[Form 3] Galmed Pharmaceuticals Ltd. Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Galmed Pharmaceuticals Ltd. director and CEO Baharaff Allen has filed an initial statement of holdings, detailing his equity position in the company. He directly owns 103,047 ordinary shares and has an additional 18 ordinary shares beneficially owned through his spouse.

He also holds options to purchase ordinary shares, including grants exercisable for 1,222 shares at exercise prices of 599.4000, 921.6000, and 2080.8000 per share, expiring between 2028 and 2030, plus options over 1,805 shares at an exercise price of 0.0020 per share expiring in 2028.

In addition, he reports restricted share units, including 8,889 units that vest on August 7, 2026, 96,666 units vesting in four equal installments between May 12, 2026 and November 12, 2027, and 100,000 units vesting between August 26, 2026 and August 26, 2028, all subject to his continued service. The filing reflects holdings only and does not show new buy or sell transactions.

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^*

Baharaff Allen

(Last) (First) (Middle)

C/O MEITAR LAW OFFICES

16 ABBA HILLEL SILVER RD.

(Street)

RAMAT GAN 5250608

(City) (State) (Zip)

UNITED STATES

(Country)

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

3. Issuer Name and Ticker or Trading Symbol
Galmed Pharmaceuticals Ltd. [ GLMD ]

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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

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	103,047	D
Ordinary Shares	18	I	See Footnote(1)
Restricted Share Units	8,889(2)	D
Restricted Share Units	96,666(3)	D
Restricted Share Units	100,000(4)	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
Options to Purchase Ordinary Shares	11/10/2020	11/10/2030	Ordinary Shares	1,222	$599.4	D
Options to Purchase Ordinary Shares	12/17/2019	12/17/2029	Ordinary Shares	1,222	$921.6	D
Options to Purchase Ordinary Shares	07/10/2018	07/10/2028	Ordinary Shares	1,222	$2,080.8	D
Options to Purchase Ordinary Shares	12/30/2013	12/30/2028	Ordinary Shares	1,805	$0.002	D

Explanation of Responses:

1. Ordinary shares beneficially owned by Reporting Person's spouse.

2. These restricted share units vest on August 7, 2026, subject to the Reporting Person's continued service.

3. These restricted share units vest in four equal installments on each of May 12, 2026, November 12, 2026, May 12, 2027 and November 12, 2027, subject to the Reporting Person's continued service.

4. These restricted share units vest in accordance with the following vesting schedule: 1/3 shall vest on August 26, 2026 and the remaining portion shall vest in four equal installments on each of February 26, 2027, August 26, 2027, February 26, 2028 and August 26, 2028, subject to the Reporting Person's continued service.

	/s/ Allen Baharaff	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)