[Form 4] Protalix BioTherapeutics, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Forster Eliot, a director of Protalix BioTherapeutics, Inc. (PLX), reported transactions on 09/03/2025 showing an acquisition of equity awards. The filing discloses 7,500 restricted shares of common stock awarded under the companys amended 2006 Stock Incentive Plan, held indirectly through a trust and vesting in 12 equal quarterly installments commencing on the grant date. The reporting person also received 15,000 stock options with a $1.64 exercise price that were granted the same date; those options vest in 12 equal quarterly installments and expire on 09/03/2035. The Form 4 also notes existing options to buy 85,715 shares at $1.75 expiring 09/14/2033. The document is signed by an attorney-in-fact on 09/04/2025.

Positive

• Director received equity awards (7,500 restricted shares and 15,000 options), which aligns executive incentives with shareholder value over time
• Vesting schedule (12 equal quarterly installments) promotes retention and long-term alignment

Negative

• Vesting delays liquidity for the reporting person; shares and options vest over 12 quarters rather than immediately

Insights

Corporate Governance Expert

TL;DR: Director received equity and option grants with multi-quarter vesting, aligning long-term incentives with shareholders.

The Form 4 shows a routine grant of restricted shares and stock options to a director under the companys existing equity plan. Vesting in 12 equal quarterly installments spreads realization over three years, which is consistent with practices intended to retain executives and align interests with long-term performance. The indirect ownership via a trust is disclosed, maintaining transparency about beneficial ownership. No dispositions or immediate large-scale sales are reported.

Securities Analyst

TL;DR: Small-to-moderate insider grants disclosed; no immediate cash proceeds or large share sales reported.

The reported 7,500 restricted shares and 15,000 options are modest in absolute size relative to most public-company caps, and both vest over time rather than becoming immediately liquid. The filing also discloses previously granted options for 85,715 shares at $1.75 expiring in 2033, which provides additional context on insider exposure but does not change current outstanding share counts. There are no derivative dispositions or exercised options reported in this Form 4.

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

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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^*

Forster Eliot

(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

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		(2)	09/03/2035	Common Stock	15,000	$0	15,000(3)	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. The shares of common stock underlying the stock options shall vest in 12 equal quarterly installments commencing upon the date of grant.

3. Does not include options to purchase 85,715 shares of common stock at an exercise price equal to $1.75 per share that expire on September 14, 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.
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FAQ

What did Forster Eliot report on the PLX Form 4?

The filing reports the acquisition of 7,500 restricted shares held indirectly by trust and 15,000 stock options at a $1.64 exercise price, all dated 09/03/2025.

When do the restricted shares and options vest?

Both the restricted shares and the stock options vest in 12 equal quarterly installments commencing on the grant date.

What are the key terms of the reported options?

The reported options have a $1.64 exercise price and expire on 09/03/2035 according to the Form 4.

Are there other outstanding options disclosed?

Yes. The filing notes existing options to purchase 85,715 shares at an exercise price of $1.75 that expire on 09/14/2033.

Was the Form 4 signed and when?

The Form 4 was signed by an attorney-in-fact on 09/04/2025 as shown in the filing.