Were the NovoCure (NVCR) CEO’s share sales discretionary trades?

The filing states the sales were not discretionary. Footnotes explain the transactions were mandatory “sell to cover” sales required by NovoCure’s award agreements to fund tax withholding obligations related to vesting restricted stock units.

NovoCure (NVCR) CEO reports RSU vesting and tax-cover share sales

Filing Impact

(High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

NovoCure Ltd’s Chief Executive Officer Leonard Frank X reported a mix of share awards and sales. On February 28, 2026, performance-based restricted stock units vested into 18,621 ordinary shares at no cost to him. Around this vesting, he executed open-market sales totaling 16,966 ordinary shares on February 27 and March 2, 2026 at weighted average prices of about $13.66 and $13.49 per share. A footnote explains that these sales were mandated "sell to cover" transactions to satisfy tax withholding obligations under the company’s equity plans, rather than discretionary trades. Following these transactions, he directly holds 349,400 ordinary shares of NovoCure.

Insider Trade Summary

Net Seller: 16,966 shares ($230,585)

Net Sell 3 txns

Insider Leonard Frank X

Role Chief Executive Officer

Sold 16,966 shs ($231K)

Type	Security	Shares	Price	Value
Sale	Ordinary Shares	7,232	$13.493	$98K
Grant/Award	Ordinary Shares	18,621	$0.00	--
Sale	Ordinary Shares	9,734	$13.6638	$133K

Holdings After Transaction: Ordinary Shares — 349,400 shares (Direct)

Footnotes (1)

Represents the number of shares required to be sold by the reporting person to cover tax withholding obligations in connection with the vesting of Restricted Stock Units. This sale is mandated by the issuer's award agreement under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the reporting person. This transaction was executed in multiple trades at prices ranging from $13.45 USD to $13.97 USD; the price reported above reflects the weighted average sale price. Represents vesting of performance-based restricted stock units. This transaction was executed in multiple trades at prices ranging from $13.3126 USD to $13.70 USD; the price reported above reflects the weighted average sale price.

Form 4 Insider Transactions: What Each Field Means →

03/03/2026 - 04:09 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Leonard Frank X

(Last)

(First)

(Middle)

C/O NOVOCURE INC.

1550 LIBERTY RIDGE DRIVE, SUITE 115

(Street)

WAYNE

19087

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
NovoCure Ltd [ NVCR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/27/2026

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Ordinary Shares	02/27/2026		S		9,734⁽¹⁾	D	$13.6638⁽²⁾	338,011	D
Ordinary Shares⁽³⁾	02/28/2026		A		18,621	A	$0.00	356,632	D
Ordinary Shares	03/02/2026		S		7,232⁽¹⁾	D	$13.493⁽⁴⁾	349,400	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Represents the number of shares required to be sold by the reporting person to cover tax withholding obligations in connection with the vesting of Restricted Stock Units. This sale is mandated by the issuer's award agreement under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the reporting person.

2. This transaction was executed in multiple trades at prices ranging from $13.45 USD to $13.97 USD; the price reported above reflects the weighted average sale price.

3. Represents vesting of performance-based restricted stock units.

4. This transaction was executed in multiple trades at prices ranging from $13.3126 USD to $13.70 USD; the price reported above reflects the weighted average sale price.

Remarks:

	Steven Robbins, as attorney in fact for Leonard, Frank X.	03/03/2026
	** 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 4 (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.

Source: View Original Filing on SEC EDGAR

FAQ

What did NovoCure (NVCR) CEO Leonard Frank X report in this Form 4?

NovoCure CEO Leonard Frank X reported RSU vesting and related share sales. Performance-based restricted stock units vested into 18,621 ordinary shares, and he conducted mandated sales totaling 16,966 shares to cover tax withholding obligations tied to this equity compensation.

How many NovoCure (NVCR) shares vested for the CEO in this filing?

The Form 4 shows 18,621 ordinary shares vesting from performance-based restricted stock units. These shares came at no cash cost to the CEO and reflect earned equity compensation based on performance criteria under NovoCure’s incentive plans.

How many NovoCure (NVCR) shares did the CEO sell, and at what prices?

The CEO reported open-market sales of 16,966 ordinary shares. One transaction averaged $13.6638 per share and another averaged $13.4930 per share, both executed in multiple trades within disclosed price ranges around those weighted averages.

How many NovoCure (NVCR) shares does the CEO own after these transactions?

After the reported vesting and related tax-cover sales, the CEO directly owns 349,400 ordinary shares of NovoCure. This figure represents his direct beneficial ownership as of the most recent transaction date reported in the Form 4.

What type of equity award did the NovoCure (NVCR) CEO receive?

The CEO received performance-based restricted stock units that vested into ordinary shares. A footnote specifies the 18,621-share increase represents vesting of performance-based RSUs granted under NovoCure’s equity incentive plans, tied to achieving specified performance conditions.