Protalix (PLX) Form 4: Director awarded shares and long-dated options

Rhea-AI Filing Summary

Bar-Shalev Amos, a director of Protalix BioTherapeutics, Inc. (PLX), reported transactions on 09/03/2025. He was awarded 7,500 restricted shares under the companys Amended and Restated 2006 Stock Incentive Plan; those shares are registered in a trustee to meet Israeli Section 102 requirements and vest in 12 equal quarterly installments, with accelerated vesting on a corporate transaction or change in control. He also received a grant of 15,000 stock options with a $1.64 exercise price exercisable from 09/03/2025 and expiring 09/03/2035. Following the transactions the reporting person beneficially owns 7,500 shares indirectly and directly holds 15,000 option-based shares. The Form notes a separate disposition of 168 shares. The filing was signed by an attorney-in-fact on 09/04/2025.

Positive

• 7,500 restricted shares awarded under the companys amended 2006 Stock Incentive Plan
• 15,000 stock options granted with a $1.64 exercise price and a 2035 expiration, providing long-term incentive alignment
• Securities registered in trustee to qualify for Israeli Section 102 tax treatment, as disclosed

Negative

• None.

Insights

Financial Analyst

TL;DR: Director received equity and options, but amounts are modest relative to a public company and likely non-material to valuation.

The grant of 7,500 restricted shares and 15,000 options aligns with routine director/employee compensation under the company's long-standing equity plan. The restricted shares and options vest quarterly over three years, with customary accelerated vesting on a change in control. The exercise price of $1.64 establishes a cost basis for the options; the expiration in 2035 gives a long-term horizon. A small disposition of 168 shares was also reported. Overall, these are standard equity awards and disclosures with limited immediate impact on capital structure or liquidity.

Corporate Governance Expert

TL;DR: Compensation grant follows established plan mechanics and Israeli tax registration; disclosure appears complete and timely.

The restricted shares are registered in a trustee to satisfy Section 102 tax treatment, which is a common practice for Israeli-domiciled participants. Vesting schedules and accelerated vesting on corporate transactions are explicitly disclosed, reflecting standard change-in-control protections. The filing identifies the reporting person as a director and was executed by an attorney-in-fact, consistent with Form 4 procedures. No governance red flags are evident from the disclosed items.

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
Estimated average burden
hours per response:			0.5

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^*

Bar-Shalev Amos

(Last) (First) (Middle)

C/O PROTALIX BIOTHERAPEUTICS, INC.

2 SNUNIT STREET SCIENCE PARK, POB 455

(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)
Common Stock								168	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)
				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(4)	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 and are subject to accelerated vesting upon a corporate transaction or a change in control as described in the Plan.

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.

4. Does not include (i) options to purchase 40,000 shares of common stock at an exercise price equal to $3.55 per share that expire on January 20, 2030, (ii) options to purchase 50,000 shares of common stock at an exercise price equal to $1.03 per share that expire on September 7, 2032 and (iii) options to purchase 61,676 shares of common stock at an exercise price equal to $1.66 per share that expire on September 29, 2033.

	/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.
* 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.

FAQ

What did PLX director Bar-Shalev Amos receive on 09/03/2025?

He was awarded 7,500 restricted shares and granted 15,000 stock options with a $1.64 exercise price exercisable from 09/03/2025 and expiring 09/03/2035.

How do the restricted shares awarded to Amos vest?

The restricted shares vest in 12 equal quarterly installments commencing on the grant date, with accelerated vesting upon a corporate transaction or change in control.

Why are the shares registered in a trustee?

The shares are registered in the name of a trustee to qualify for certain tax benefits under Section 102 of the Israeli Tax Ordinance, as stated in the filing.

Did the reporting person sell any shares?

Yes. The Form reports a disposition of 168 shares (listed as 168 D).

Who signed the Form 4 and when?

The Form 4 was signed by Joseph R. Magnas, Attorney-in-Fact on 09/04/2025, as indicated on the filing.