Gilat CLO reports equity awards and 7,500 shares
Gilat Satellite Networks Chief Legal Officer Doron Kerbel reported his initial ownership in a Form 3.
Rhea-AI Filing Summary
Gilat Satellite Networks Chief Legal Officer Doron Kerbel reported his initial ownership in a Form 3. He directly holds 7,500 Ordinary Shares. He also holds performance stock units that may convert into up to 18,750 and 3,750 Ordinary Shares, which vest annually from February 13, 2026 and March 16, 2026 based on performance and continued service. In addition, he holds stock options over 12,500 and 17,500 Ordinary Shares at an exercise price of $6.11, vesting between September 19, 2024 and February 28, 2028 and expiring as late as February 28, 2030. These entries describe existing equity awards and shares rather than new market transactions.
Positive
- None.
Negative
- None.
Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
Kerbel Doron
Role
Chief Legal Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Performance Stock Unit (PSU) | -- | -- | -- |
| holding | Performance Stock Unit (PSU) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
Holdings After Transaction:
Performance Stock Unit (PSU) — 22,500 contracts (Direct);
Stock Option (Right to Buy) — 30,000 contracts (Direct);
Ordinary Shares — 7,500 shares (Direct)
Footnotes (5)
- F1. The shares reported herein were issued upon the vesting and settlement of previously granted performance stock units. Additional performance stock units held by the Reporting Person remain outstanding and are reported in Table II.
- F2. The performance stock units represent a contingent right to receive the Issuers ordinary shares upon the achievement of specified performance goals. The units vest in four equal annual installments (25% per year) commencing on 02/13/2026 subject to the Reporting Persons continued service through each vesting date. The number of shares ultimately issuable will depend on the level of performance achieved. The shares reported in Table II represent performance stock units that have not yet vested. Shares that have already vested and been issued are reported in Table I.
- F3. The performance stock units represent a contingent right to receive the Issuers ordinary shares upon the achievement of specified performance goals. The units vest in four equal annual installments (25% per year) commencing on 03/16/2026 subject to the Reporting Persons continued service through each vesting date. The number of shares ultimately issuable will depend on the level of performance achieved. The shares reported in Table II represent performance stock units that have not yet vested. Shares that have already vested and been issued are reported in Table I.
- F4. The Options vest 50% after two years (09/19/2024) and the remaining 50% vest in two equal annual installments thereafter, subject to the Reporting Person's continued service to the Company or its subsidiaries through each vesting date, and will be exercised on a net exercise basis pursuant to the terms of the award agreement.
- F5. The Options vest in four equal annual installments (25% per year) commencing on 02/28/2025 subject to the Reporting Person's continued service to the Company or its subsidiaries through each vesting date, and will be exercised on a net exercise basis pursuant to the terms of the award agreement.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider holdings did GILT Chief Legal Officer Doron Kerbel report on Form 3?
Doron Kerbel reported direct ownership of 7,500 Ordinary Shares, plus performance stock units and stock options tied to additional Ordinary Shares. These awards provide potential future equity, subject to vesting conditions and, for options, payment of the exercise price.
How many performance stock units does Doron Kerbel hold in Gilat Satellite Networks (GILT)?
He holds performance stock units linked to up to 18,750 and 3,750 Ordinary Shares. These units vest in four equal annual installments starting in 2026, and the final number of shares depends on achieving specified performance goals and continued service.
What stock options were reported for Doron Kerbel in the GILT Form 3 filing?
He reported stock options over 12,500 and 17,500 Ordinary Shares with a $6.11 exercise price. These options vest over several years starting in 2024 and 2025, and expire in 2028 and 2030, subject to continued service.
Do the performance stock units for GILT’s Chief Legal Officer vest immediately?
No, the performance stock units vest over time. They vest in four equal annual installments of 25% each, beginning on February 13, 2026 and March 16, 2026, and require both continued service and achievement of specified performance goals.
Are Doron Kerbel’s Gilat (GILT) stock options exercised on a cash or net basis?
The footnotes state his stock options will be exercised on a net exercise basis under the award agreements. Net exercise typically means fewer shares are issued after using some option value to cover the exercise cost and any applicable obligations.
AI-generated analysis. How Rhea-AI works. Not financial advice.
