Gilat (NASDAQ: GILT) CEO Adi Sfadia details PSUs, options and shares

Rhea-AI Filing Summary

Gilat Satellite Networks CEO Adi Sfadia filed an initial ownership report showing a mix of ordinary shares, performance stock units (PSUs), and stock options. The filing lists PSUs covering 112,500 and 22,500 underlying ordinary shares, stock options over 31,010 shares at an exercise price of $5.6800, and 45,000 ordinary shares held directly. Footnotes explain that the PSUs vest in four annual installments starting in 2026 based on performance goals, while the options vest over four years starting in 2024 and are exercisable on a net exercise basis.

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

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1. Name and Address of Reporting Person^*

Sfadia Adi

(Last) (First) (Middle)

21 YEGIA KAPAYIM STREET

(Street)

PETAH TIKVA

(City) (State) (Zip)

ISRAEL

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
GILAT SATELLITE NETWORKS LTD [ GILT ]

3a. Foreign Trading Symbol

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)
	CEO

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)
Ordinary Shares	45,000(1)	D

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)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Performance Stock Unit (PSU)	02/13/2026(2)	(2)	Ordinary Shares	112,500	$0	D
Performance Stock Unit (PSU)	03/16/2026(3)	(3)	Ordinary Shares	22,500	$0	D
Stock Option (Right to Buy)	02/13/2024(4)	02/13/2029	Ordinary Shares	31,010	$5.68	D

Explanation of Responses:

1. 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.

2. The performance stock units represent a contingent right to receive the Issuer's 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 Person's 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.

3. The performance stock units represent a contingent right to receive the Issuer's 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 Person's 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.

4. The Options vest in four equal annual installments (25% per year) commencing on 02/13/2024 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.

Remarks:

This Form 3 is being filed to report the Reporting Person beneficial ownership of securities of the Issuer as of the date the Reporting Person became subject to the reporting requirements of Section 16 of the Securities Exchange Act of 1934.

	Adi Sfadia by: Oppenheimer Israel, as Attorney-in-fact	03/18/2026
	** 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)

FAQ

What does the Form 3 filing show for Gilat (GILT) CEO Adi Sfadia?

The Form 3 shows Adi Sfadia’s initial equity holdings in Gilat, including ordinary shares, performance stock units, and stock options. It details amounts, exercise price, and vesting schedules, giving investors a clear snapshot of his current equity-based interests.

How many performance stock units does the Gilat (GILT) CEO report holding?

Adi Sfadia reports performance stock units tied to 112,500 and 22,500 underlying ordinary shares. These PSUs vest in four equal annual installments from 2026, contingent on performance goals and continued service, with unvested units remaining in the derivative holdings table.

What stock options are reported by the Gilat (GILT) CEO in this Form 3?

The CEO reports stock options over 31,010 ordinary shares with an exercise price of $5.6800 per share and expiration in 2029. These options vest in four equal annual installments beginning in 2024 and are structured for net share settlement upon exercise.

How many ordinary shares does Gilat (GILT) CEO Adi Sfadia hold directly?

The Form 3 lists 45,000 ordinary shares held directly by Adi Sfadia. In addition to these shares, he has unvested performance stock units and vested stock options, aligning a meaningful portion of his compensation with Gilat’s future share performance.

How do the Gilat (GILT) CEO’s performance stock units vest over time?

The performance stock units vest in four equal annual installments of 25% each, starting on 02/13/2026 and 03/16/2026 for the respective grants. Vesting requires continued service and the achievement of specified performance goals, affecting how many shares are ultimately issued.

What does net exercise mean for the Gilat (GILT) CEO’s stock options?

Net exercise means options are settled by issuing only the net number of shares after covering the exercise cost, rather than paying cash. According to the footnote, Adi Sfadia’s options will be exercised on this basis under the specific award agreement terms.