to the Issuer.

2. Pursuant to the Merger Agreement, 160,000 ordinary shares of Cyabra held by the Reporting Person that were outstanding immediately prior to the effective time of the Business Combination (the "Effective Time") were, as of the Effective Time, converted into 577,549 shares of the Issuer.

3. Held by IBI Trust Management in trust for the Reporting Person.

4. On March 27, 2026, the Reporting Person was granted 133,000 restricted stock units of the Issuer pursuant to the Cyabra, Inc. 2026 Omnibus Equity Incentive Plan (the "2026 Plan") which were fully vested upon grant. Such grant is effective 30 days after the 2026 Israeli Sub-Plan to the 2026 Plan is filed with the Israel Tax Authority.

	/s/ Yael Sandler, Attorney-in-Fact	03/31/2026
	** 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 4 (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 4: SEC 1474 (03-26)

FAQ

What insider transaction did CYAB Chief Product Officer Yossef Daar report?

Yossef Daar reported indirect acquisitions of CYAB common stock. 160,000 Cyabra ordinary shares he held were converted into 577,549 issuer shares in a business combination, and he received 133,000 fully vested restricted stock units under the 2026 Omnibus Equity Incentive Plan.

How many CYAB shares does Yossef Daar hold after this Form 4 filing?

After the reported transactions, Yossef Daar’s indirect holdings total 710,549 CYAB common shares. This includes 577,549 shares received in exchange for Cyabra ordinary shares plus 133,000 restricted stock units granted under the 2026 equity plan, all held through a trust arrangement.

How did the CYAB business combination affect Yossef Daar’s holdings?

The business combination converted 160,000 Cyabra ordinary shares held for Yossef Daar into 577,549 CYAB common shares. This conversion occurred at the effective time of the transaction under the Merger Agreement among Trailblazer entities, Holdings, and Cyabra, creating his new indirect equity position.

What are the terms of Yossef Daar’s 133,000 CYAB restricted stock units?

On March 27, 2026, Yossef Daar was granted 133,000 restricted stock units under the Cyabra, Inc. 2026 Omnibus Equity Incentive Plan. These RSUs were fully vested upon grant and become effective 30 days after the 2026 Israeli Sub-Plan is filed with the Israel Tax Authority.

How are Yossef Daar’s CYAB shares held according to the Form 4 footnotes?

The reported CYAB shares are held by IBI Trust Management in trust for Yossef Daar. This means the ownership is indirect, with the trust entity technically holding legal title while the economic interest is attributed to him as the reporting person in the Form 4.