Intercure director reports initial shareholdings

Intercure Ltd. director Michelson Lennie Grinbaum filed a Form 3 reporting his initial ownership in the company.

Rhea-AI Filing Summary

Intercure Ltd. director Michelson Lennie Grinbaum filed a Form 3 reporting his initial ownership in the company. He holds 6,743 Ordinary Shares directly, along with two blocks of stock options over additional Ordinary Shares.

These include options over 4,406 Ordinary Shares with a converted exercise price of $8.22 per share, granted on January 9, 2020 and fully vested as of January 9, 2023, expiring on January 9, 2030. He also holds options over 15,000 Ordinary Shares with a converted exercise price of $3.10 per share, granted on September 5, 2024, vesting quarterly over four years and expiring on September 5, 2028.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Michelson Lennie Grinbaum

Role Director

Type	Security	Shares	Price	Value
holding	Share options (right to buy)	--	--	--
holding	Share options (right to buy)	--	--	--
holding	Ordinary Shares	--	--	--

Holdings After Transaction: Share options (right to buy) — 19,406 contracts (Direct); Ordinary Shares — 6,743 shares (Direct)

Footnotes (2)

1. F1. The options were granted on January 9, 2020, and the current exercise price is NIS 25.146 per share. For purposes of this Form 3, the exercise price has been converted into U.S. dollars using an exchange rate of NIS 3.06 to USD $1.00 as of April 14, 2026, resulting in an exercise price of $8.22 per share. The options became fully vested as of January 9, 2023.
2. F2. The options were granted on September 5, 2024, and the current exercise price is NIS 9.50 per share. For purposes of this Form 3, the exercise price has been converted into U.S. dollars using an exchange rate of NIS 3.06 to USD $1.00 as of April 14, 2026, resulting in an exercise price of $3.1 per share. The options vest quarterly over four years from the date of grant.

Key Figures

Direct Ordinary Shares: 6,743 shares Options at $3.10: 15,000 shares Options at $8.22: 4,406 shares +3 more

6 metrics

Direct Ordinary Shares 6,743 shares Ordinary Shares held directly following Form 3

Options at $3.10 15,000 shares Share options (right to buy) with $3.10 exercise price, expiring September 5, 2028

Options at $8.22 4,406 shares Share options (right to buy) with $8.22 exercise price, expiring January 9, 2030

NIS to USD rate 3.06 NIS per $1.00 Exchange rate used to convert option exercise prices as of April 14, 2026

Original NIS price (2020 grant) NIS 25.146/share Exercise price before conversion for options granted January 9, 2020

Original NIS price (2024 grant) NIS 9.50/share Exercise price before conversion for options granted September 5, 2024

Key Terms

Share options (right to buy), exercise price, vested, Form 3, +1 more

5 terms

Share options (right to buy) financial

"security_title: "Share options (right to buy)""

exercise price financial

"resulting in an exercise price of $8.22 per share"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

vested financial

"The options became fully vested as of January 9, 2023"

Form 3 regulatory

"For purposes of this Form 3, the exercise price has been converted"

Form 3 is the initial public filing that officers, directors and large shareholders must submit to report their ownership of a company’s securities when they become insiders. It acts like an opening inventory sheet that gives investors a starting point to see who holds significant stakes and to spot later trades or potential conflicts of interest, helping assess insider confidence and transparency.

Ordinary Shares financial

"underlying_security_title: "Ordinary Shares""

Ordinary shares are a type of ownership stake in a company, giving shareholders a right to participate in the company’s profits and decision-making through voting. They are similar to owning a piece of a business, and their value can rise or fall based on the company's performance. Investors buy ordinary shares to potentially earn dividends and benefit from the company's growth over time.

FAQ

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

What does Michelson Lennie Grinbaum report owning in Intercure (INCR) on this Form 3?

He reports direct ownership of 6,743 Ordinary Shares of Intercure Ltd. He also discloses two stock option grants over additional Ordinary Shares, giving him rights to acquire more shares at preset exercise prices if he chooses to exercise them.

How many Intercure (INCR) stock options does Grinbaum hold and at what exercise prices?

He holds options over 15,000 Ordinary Shares at a converted exercise price of $3.10 per share and options over 4,406 Ordinary Shares at a converted exercise price of $8.22 per share, reflecting different grant dates and terms for each option award.

When do Michelson Lennie Grinbaum’s Intercure (INCR) stock options vest and expire?

Options over 4,406 shares were granted January 9, 2020, became fully vested by January 9, 2023, and expire January 9, 2030. Options over 15,000 shares were granted September 5, 2024, vest quarterly over four years and expire September 5, 2028, if not exercised earlier.

Does this Intercure (INCR) Form 3 show any recent buying or selling by Grinbaum?

No specific purchases or sales are indicated; the entries are reported as holdings with unknown transaction codes. Form 3 primarily discloses his existing beneficial ownership position, rather than documenting new open‑market transactions in the company’s securities.

How were the exercise prices on Intercure (INCR) options converted in this Form 3?

Exercise prices originally set in Israeli shekels were converted using an exchange rate of NIS 3.06 to USD $1.00 as of April 14, 2026. This produced U.S. dollar exercise prices of $8.22 and $3.10 per share for the respective option grants.

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

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Accepted by SEC EDGAR 04/20/2026 - 04:01 PM EDT Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Michelson Lennie Grinbaum

(Last) (First) (Middle)

85 MEDINAT HA-YEHUDIM STREET

(Street)

HERZLIYA 4676670

(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
Intercure Ltd. [ INCR ]

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
	Officer (give title below)		Other (specify below)

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	6,743	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
Share options (right to buy)(1)	03/31/2020	01/09/2030	Ordinary Shares	4,406	$8.22	D
Share options (right to buy)(2)	09/30/2024	09/05/2028	Ordinary Shares	15,000	$3.1	D

Explanation of Responses:

1. The options were granted on January 9, 2020, and the current exercise price is NIS 25.146 per share. For purposes of this Form 3, the exercise price has been converted into U.S. dollars using an exchange rate of NIS 3.06 to USD $1.00 as of April 14, 2026, resulting in an exercise price of $8.22 per share. The options became fully vested as of January 9, 2023.

2. The options were granted on September 5, 2024, and the current exercise price is NIS 9.50 per share. For purposes of this Form 3, the exercise price has been converted into U.S. dollars using an exchange rate of NIS 3.06 to USD $1.00 as of April 14, 2026, resulting in an exercise price of $3.1 per share. The options vest quarterly over four years from the date of grant.

	/s/ Grinbaum Lennie Michelson	04/20/2026
	** 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)