STOCK TITAN

[Form 3] InspireMD, Inc. Initial Statement of Beneficial Ownership

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
3

InspireMD director Danny L. Dearen reported beneficial ownership of 58,017 shares of the company's common stock, comprised of 2,000 shares purchased on the open market and 56,017 restricted shares that are stated to vest on September 16, 2026 subject to continued service, with a provision that unvested shares will fully vest if he is not reelected or not nominated for reelection at the 2026 annual meeting. The filing also shows options to purchase 28,206 shares of common stock at an exercise price of $2.41. The option entry lists an exercisable date of 09/16/2035 in the table while the explanation states the options vest on 09/16/2026, creating an inconsistency in exercisability timing in the filing.

Il direttore di InspireMD, Danny L. Dearen, ha riportato una proprietà beneficiaria di 58.017 azioni ordinarie della società, costituite da 2.000 azioni acquistate sul mercato e 56.017 azioni vincolate che si presume maturino il 16 settembre 2026, soggette a un servizio continuo, con una disposizione secondo cui le azioni non ancora vestite matureranno integralmente se non dovesse essere rieletto o non dovesse essere nominato per la rielezione all’assemblea annuale del 2026. La dichiarazione mostra inoltre opzioni per l’acquisto di 28.206 azioni ordinarie a un prezzo d’esercizio di $2,41. L’entrata delle opzioni indica una data di esercizio 09/16/2035 nella tabella, mentre la spiegazione indica che le opzioni vestono il 09/16/2026, creando un’incongruenza nel timing di esercizio nel documento.

El director de InspireMD, Danny L. Dearen, informó una tenencia beneficiosa de 58.017 acciones ordinarias de la empresa, compuestas por 2.000 acciones compradas en el mercado y 56.017 acciones restringidas que se estiman vencerán/otorgarán derechos el 16 de septiembre de 2026 sujeto a la continuidad del servicio, con una disposición de que las acciones no consolidadas se harán totalmente efectivas si no es reelegido o no es nominado para la reelegación en la asamblea anual de 2026. La declaración también muestra opciones para comprar 28.206 acciones de acciones ordinarias a un precio de ejercicio de $2.41. La entrada de las opciones indica una fecha ejercitable de 16/09/2035 en la tabla, mientras que la explicación señala que las opciones vencen/consultan el vesting el 16/09/2026, creando una inconsistencia en el momento de ejercicio en la declaración.

InspireMD의 이사인 Danny L. Dearen은 보통주 58,017주에 대한 유익한 소유권을 보고했으며, 이 중 시장가로 매수한 2,000주제한 주식 56,017주2026년 9월 16일에 서비스 지속 여부에 따라 취득(vesting)될 예정이며, 2026년 연례 주주총회에서 재선되거나 재선 후보로 지명되지 않으면 취득하지 않은 주식이 전액 취득되는 조항이 있습니다. 또한 28,206주를 매입할 수 있는 옵션이 있으며 행사 가격은 $2.41입니다. 옵션 항목에는 표에서 2035년 9월 16일의 행사 가능 날짜가 기재되어 있지만 설명에는 옵션이 2026년 9월 16일에 취득(vest)된다고 명시되어 있어, 신고서의 행사 시점에 불일치가 발생합니다.

Le directeur d’InspireMD, Danny L. Dearen, a déclaré une propriété bénéficiaire de 58 017 actions ordinaires de la société, constituées de 2 000 actions achetées sur le marché et de 56 017 actions restreintes qui seraient acquises le 16 septembre 2026, sous réserve d’un maintien de l’emploi, avec une disposition selon laquelle les actions non acquises s’acquerront intégralement s’il n’est pas réélu ou n’est pas nommé pour une réélection à l’assemblée annuelle 2026. Le dossier montre également des options d’achat de 28 206 actions ordinaires à un prix d’exercice de $2,41. L’entrée des options indique une date d’exercice 16/09/2035 dans le tableau, tandis que l’explication affirme que les options se vestent le 16/09/2026, créant une incohérence dans le calendrier d’exercice dans le dossier.

Der InspireMD-Direktor Danny L. Dearen meldete eine Beneficial Ownership von 58.017 Aktien der Stammaktien des Unternehmens, bestehend aus 2.000 am Markt gekauften Aktien und 56.017 eingeschränkten Aktien, die voraussichtlich am 16. September 2026 unter Vorbehalt der Fortführung des Dienstverhältnisses vesten, mit einer Bestimmung, dass unvervestete Aktien vollständig vesten, wenn er nicht wieder gewählt wird oder nicht für eine Wiederwahl bei der Jahresversammlung 2026 nominiert wird. Die Einreichung zeigt außerdem Optionsrechte zum Kauf von 28.206 Aktien der Stammaktien zu einem Ausübungspreis von $2,41. Der Optionshinweis listet ein Ausübungsdatum von 16.09.2035 in der Tabelle, während die Erläuterung besagt, dass die Optionen am 16.09.2026 vesten, was eine Inkonsistenz im Ausübungszeitpunkt in der Einreichung erzeugt.

أعلن مدير InspireMD، داني ل. دين عن امتلاك ذي فائدة من 58,017 سهمًا من أسهم الشركة العادية، ويتكون من 2,000 سهمًا اشترتها الشركة في السوق المفتوحة و56,017 سهمًا مقيدًا من المفترض أن يكتسبوا حق الملكية في تاريخ 16 سبتمبر 2026 رهناً باستمرار الخدمة، مع شرط أن الأسهم غير المكتسبة ستكتسب بالكامل إذا لم يتم إعادة انتخابه أو لم يتم ترشيحه لإعادة الانتخاب في اجتماع الجمعية العامة لعام 2026. كما يظهر ضمن الملف خيارات شراء 28,206 سهمًا من الأسهم العادية بسعر تمارين قدره $2.41. وتذكر إدخال الخيار تاريخ ممارسة 16/09/2035 في الجدول بينما تذكر الشرح أن الخيارات تتجدد/تستحق في 16/09/2026، مما يخلق تعارضًا في توقيت التمرين ضمن الملف.

InspireMD 董事 Danny L. Dearen 报告了对公司普通股的受益所有权,共计 58,017 股,其中包含 在公开市场购买的 2,000 股56,017 股受限制股票,据称将于 2026 年 9 月 16 日归属,需持续任职,若他在 2026 年年度股东大会未当选连任或未被提名连任,则未归属的股票将全部归属。 filing 还显示 购买 28,206 股普通股的期权,行权价为 $2.41。期权条目在表格中列出可行使日期为 2035-09-16,而解释却称期权在 2026-09-16 授予(vest),两者在行使时点上存在不一致。

Positive
  • Director ownership disclosed: 58,017 common shares reported, including open-market purchase and restricted shares
  • Equity alignment: Restricted shares and options link director interests with shareholders through vesting and acceleration provisions
Negative
  • Inconsistent exercisability/vesting dates: Table lists options exercisable 09/16/2035 while the explanation states vesting on 09/16/2026, creating ambiguity
  • No expiration date provided for options in explanation: The filing does not reconcile exercisable and expiration timelines in the narrative

Insights

TL;DR: Director Dearen holds common stock and options with vesting tied to continued service and board reelection conditions; filing is routine but contains a date discrepancy.

The filing documents a director-level equity stake that aligns management and director incentives with shareholders through restricted stock and stock options. The restricted shares and options include a standard continued-service vesting schedule and acceleration on failure to be nominated or reelected, which is a common retention/transition provision. The inconsistent exercisable date for the options between the table (09/16/2035) and the explanatory text (vesting on 09/16/2026) should be clarified by an amendment to avoid confusion about when the options can be exercised.

TL;DR: Form 3 correctly reports initial beneficial ownership amounts and option terms, but the conflicting dates warrant a corrective filing for accuracy.

As an initial Section 16 filing, this Form 3 discloses direct ownership of 58,017 shares and options for 28,206 shares at $2.41 exercise price. The disclosure includes customary vesting tied to continued service and accelerated vesting if the director is not nominated or reelected. From a compliance perspective the material facts are reported, however the mismatch between the table's stated exercisable date and the explanation's vesting date creates ambiguity that could be addressed by an amended Form 3 to ensure the record accurately reflects exercisability and vesting timelines.

Il direttore di InspireMD, Danny L. Dearen, ha riportato una proprietà beneficiaria di 58.017 azioni ordinarie della società, costituite da 2.000 azioni acquistate sul mercato e 56.017 azioni vincolate che si presume maturino il 16 settembre 2026, soggette a un servizio continuo, con una disposizione secondo cui le azioni non ancora vestite matureranno integralmente se non dovesse essere rieletto o non dovesse essere nominato per la rielezione all’assemblea annuale del 2026. La dichiarazione mostra inoltre opzioni per l’acquisto di 28.206 azioni ordinarie a un prezzo d’esercizio di $2,41. L’entrata delle opzioni indica una data di esercizio 09/16/2035 nella tabella, mentre la spiegazione indica che le opzioni vestono il 09/16/2026, creando un’incongruenza nel timing di esercizio nel documento.

El director de InspireMD, Danny L. Dearen, informó una tenencia beneficiosa de 58.017 acciones ordinarias de la empresa, compuestas por 2.000 acciones compradas en el mercado y 56.017 acciones restringidas que se estiman vencerán/otorgarán derechos el 16 de septiembre de 2026 sujeto a la continuidad del servicio, con una disposición de que las acciones no consolidadas se harán totalmente efectivas si no es reelegido o no es nominado para la reelegación en la asamblea anual de 2026. La declaración también muestra opciones para comprar 28.206 acciones de acciones ordinarias a un precio de ejercicio de $2.41. La entrada de las opciones indica una fecha ejercitable de 16/09/2035 en la tabla, mientras que la explicación señala que las opciones vencen/consultan el vesting el 16/09/2026, creando una inconsistencia en el momento de ejercicio en la declaración.

InspireMD의 이사인 Danny L. Dearen은 보통주 58,017주에 대한 유익한 소유권을 보고했으며, 이 중 시장가로 매수한 2,000주제한 주식 56,017주2026년 9월 16일에 서비스 지속 여부에 따라 취득(vesting)될 예정이며, 2026년 연례 주주총회에서 재선되거나 재선 후보로 지명되지 않으면 취득하지 않은 주식이 전액 취득되는 조항이 있습니다. 또한 28,206주를 매입할 수 있는 옵션이 있으며 행사 가격은 $2.41입니다. 옵션 항목에는 표에서 2035년 9월 16일의 행사 가능 날짜가 기재되어 있지만 설명에는 옵션이 2026년 9월 16일에 취득(vest)된다고 명시되어 있어, 신고서의 행사 시점에 불일치가 발생합니다.

Le directeur d’InspireMD, Danny L. Dearen, a déclaré une propriété bénéficiaire de 58 017 actions ordinaires de la société, constituées de 2 000 actions achetées sur le marché et de 56 017 actions restreintes qui seraient acquises le 16 septembre 2026, sous réserve d’un maintien de l’emploi, avec une disposition selon laquelle les actions non acquises s’acquerront intégralement s’il n’est pas réélu ou n’est pas nommé pour une réélection à l’assemblée annuelle 2026. Le dossier montre également des options d’achat de 28 206 actions ordinaires à un prix d’exercice de $2,41. L’entrée des options indique une date d’exercice 16/09/2035 dans le tableau, tandis que l’explication affirme que les options se vestent le 16/09/2026, créant une incohérence dans le calendrier d’exercice dans le dossier.

Der InspireMD-Direktor Danny L. Dearen meldete eine Beneficial Ownership von 58.017 Aktien der Stammaktien des Unternehmens, bestehend aus 2.000 am Markt gekauften Aktien und 56.017 eingeschränkten Aktien, die voraussichtlich am 16. September 2026 unter Vorbehalt der Fortführung des Dienstverhältnisses vesten, mit einer Bestimmung, dass unvervestete Aktien vollständig vesten, wenn er nicht wieder gewählt wird oder nicht für eine Wiederwahl bei der Jahresversammlung 2026 nominiert wird. Die Einreichung zeigt außerdem Optionsrechte zum Kauf von 28.206 Aktien der Stammaktien zu einem Ausübungspreis von $2,41. Der Optionshinweis listet ein Ausübungsdatum von 16.09.2035 in der Tabelle, während die Erläuterung besagt, dass die Optionen am 16.09.2026 vesten, was eine Inkonsistenz im Ausübungszeitpunkt in der Einreichung erzeugt.

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*
Dearen Danny L.

(Last) (First) (Middle)
C/O INSPIREMD, INC.
6303 WATERFORD DISTRICT DRIVE, SUITE 215

(Street)
MIAMI FL 33126

(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
09/16/2025
3. Issuer Name and Ticker or Trading Symbol
InspireMD, Inc. [ NSPR ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
5. If Amendment, Date of Original Filed (Month/Day/Year)
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)
Common Stock 58,017(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
Options to purchase common stock (right to buy) (2) 09/16/2035 Common Stock 28,206 $2.41 D
Explanation of Responses:
1. These shares of common stock represent (1) 2,000 shares of common stock purchased by the Reporting Person on the open market and (2) 56,017 shares of restricted stock, which vest on September 16, 2026, subject to the Reporting Person's continued service, provided that in the event that the Reporting Person is either (i) not reelected as a director at the Company's 2026 annual meeting of stockholders, or (ii) not nominated for reelection as a director at the Company's 2026 annual meeting of stockholders, any unvested shares of restricted stock will vest in full and become exercisable on the date of the decision not to reelect or nominate him (as applicable).
2. The options vest and become exercisable on September 16, 2026, subject to the Reporting Person's continued service, provided that in the event that the Reporting Person is either (i) not reelected as a director at the Company's 2026 annual meeting of stockholders, or (ii) not nominated for reelection as a director at the Company's 2026 annual meeting of stockholders, any unvested options will vest in full and become exercisable on the date of the decision not to reelect or nominate him (as applicable).
/s/ Danny L. Dearen 09/23/2025
** 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.

FAQ

What did Danny L. Dearen report on his Form 3 for InspireMD (NSPR)?

The Form 3 reports 58,017 shares of common stock (2,000 purchased and 56,017 restricted) and options to purchase 28,206 shares at an exercise price of $2.41.

When do the restricted shares and options vest according to the filing?

The restricted shares are stated to vest on September 16, 2026 subject to continued service; the explanatory text also states the options vest on September 16, 2026, but the table lists an exercisable date of 09/16/2035.

Are there any acceleration provisions for vesting disclosed?

Yes. The filing states unvested restricted shares and options will vest in full if the reporting person is not reelected or not nominated for reelection at the Company's 2026 annual meeting, with vesting on the decision date.

What is the exercise price for the reported options?

The options to purchase common stock have an exercise price of $2.41 per share.

Does the Form 3 indicate whether the ownership is direct or indirect?

The Form 3 indicates direct (D) ownership for both the reported common stock and the options.
Inspiremd

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