Elbit Systems (ESLT) EVP discloses trust-held stock options on Form 3
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Elbit Systems executive Boaz Cohen filed an initial ownership report showing indirect holdings of two employee stock option grants held in trust. One grant covers 20,000 Ordinary Shares at an exercise price of $197.82 per share, expiring on December 19, 2028, vesting 40%/30%/30% from 2026 to 2028.
A second grant covers 5,000 Ordinary Shares at an exercise price of $912.60 per share, expiring on June 24, 2031, vesting 40%/30%/30% from 2028 to 2030. The options use a net exercise mechanism, so the actual shares received on exercise will be fewer than the underlying amounts.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Cohen Boaz
Role
Executive Vice President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (right to buy) — 20,000 shares (Indirect, Held in an employee benefit trust by IBI Trust Management)
Footnotes (1)
- Mr. Cohen 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. Unless otherwise determined by the option plan's administrator, a net exercise mechanism will be used with respect to the options, which entitles Mr. Cohen 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. Cohen following any exercise of options will likely be fewer than the number of shares subject to the options. Mr. Cohen'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. Cohen is the sole beneficiary of the options. Mr. Cohen received a grant of options on March 24, 2026, which vests and becomes exercisable in three tranches: 40% on March 24, 2028, 30% on March 24, 2029, and 30% on March 24, 2030.
Key Figures
Underlying shares (2024 grant): 20,000 shares
Exercise price (2024 grant): $197.82/share
Underlying shares (2026 grant): 5,000 shares
+4 more
7 metrics
Underlying shares (2024 grant)
20,000 shares
Employee stock option grant dated September 19, 2024
Exercise price (2024 grant)
$197.82/share
Employee stock option expiring December 19, 2028
Underlying shares (2026 grant)
5,000 shares
Employee stock option grant dated March 24, 2026
Exercise price (2026 grant)
$912.60/share
Employee stock option expiring June 24, 2031
Vesting schedule (2024 grant)
40%/30%/30%
Vesting on Sept 19, 2026/2027/2028 respectively
Vesting schedule (2026 grant)
40%/30%/30%
Vesting on Mar 24, 2028/2029/2030 respectively
Net exercise feature
Value-only share delivery
Shares received based on fair market value minus exercise price
Key Terms
Employee Stock Option (right to buy), net exercise mechanism, employee benefit trust, Ordinary Shares, +1 more
5 terms
Employee Stock Option (right to buy) financial
"security_title: Employee Stock Option (right to buy)"
net exercise mechanism financial
"a net exercise mechanism will be used with respect to the options"
employee benefit trust financial
"Held in an employee benefit trust by IBI Trust Management"
An employee benefit trust is a pool of shares or cash held by an independent trustee to deliver pay, bonuses or long-term incentives to a company’s staff. Think of it like a communal piggy bank managed by a neutral guardian that releases rewards to employees over time. Investors watch these trusts because they change how many shares are available, can affect voting control, and signal whether employee pay aligns with long-term company performance.
vests and becomes exercisable financial
"which vests and becomes exercisable in three tranches"
FAQ
What does Elbit Systems (ESLT) executive Boaz Cohen report on this Form 3?
Boaz Cohen reports his initial indirect holdings of two employee stock option grants. Together they relate to 25,000 Elbit Systems Ordinary Shares, held in an employee benefit trust where he is the sole beneficiary, with specified exercise prices and expiration dates.
What are the exercise prices of Boaz Cohen’s Elbit Systems (ESLT) options?
One option grant has an exercise price of $197.82 per share, and the other has an exercise price of $912.60 per share. These prices determine the value threshold at which exercising the options may deliver economic benefit to the holder.
When do Boaz Cohen’s Elbit Systems (ESLT) options vest and become exercisable?
The September 19, 2024 grant vests 40% in 2026, 30% in 2027, and 30% in 2028. The March 24, 2026 grant vests 40% in 2028, 30% in 2029, and 30% in 2030. Each tranche becomes exercisable as it vests.
What is the net exercise mechanism mentioned for Elbit Systems (ESLT) options?
The net exercise mechanism lets Boaz Cohen receive only the economic value of his options, not all underlying shares. He receives shares equal to the fair market value minus the exercise price, so the resulting share count is lower than the options’ full underlying share amount.
How are Boaz Cohen’s Elbit Systems (ESLT) options held according to the Form 3?
The options are held in an employee benefit trust managed by IBI Trust Management. The filing states they are held in accordance with his award agreement and option plan, and that Boaz Cohen is the sole beneficiary of these trust-held options.