Elbit Systems EVP reports initial option holdings

Elbit Systems executive Boaz Cohen filed an initial ownership report showing indirect holdings of two employee stock option grants held in trust.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

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.

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) — 25,000 contracts (Indirect, Held in an employee benefit trust by IBI Trust Management)

Footnotes (4)

F1. 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.
F2. 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.
F3. 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.
F4. 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.

Ordinary Shares financial

"underlying_security_title: Ordinary Shares"

Ordinary shares are a type of ownership stake in a company, giving shareholders a right to participate in the company’s profits and decision-making through voting. They are similar to owning a piece of a business, and their value can rise or fall based on the company's performance. Investors buy ordinary shares to potentially earn dividends and benefit from the company's growth over time.

vests and becomes exercisable financial

"which vests and becomes exercisable in three tranches"

FAQ

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

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.

How many Elbit Systems (ESLT) shares are covered by Boaz Cohen’s options?

The filing shows options over 20,000 Ordinary Shares in one grant and 5,000 Ordinary Shares in another. These represent potential future share acquisitions, subject to vesting schedules and the net exercise mechanism described in the footnotes.

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.

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

Understanding Insider Trading Forms →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

Accepted by SEC EDGAR 04/16/2026 - 12:16 PM EDT

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^*

Cohen Boaz

(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)
04/12/2026

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)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	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)
Employee Stock Option (right to buy)	⁽¹⁾	12/19/2028	Ordinary Shares	20,000⁽²⁾	$197.82	I⁽³⁾	Held in an employee benefit trust by IBI Trust Management
Employee Stock Option (right to buy)	⁽⁴⁾	06/24/2031	Ordinary Shares	5,000⁽²⁾	$912.6	I⁽³⁾	Held in an employee benefit trust by IBI Trust Management

Explanation of Responses:

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.

2. 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.

3. 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.

4. 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.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Adi Pinchas Confino, Attorney-in-Fact	04/16/2026
	** 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)

Source: View Original Filing on SEC EDGAR