Enlight (ENLT) chair sells 100,000 shares after option exercise
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Enlight Renewable Energy’s executive chairman, Gilad Yavetz, reported an option exercise, related tax share withholding, and open‑market sales of ordinary shares. He exercised stock options to acquire 77,210 ordinary shares at $23.22 per share, then 20,721 shares were retained by the company to cover the option exercise price.
On the same date, he sold a total of 100,000 ordinary shares in open‑market transactions at $91.78 per share. Following these transactions, Yavetz directly holds 946,436.1 ordinary shares. He also continues to hold performance‑based RSUs covering 76,055 underlying ordinary shares and stock options covering 345,927 underlying ordinary shares with a $27.33 exercise price expiring in 2032.
Positive
- None.
Negative
- None.
Insights
Routine option exercise with partial sale; large remaining stake and awards.
Gilad Yavetz, executive chairman of Enlight Renewable Energy, exercised options for 77,210 ordinary shares at $23.22 and used 20,721 shares to pay the exercise price. This is a typical equity compensation event rather than a pure market purchase.
He then sold 100,000 ordinary shares at $91.78 in open‑market transactions, while still directly holding 946,436.1 shares. He also retains performance‑based RSUs over 76,055 shares and options over 345,927 shares at $27.33 expiring in 2032, indicating substantial continued exposure to the company’s equity.
Insider Trade Summary
Net Seller: 100,000 shares ($9,178,000)
Net Sell
7 txns
Insider
Yavetz Gilad
Role
EXEC. CHAIRMAN OF THE BOARD
Sold
100,000 shs ($9.18M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Options (right to buy) | 77,210 | $0.00 | -- |
| Exercise | Ordinary shares, NIS 0.1 par value per share | 77,210 | $23.22 | $1.79M |
| Tax Withholding | Ordinary shares, NIS 0.1 par value per share | 20,721 | $91.78 | $1.90M |
| Sale | Ordinary shares, NIS 0.1 par value per share | 56,489 | $91.78 | $5.18M |
| Sale | Ordinary shares, NIS 0.1 par value per share | 43,511 | $91.78 | $3.99M |
| holding | Stock Options (right to buy) | -- | -- | -- |
| holding | Performance-Based RSUs | -- | -- | -- |
Holdings After Transaction:
Stock Options (right to buy) — 274,997 shares (Direct, null);
Ordinary shares, NIS 0.1 par value per share — 967,157.1 shares (Direct, null);
Performance-Based RSUs — 76,055 shares (Direct, null)
Footnotes (1)
- Represents an exercise price of NIS 71.89, converted to U.S. dollars using the Bank of Israel representative exchange rate of $1.00 to NIS 3.096 as of March 18, 2026. Includes (i) 43,512 restricted share units granted on April 17, 2024, with 21,756 vesting on each of April 17, 2027 and April 17, 2028; and (ii) 6,726 restricted share units granted on October 1, 2025, with 1,681 vesting on October 1, 2026, 1,682 vesting on October 1, 2027, 1,681 vesting on October 1, 2028, and 1,682 vesting on October 1, 2029. Each restricted share unit represents a contingent right to receive one ordinary share of the Company. These shares were retained by the Company in payment of the exercise price of the employee stock options exercised by the Reporting Person. The amount retained by the Company was not in excess of the amount of the exercise price. Represents a transaction price of NIS 267.00, converted to U.S. dollars using the Bank of Israel representative exchange rate of $1.00 to NIS 2.909 as of the date immediately preceding the date of the transaction. Stock options were granted on September 30, 2021, with 24,997 having vested on September 30, 2023, 50,000 having vested on December 30, 2023, 50,000 having vested on March 30, 2023, 50,000 having vested on June 30, 2023, 50,000 having vested on September 30, 2024, 12,500 having vested on December 30, 2024, 12,500 having vested on March 30, 2025, 12,500 having vested on June 30, 2025, and 12,500 having vested on September 30, 2025. Represents an exercise price of NIS 84.60, converted to U.S. dollars using the Bank of Israel representative exchange rate of $1.00 to NIS 3.096 as of March 18, 2026. Stock options were granted on October 1, 2025, with 86,481 vesting on October 1, 2026, and 86,482 vesting on each of October 1, 2027, October 1, 2028, and October 1, 2029. No transaction has been effected by the Reporting Person with respect to these securities, and they are being included in this Form 4 for informational purposes only. Performance-based RSUs ("PSUs") were granted on October 1, 2025 and vest in four annual tranches: 19,013 on October 1, 2026, and 19,014 on each of October 1, 2027, 2028, and 2029, beginning 12 months after the grant date, subject to continued service as an office holder and achievement of performance metrics for the preceding calendar year. The metrics, Total Income and Revenues, and Adjusted EBITDA (each as reported in the Company's Annual Report on Form 20-F), are measured against the midpoint of the Company's forecast published at the start of the applicable performance year. Achievement of 90% of the target yields 50% vesting for that metric's portion of the tranche, with linear interpolation for achievement between 90% and 100%. Metrics are weighted equally and evaluated independently; overperformance in one cannot offset the other. Each PSU represents a contingent right to receive one ordinary share of the Company upon vesting.
Key Figures
Shares sold: 100,000 shares
Sale price: $91.78 per share
Options exercised: 77,210 shares
+5 more
8 metrics
Shares sold
100,000 shares
Ordinary shares sold in open-market transactions at $91.78
Sale price
$91.78 per share
Price for 100,000 ordinary shares sold on May 13, 2026
Options exercised
77,210 shares
Ordinary shares acquired via option exercise at $23.22
Option exercise price
$23.22 per share
Exercise price for 77,210 stock options
Shares retained for exercise price
20,721 shares
Shares retained by company to pay option exercise price
Direct holdings after transactions
946,436.1 shares
Ordinary shares directly held by Gilad Yavetz after transactions
Performance-based RSUs underlying shares
76,055 shares
Underlying ordinary shares for performance-based RSUs
Outstanding stock options
345,927 shares at $27.33
Options over ordinary shares expiring October 1, 2032
Key Terms
Performance-Based RSUs, restricted share units, tax-withholding disposition, derivative security, +2 more
6 terms
Performance-Based RSUs financial
"Performance-based RSUs ("PSUs") were granted on October 1, 2025 and vest in four annual tranches"
Performance-based restricted stock units (RSUs) are promises to deliver company shares to employees only if the business meets specific goals, such as revenue, profit, stock-price targets, or strategic milestones. For investors, they matter because they change future share supply and align management incentives with company results—like a salesperson whose bonus only pays out when sales targets are hit—so they can affect earnings, dilution, and confidence in leadership.
tax-withholding disposition financial
"transaction_action": "tax-withholding disposition""
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
Adjusted EBITDA financial
"The metrics, Total Income and Revenues, and Adjusted EBITDA (each as reported in the Company's Annual Report on Form 20-F)"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
exercise price financial
"Represents an exercise price of NIS 71.89, converted to U.S. dollars"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
FAQ
What did Enlight (ENLT) executive chairman Gilad Yavetz do in this Form 4?
Gilad Yavetz exercised stock options for 77,210 ordinary shares at $23.22 and used 20,721 shares to pay the exercise price. He also sold 100,000 ordinary shares at $91.78 in open‑market transactions while retaining a sizable shareholding and equity awards.
What options did Gilad Yavetz exercise in the Enlight (ENLT) Form 4?
He exercised stock options covering 77,210 ordinary shares at an exercise price of $23.22 per share. A portion of the resulting shares, 20,721, was retained by the company to pay the exercise price, consistent with the tax and exercise settlement mechanics described in the footnotes.
What equity awards does Gilad Yavetz still hold in Enlight (ENLT)?
He continues to hold performance‑based RSUs tied to 76,055 underlying ordinary shares and stock options over 345,927 ordinary shares at a $27.33 exercise price. These options expire on October 1, 2032 and represent a significant ongoing equity incentive position for the executive chairman.
Are the performance-based RSUs for Enlight (ENLT) subject to financial targets?
Yes. The performance-based RSUs vest annually from 2026 to 2029 based on Total Income and Revenues and Adjusted EBITDA versus the company’s annual forecast midpoint. Achieving 90% of target yields 50% vesting for each metric portion, with linear interpolation between 90% and 100% achievement.