Protalix (PLX) Director Receives Restricted Shares and Options on 09/03/2025

Rhea-AI Filing Summary

Director Christian Elze acquired equity in Protalix BioTherapeutics (PLX) on 09/03/2025. The Form 4 reports an acquisition of 7,500 restricted shares of common stock that are registered in the name of a trustee to qualify for Israeli tax treatment, with the restricted shares vesting in 12 equal quarterly installments beginning on the grant date. The filing also shows an award of stock options to purchase 15,000 shares at an exercise price of $1.64, exercisable through 09/03/2035, with the options vesting in 12 equal quarterly installments commencing on the grant date. Following the reported transactions, the reporting person beneficially owns 7,500 common shares (indirect) and 15,000 options (direct).

Insights

Corporate Governance Expert

TL;DR: Director purchased equity and received options, aligning interests with shareholders through time‑vested awards.

The Form 4 documents time‑based equity grants to a director rather than immediate cash purchases or unusual transaction structures. The restricted shares and options vest in 12 equal quarterly installments, which ties potential ownership to continued service. The use of a trustee reflects compliance with local tax rules rather than an economic diversion of shares. For governance, these awards are routine for executive/director compensation and do not, by themselves, indicate material change to control or capital structure.

Securities Analyst

TL;DR: Insider award is a standard compensation event; limited immediate dilution and long exercise window for options.

The option grant of 15,000 shares at a $1.64 exercise price with a 10‑year term is typical post‑grant design and creates potential future dilution only upon exercise. The immediate beneficial ownership reported is modest (7,500 indirect shares and 15,000 options) relative to public float (not provided in this filing). There are no sales or dispositions reported and no other notable derivative transactions, suggesting this filing is a routine disclosure of compensation‑related awards.

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

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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^*

Elze Christian

(Last) (First) (Middle)

2 SNUNIT STREET

SCIENCE PARK

(Street)

CARMIEL L3 2161401

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Protalix BioTherapeutics, Inc. [ PLX ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/03/2025

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/03/2025		A		7,500	A	(1)	7,500	I	By Trust(2)

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Options (Right to Buy)	$1.64	09/03/2025		A		15,000		(3)	09/03/2035	Common Stock	15,000	$0	15,000	D

Explanation of Responses:

1. Represents restricted shares of common stock awarded to the Reporting Person under the Amended and Restated Protalix BioTherapeutics, Inc. 2006 Stock Incentive Plan, as amended (the "Plan"). The restricted shares vest in 12 equal quarterly installments commencing upon the date of grant.

2. To qualify for certain tax benefits under Section 102 of the Israeli Tax Ordinance, securities issued under the Plan must be registered in the name of a trustee.

3. The shares of common stock underlying the stock options shall vest in 12 equal quarterly installments commencing upon the date of grant.

	/s/ Joseph R. Magnas, Attorney-in-Fact	09/04/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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