Elbit Systems (ESLT) EVP Haim Delmar reports indirect stock option holdings

Rhea-AI Filing Summary

Elbit Systems Ltd Executive Vice President Haim Daniel Delmar reports existing stock option holdings. The Form 3 shows indirect beneficial ownership of employee stock options over 9,000 ordinary shares at an exercise price of $134.34 expiring on July 7, 2027, and 40,000 shares at $197.82 expiring on December 19, 2028. These options were granted in 2021 and 2024 with vesting schedules through April 7, 2026 and from September 19, 2026 to September 19, 2028, and are subject to a net exercise mechanism that typically delivers fewer shares than the underlying option amount.

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^*

Delmar Haim Daniel

(Last) (First) (Middle)

ADVANCED TECHNOLOGY CENTER PO BOX 539

(Street)

HAIFA 3100401

(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
ELBIT SYSTEMS LTD [ ESLT ]

3a. Foreign Trading Symbol
[ESLT]

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

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

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

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)

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
Employee Stock Option (right to buy)	(1)	07/07/2027	Ordinary Shares	9,000(2)	$134.34	I(3)	Held in an employee benefit trust by IBI Trust Management
Employee Stock Option (right to buy)	(4)	12/19/2028	Ordinary Shares	40,000(2)	$197.82	I(3)	Held in an employee benefit trust by IBI Trust Management

Explanation of Responses:

1. Mr. Delmar received a grant of options on April 7, 2021, 80% of which has vested and become exercisable. The remaining 20% will vest and become exercisable on April 7, 2026.

2. Unless otherwise determined by the option plans' administrators, a net exercise mechanism will be used with respect to the options, which entitles Mr. Delmar to exercise the options for a number of shares determined based on the excess, if any, of the fair market value of the shares underlying such options minus the exercise price of such options, calculated based on the date of exercise. Therefore, the number of shares actually received by Mr. Delmar following any exercise of options will likely be fewer than the number of shares subject to the options.

3. Mr. Delmar's options are held in trust in accordance with the terms of his award agreement and the option plan under which they were granted. Mr. Delmar is the sole beneficiary of the options.

4. Mr. Delmar received a grant of options on September 19, 2024, which vests and becomes exercisable in three tranches: 40% on September 19, 2026, 30% on September 19, 2027, and 30% on September 19, 2028.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Adi Pinchas Confino, Attorney-in-Fact	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 Elbit Systems (ESLT) Form 3 filing for Haim Daniel Delmar show?

The Form 3 shows that Executive Vice President Haim Daniel Delmar holds indirect employee stock options over 9,000 and 40,000 Elbit Systems ordinary shares. These options were granted in 2021 and 2024, have defined vesting schedules, and are exercisable at set prices before future expiration dates.

How many Elbit Systems (ESLT) shares are covered by Delmar’s reported stock options?

The filing reports employee stock options over 9,000 ordinary shares at one exercise price and 40,000 ordinary shares at another. These represent potential future share acquisitions if the options are exercised under the award terms and net exercise mechanism described in the footnotes.

What are the exercise prices and expirations of Haim Daniel Delmar’s Elbit Systems options?

Delmar’s options cover 9,000 ordinary shares at an exercise price of $134.34 expiring on July 7, 2027, and 40,000 shares at $197.82 expiring on December 19, 2028. These terms define the price and time window for potential future exercises.

How and where are Haim Daniel Delmar’s Elbit Systems options held?

The options are held indirectly in an employee benefit trust managed by IBI Trust Management, according to the filing. Footnotes state they are held in trust under his award agreement and option plan, and that Delmar is the sole beneficiary of the options.

What do the vesting schedules in the Elbit Systems (ESLT) Form 3 indicate for Delmar’s options?

The Form 3 notes that an April 7, 2021 grant is 80% vested, with the remaining 20% vesting on April 7, 2026. A September 19, 2024 grant vests in three tranches on September 19, 2026, 2027, and 2028, affecting when each portion becomes exercisable.

What is the net exercise mechanism mentioned in Haim Daniel Delmar’s Elbit Systems options?

Footnotes explain a net exercise mechanism, where Delmar receives shares based on the excess of fair market value over the exercise price on the exercise date. As a result, the number of shares actually delivered will likely be fewer than the total shares underlying the options.