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Elbit Systems (NASDAQ: ESLT) EVP exercises options and sells remaining shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Elbit Systems Executive Vice President Haim Daniel Delmar exercised employee stock options to acquire 9,000 ordinary shares of Elbit Systems Ltd. at $134.34 per share, held indirectly through an employee benefit trust.

The company retained 1,346 shares to pay the option exercise price, and the remaining 7,654 shares were sold in an open-market transaction at $887.40 per share. Following these transactions, the trust reported no remaining options or shares for this award.

Positive

  • None.

Negative

  • None.
Insider Delmar Haim Daniel
Role Executive Vice President
Sold 7,654 shs ($6.79M)
Type Security Shares Price Value
Exercise Employee Stock Option (right to buy) 9,000 $0.00 --
Exercise Ordinary shares, par value 1.00 NIS per share 9,000 $134.34 $1.21M
Tax Withholding Ordinary shares, par value 1.00 NIS per share 1,346 $898.47 $1.21M
Sale Ordinary shares, par value 1.00 NIS per share 7,654 $887.40 $6.79M
Holdings After Transaction: Employee Stock Option (right to buy) — 0 shares (Indirect, Held in an employee benefit trust by IBI Trust Management); Ordinary shares, par value 1.00 NIS per share — 9,000 shares (Indirect, Held in an employee benefit trust by IBI Trust Management)
Footnotes (1)
  1. Mr. Delmar's options and the shares resulting from any exercise of those options were held in trust in accordance with the terms of his award agreement and the plan under which they were granted. Mr. Delmar was the sole beneficiary of the options. These shares were retained by the Company in payment of the exercise price of the employee stock options exercised by Mr. Delmar. The amount retained by the Company was not in excess of the amount of the exercise price. The price was paid in New Israeli Shekel. For purposes of this Form 4, a conversion rate of NIS 3.142 for each USD $1.00 was used, which was the closing foreign exchange rate on the date immediately preceding the date of the transaction. These options vested and became exercisable in four tranches: 40% on April 7, 2023, 20% on April 7, 2024, 20% on April 7, 2025 and 20% on April 7, 2026.
Options exercised 9,000 shares Employee stock options exercised on April 9, 2026
Option exercise price $134.34/share Exercise price for 9,000 options
Shares retained for exercise price 1,346 shares Retained by company as payment of exercise price
Retention price $898.47/share Value of shares retained to pay exercise price
Shares sold 7,654 shares Open-market sale on April 9, 2026
Sale price $887.40/share Price for open-market sale of 7,654 shares
Remaining derivatives 0 options No remaining options from this grant after exercise
Shares after transactions 0 shares Trust holdings from this award after sale and retention
Employee Stock Option (right to buy) financial
"security_title: Employee Stock Option (right to buy)"
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.
employee benefit trust financial
"nature_of_ownership: 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.
Exercise or conversion of derivative security financial
"transaction_code_description: Exercise or conversion of derivative security"
open-market sale financial
"transaction_action: open-market sale"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Delmar Haim Daniel
(Last)(First)(Middle)
ADVANCED TECHNOLOGY CENTER PO BOX 539
(Street)
HAIFA3100401
(City)(State)(Zip)
ISRAEL
(Country)		2. Issuer Name and Ticker or Trading Symbol
ELBIT SYSTEMS LTD [ ESLT ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Executive Vice President
2a. Foreign Trading Symbol
[ESLT]
3. Date of Earliest Transaction (Month/Day/Year)
04/09/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Ordinary shares, par value 1.00 NIS per share04/09/2026M9,000A$134.349,000IHeld in an employee benefit trust by IBI Trust Management(1)
Ordinary shares, par value 1.00 NIS per share04/09/2026F1,346(2)D$898.47(3)7,654IHeld in an employee benefit trust by IBI Trust Management(1)
Ordinary shares, par value 1.00 NIS per share04/09/2026S7,654D$887.4(3)0IHeld in an employee benefit trust by IBI Trust Management(1)
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Employee Stock Option (right to buy)$134.3404/09/2026M9,000 (4)07/07/2027Ordinary Shares9,000$00IHeld in an employee benefit trust by IBI Trust Management(1)
Explanation of Responses:
1. Mr. Delmar's options and the shares resulting from any exercise of those options were held in trust in accordance with the terms of his award agreement and the plan under which they were granted. Mr. Delmar was the sole beneficiary of the options.
2. These shares were retained by the Company in payment of the exercise price of the employee stock options exercised by Mr. Delmar. The amount retained by the Company was not in excess of the amount of the exercise price.
3. The price was paid in New Israeli Shekel. For purposes of this Form 4, a conversion rate of NIS 3.142 for each USD $1.00 was used, which was the closing foreign exchange rate on the date immediately preceding the date of the transaction.
4. These options vested and became exercisable in four tranches: 40% on April 7, 2023, 20% on April 7, 2024, 20% on April 7, 2025 and 20% on April 7, 2026.
/s/ Adi Pinchas Confino, Attorney-in-Fact04/10/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Elbit Systems (ESLT) report for Haim Daniel Delmar?

Elbit Systems reported that Executive Vice President Haim Daniel Delmar exercised options for 9,000 ordinary shares and then disposed of all resulting shares, with 1,346 retained by the company to pay the exercise price and 7,654 sold on the open market.

How many Elbit Systems (ESLT) options did Haim Daniel Delmar exercise?

Haim Daniel Delmar exercised employee stock options covering 9,000 Elbit Systems ordinary shares. These options were held in an employee benefit trust, had an exercise price of $134.34 per share, and were fully exercised, leaving no remaining options from this grant after the transaction.

At what prices were Haim Daniel Delmar’s Elbit Systems (ESLT) transactions executed?

The options were exercised at $134.34 per share to acquire 9,000 shares. Of those shares, 1,346 were retained by the company at $898.47 per share to pay the exercise price, and 7,654 shares were sold in the open market at $887.40 per share.

How many Elbit Systems (ESLT) shares did Haim Daniel Delmar sell after exercising options?

After exercising options into 9,000 Elbit Systems ordinary shares, Haim Daniel Delmar disposed of all of them. The company retained 1,346 shares as payment for the exercise price, and 7,654 shares were sold in an open-market transaction at $887.40 per share.

How were Haim Daniel Delmar’s Elbit Systems (ESLT) shares held before and after the Form 4 transactions?

Before the transactions, the options and resulting shares were held indirectly in an employee benefit trust managed by IBI Trust Management, with Delmar as sole beneficiary. After exercising and settling the options, the filing shows no remaining shares or options from this grant in the trust.

What does the F code mean in Haim Daniel Delmar’s Elbit Systems (ESLT) Form 4?

In this Form 4, the F code represents shares used to pay the option exercise price or tax liability. Footnotes explain that 1,346 Elbit Systems shares were retained by the company specifically as payment of the exercise price for the options exercised by Haim Daniel Delmar.