Schedule 13G: Clal Reports 4,154,120 Gilat Shares, 7.3% Ownership

Rhea-AI Filing Summary

Clal Insurance Enterprises Holdings Ltd reported on Schedule 13G that it beneficially owns 4,154,120 ordinary shares of Gilat Satellite Networks Ltd, representing 7.3% of the company's outstanding ordinary shares based on 57,211,899 shares reported by the issuer as of July 16, 2025. Clal states that 70,000 of these shares are held for its own account and 4,084,120 are held for members of the public through provident, pension and insurance-related accounts managed by Clal subsidiaries that operate under independent management. The filing shows no sole voting or dispositive power and reports shared voting and dispositive power over the 4,154,120 shares. The filing includes a certification that the shares were not acquired to change or influence control of the issuer.

Positive

• Transparent disclosure of total holdings and allocation between proprietary and client-managed accounts
• Material minority stake of 7.3% is clearly reported, providing market transparency
• Certification that shares were not acquired to change or influence control, indicating passive intent

Negative

• No sole voting or dispositive power reported, indicating limited direct control over corporate actions

Insights

Financial Analyst

TL;DR: A disclosed 7.3% position is material in size but structured to reflect passive/agency holdings rather than control intent.

Clal reports a significant minority stake of 4,154,120 shares, while explicitly limiting its claimed beneficial ownership to 70,000 shares for its own account and attributing the remainder to accounts managed by subsidiaries with independent decision-making. For investors, this indicates concentrated economic exposure without asserted control or sole voting authority. The position size could be relevant to market liquidity and block-trade dynamics, but the filing's certifications and the allocation to third-party managed accounts suggest limited corporate governance influence by Clal.

Corporate Governance Expert

TL;DR: Disclosure clarifies voting and dispositive arrangements and disclaims control, reducing governance risk concerns.

The Schedule 13G clearly separates Clal's direct proprietary holding of 70,000 shares from 4,084,120 shares held for public clients via subsidiaries that claim independent voting and investment authority. The absence of sole voting or dispositive power and the certification that the stake is not held to influence control are consistent with a passive investor profile. From a governance perspective, this reduces the likelihood of immediate activist engagement, although the aggregate 7.3% stake remains large enough to attract attention if circumstances change.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Gilat Satellite Networks Ltd

(Name of Issuer)

Ordinary Shares, NIS 0.20 par value

(Title of Class of Securities)

M51474118

(CUSIP Number)

09/17/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. M51474118

1

Names of Reporting Persons

Clal Insurance Enterprises Holdings Ltd

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ISRAEL

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,154,120.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,154,120.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,154,120.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.3 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: With regard to Rows (6), (8) and (9), please see Item 4. Row (11) is based on 57,211,899 Ordinary Shares issued and outstanding as of July 16, 2025 (as reported by the Issuer in its Report on Form 6-K filed with the Securities and Exchange Commission on July 17, 2025).

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Gilat Satellite Networks Ltd
(b)	Address of issuer's principal executive offices: Gilat House, Yegia Kapayim Street, Daniv Park, Kiryat Arye, Petah Tikva, Israel, 4913020
Item 2.
(a)	Name of person filing: Clal Insurance Enterprises Holdings Ltd. ("Clal")
(b)	Address or principal business office or, if none, residence: 36 Raul Walenberg St., Tel Aviv 66180, Israel
(c)	Citizenship: Israel
(d)	Title of class of securities: Ordinary Shares, NIS 0.20 par value
(e)	CUSIP No.: M51474118
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Of the 4,154,120 Ordinary Shares reported in this Statement as beneficially owned by the Reporting Person, (i) 70,000 Ordinary Shares are beneficially held for its own account; and (ii) 4,084,120 Ordinary Shares are held for members of the public through, among others, provident funds and/or pension funds and/or insurance policies, which are managed by subsidiaries of Clal, which subsidiaries operate under independent management and make independent voting and investment decisions. Consequently, this Statement shall not be construed as an admission by Clal, that it is the beneficial owner of more than 70,000 Ordinary Shares covered by this Statement.
(b)	Percent of class: See Row (11) of the cover page of the Reporting Person above.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: See Row (6) of the cover page of the Reporting Person above and note in Item 4 above.
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: See Row (8) of the cover page of the Reporting Person above and note in Item 4 above.
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Clal Insurance Enterprises Holdings Ltd

Signature:	/s/ Eran Czerninski
Name/Title:	Eran Czerninski/Authorized Signatory
Date:	09/22/2025

Signature:	/s/ Barak Benski
Name/Title:	Barak Benski/Authorized Signatory
Date:	09/22/2025

FAQ

How many Gilat (GILT) shares does Clal Insurance report owning?

Clal reports beneficial ownership of 4,154,120 ordinary shares of Gilat Satellite Networks Ltd.

What percentage of Gilat does Clal's reported holding represent?

The reported holding represents 7.3% of Gilat's outstanding ordinary shares, based on 57,211,899 shares outstanding as of July 16, 2025.

How many of the reported shares are owned directly by Clal?

70,000 shares are beneficially held for Clal's own account; the remainder are held for public clients via subsidiaries.

Does Clal claim voting or dispositive control over the shares?

Clal reports 0 sole voting and dispositive power and shared voting and dispositive power over the 4,154,120 shares.

Did Clal state an intent to influence control of Gilat?

No. The filing includes a certification that the securities were not acquired to change or influence control of the issuer.