Elbit Systems (ESLT) EVP exercises 10,000 options and sells 8,504 shares

Rhea-AI Filing Summary

Elbit Systems executive Oren Yaacov Sabag, an Executive Vice President, exercised 10,000 employee stock options on April 9, 2026 at an exercise price of $134.34 per share, receiving an equal number of ordinary shares held in an employee benefit trust.

Of these shares, 1,496 were retained by Elbit Systems as payment of the option exercise price, while the remaining 8,504 shares were sold in the open market at $887.40 per share. Following these transactions, the trust held no shares from this option grant. The options had vested in four tranches between April 7, 2023 and April 7, 2026.

Insider Trade Summary

Net Seller: 8,504 shares ($7,546,450)

Net Sell 4 txns

Insider Sabag Oren Yaacov

Role Executive Vice President

Sold 8,504 shs ($7.55M)

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (right to buy)	10,000	$0.00	--
Exercise	Ordinary shares, par value 1.00 NIS per share	10,000	$134.34	$1.34M
Tax Withholding	Ordinary shares, par value 1.00 NIS per share	1,496	$898.47	$1.34M
Sale	Ordinary shares, par value 1.00 NIS per share	8,504	$887.40	$7.55M

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 — 10,000 shares (Indirect, Held in an employee benefit trust by IBI Trust Management)

Footnotes (1)

1. Mr. Sabag'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. Sabag 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. Sabag. 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.

Key Figures

Options exercised: 10,000 options Exercise price: $134.34 per share Shares sold: 8,504 shares +4 more

7 metrics

Options exercised 10,000 options Employee stock options exercised on April 9, 2026

Exercise price $134.34 per share Exercise or conversion price for 10,000 options

Shares sold 8,504 shares Ordinary shares sold in open market after exercise

Sale price $887.40 per share Price for 8,504 ordinary shares sold

Shares withheld 1,496 shares Retained by company to pay exercise price and obligations

FX rate NIS 3.142 per $1.00 Foreign exchange rate used to report transaction prices

Option expiration July 7, 2027 Stated expiration date for the option grant

Key Terms

Employee Stock Option, tax-withholding disposition, employee benefit trust, exercise or conversion of derivative security, +1 more

5 terms

Employee Stock Option financial

"security_title: "Employee Stock Option (right to buy)""

An employee stock option is a promise that lets a worker buy company shares later at a predetermined price, often after they stay for a certain period or meet performance goals — think of it like a coupon that locks in today's price for a future purchase. It matters to investors because options align employees’ incentives with company performance, can increase the number of shares outstanding (dilution) when exercised, and represent a compensation cost that affects reported profits and shareholder value.

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""

beneficiary financial

"Mr. Sabag was the sole beneficiary of the options."

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED 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^*

Sabag Oren Yaacov

(Last) (First) (Middle)

ADVANCED TECHNOLOGY CENTER PO BOX 539

(Street)

HAIFA 3100401

(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)

	Director		10% Owner
X	Officer (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)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Ordinary shares, par value 1.00 NIS per share	04/09/2026		M		10,000	A	$134.34	10,000	I	Held in an employee benefit trust by IBI Trust Management(1)
Ordinary shares, par value 1.00 NIS per share	04/09/2026		F		1,496(2)	D	$898.47(3)	8,504	I	Held in an employee benefit trust by IBI Trust Management(1)
Ordinary shares, par value 1.00 NIS per share	04/09/2026		S		8,504	D	$887.4(3)	0	I	Held 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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (right to buy)	$134.34	04/09/2026		M			10,000	(4)	07/07/2027	Ordinary Shares	10,000	$0	0	I	Held in an employee benefit trust by IBI Trust Management(1)

Explanation of Responses:

1. Mr. Sabag'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. Sabag 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. Sabag. 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-Fact	04/10/2026
	** 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 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)

FAQ

What did Elbit Systems (ESLT) executive Oren Sabag report in this Form 4?

Oren Yaacov Sabag reported exercising 10,000 employee stock options into ordinary shares, then settling the exercise price partly in shares and selling the remaining 8,504 shares in the open market on April 9, 2026, through an employee benefit trust.

How many Elbit Systems (ESLT) options did Oren Sabag exercise and at what price?

He exercised 10,000 employee stock options at an exercise price of $134.34 per share. The options converted into 10,000 ordinary shares held in an employee benefit trust, reflecting compensation previously granted under a company equity plan with multi-year vesting.

How many Elbit Systems (ESLT) shares did Oren Sabag sell and at what price?

After the option exercise, 8,504 ordinary shares were sold in the open market at $887.40 per share. These sales were executed from shares held in an employee benefit trust, leaving no shares from this specific option grant after the transactions.

What portion of Oren Sabag’s Elbit Systems (ESLT) shares covered taxes or exercise costs?

A total of 1,496 shares were retained by Elbit Systems to pay the option exercise price and related obligations. The company noted the amount retained in shares was not more than the exercise price, characterizing this as a tax and cost-settlement mechanism.

How were foreign exchange rates handled in Oren Sabag’s Elbit Systems (ESLT) Form 4?

The transaction prices were paid in New Israeli Shekels, but the Form 4 used a conversion rate of NIS 3.142 for each $1.00. This rate reflected the closing foreign exchange level on the trading day immediately before the reported transactions.

When did the Elbit Systems (ESLT) options held by Oren Sabag vest?

The options vested in four stages: 40% on April 7, 2023, then 20% each on April 7, 2024, April 7, 2025, and April 7, 2026. This multi-year vesting schedule links the equity awards to ongoing executive service and performance over time.