Elbit EVP exercises options, sells 5,953 shares

Elbit Systems Executive Vice President Vered Yehuda exercised employee stock options for 7,000 ordinary shares at an exercise price of $134.34 per share.

Rhea-AI Filing Summary

Elbit Systems Executive Vice President Vered Yehuda exercised employee stock options for 7,000 ordinary shares at an exercise price of $134.34 per share. The options and resulting shares were held in an employee benefit trust managed by IBI Trust Management, with Mr. Yehuda as sole beneficiary.

Of the 7,000 shares received, 1,047 shares were retained by Elbit Systems as payment of the option exercise price, and the remaining 5,953 shares were sold in open-market transactions at $887.40 per share. Following these transactions, the trust-held position in these ordinary shares was reduced to zero, and no related derivative options from this grant remain outstanding.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 4 txns

Insider Vered Yehuda

Role Executive Vice President

Sold 5,953 shs ($5.28M)

Approx. gross sale proceeds $5.28M

Approx. exercise cost $940K

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (right to buy)	7,000	$0.00	$0.00
Exercise	Ordinary shares, par value 1.00 NIS per share	7,000	$134.34	$940K
Exercise Price or Tax Liability	Ordinary shares, par value 1.00 NIS per share	1,047	$898.47	$941K
Sale	Ordinary shares, par value 1.00 NIS per share	5,953	$887.40	$5.28M

Holdings After Transaction: Employee Stock Option (right to buy) — 2,000 contracts (Indirect, Held in an employee benefit trust by IBI Trust Management); Ordinary shares, par value 1.00 NIS per share — 0 shares (Indirect, Held in an employee benefit trust by IBI Trust Management)

Footnotes (4)

1. F1. Mr. Vered'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. Vered was the sole beneficiary of the options.
2. F2. These shares were retained by the Company in payment of the exercise price of the employee stock options exercised by Mr. Vered. The amount retained by the Company was not in excess of the amount of the exercise price.
3. F3. 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. F4. 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: 7,000 options Exercise price: $134.34 per share Shares withheld for exercise price: 1,047 shares +3 more

6 metrics

Options exercised 7,000 options Employee stock options exercised into ordinary shares on 2026-04-09

Exercise price $134.34 per share Exercise price of employee stock options

Shares withheld for exercise price 1,047 shares Shares retained by Elbit Systems as payment of option exercise price

Shares sold 5,953 shares Ordinary shares sold in open-market transactions

Sale price $887.40 per share Price for open-market sale of 5,953 ordinary shares

FX rate NIS 3.142 per $1.00 Conversion rate used for New Israeli Shekel amounts

Key Terms

Employee Stock Option, tax-withholding disposition, open-market sale, employee benefit trust, +1 more

5 terms

Employee Stock Option financial

"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.

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.

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.

Exercise or conversion of derivative security financial

"transaction_code_description": "Exercise or conversion of derivative security""

FAQ

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

What insider transaction did Elbit Systems (ESLT) report for Vered Yehuda?

Elbit Systems reported that Executive Vice President Vered Yehuda exercised employee stock options into 7,000 ordinary shares, then used 1,047 shares to pay the exercise price and sold the remaining 5,953 shares in open-market transactions, all held through an employee benefit trust.

How many Elbit Systems (ESLT) options did Vered Yehuda exercise and at what price?

Vered Yehuda exercised 7,000 employee stock options at an exercise price of $134.34 per share. These options converted into 7,000 ordinary shares held in an employee benefit trust before a portion was used to pay the exercise price and the rest was sold.

How many Elbit Systems (ESLT) shares did Vered Yehuda sell in this Form 4 filing?

After exercising options, 5,953 ordinary shares of Elbit Systems were sold in open-market transactions at $887.40 per share. All of these shares were held indirectly through an employee benefit trust managed by IBI Trust Management on behalf of Vered Yehuda.

What portion of Vered Yehuda’s Elbit Systems (ESLT) shares covered the option exercise cost?

Of the 7,000 shares received from the option exercise, 1,047 shares were retained by Elbit Systems as payment of the exercise price. The company kept only the amount needed to cover that cost, consistent with the Form 4 footnote disclosure.

How were Vered Yehuda’s Elbit Systems (ESLT) options and shares held structurally?

Both the options and resulting shares were held in an employee benefit trust managed by IBI Trust Management. According to the disclosure, the trust arrangement followed the award agreement and plan terms, and Vered Yehuda was the sole beneficiary of these options and shares.

What foreign exchange rate was used in Vered Yehuda’s Elbit Systems (ESLT) Form 4?

The Form 4 states that prices were paid in New Israeli Shekels and converted using a rate of NIS 3.142 for each $1.00. This rate reflected the closing foreign exchange rate on the day immediately before the transaction date.

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

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Accepted by SEC EDGAR 04/10/2026 - 07:32 AM Learn about SEC filing dates

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^*

Vered Yehuda

(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		7,000	A	$134.34	7,000	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		1,047(2)	D	$898.47(3)	5,953	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		5,953	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			7,000	(4)	07/07/2027	Ordinary Shares	7,000	$0	2,000	I	Held in an employee benefit trust by IBI Trust Management(1)

Explanation of Responses:

1. Mr. Vered'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. Vered 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. Vered. 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)