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

Rhea-AI Filing Summary

Protalix BioTherapeutics insider grant and option award reported. Director Gwen A. Melincoff was awarded 7,500 restricted shares of common stock on 09/03/2025 under the company’s Amended and Restated 2006 Stock Incentive Plan; the restricted shares vest in 12 equal quarterly installments and are registered in the name of a trustee to qualify for Israeli tax benefits. On the same date she was granted 15,000 stock options with an exercise price of $1.64 that expire on 09/03/2035; the option shares vest in 12 equal quarterly installments. The reporting person’s indirect ownership following the restricted-share grant is 7,500 shares, and 15,000 underlying shares are held directly via the option grant.

Positive

• Director received equity (7,500 restricted shares and 15,000 options), which aligns management and shareholder interests
• Vesting is time-based in 12 equal quarterly installments, supporting retention incentives
• Option term extends to 09/03/2035, giving a long exercise horizon for potential value realization

Negative

• Grants create potential dilution if options are exercised, although the Form 4 does not quantify company-wide dilution
• Long vesting/exercise schedules delay definitive changes in ownership and taxable events

Insights

Corporate Governance Expert

TL;DR: Director received equity compensation that vests quarterly, aligning her interests with shareholders.

The Form 4 discloses routine equity awards to a director: 7,500 restricted shares and 15,000 stock options exercisable at $1.64 until 2035. Vesting in 12 equal quarterly installments spreads retention incentives over three years, which is a standard governance practice to encourage continued service. The trustee registration is an administrative requirement tied to Israeli tax treatment and does not change the economic beneficiary. This disclosure is material for ownership tracking but does not by itself indicate a change in corporate control or major dilution given the absolute sizes disclosed.

Securities/Compensation Analyst

TL;DR: The grants are time‑based compensation with long-dated option exercise horizon and modest absolute share counts.

The reporting shows a non-cash compensation event dated 09/03/2025: restricted stock and long-dated options with a $1.64 strike. The 10-year option term to 2035 provides a long exercise window; both equity awards vest quarterly over 12 periods, indicating retention-focused design. The filing lists other outstanding options by the reporting person, which provides context on aggregate potential dilution but does not quantify company-wide impact in this Form 4. For investors monitoring insider ownership changes, this is a standard disclosure of grant activity.

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^*

Melincoff Gwen A

(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)

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.

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.
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FAQ

What did Gwen A. Melincoff acquire according to the PLX Form 4?

The Form 4 reports acquisition of 7,500 restricted shares and 15,000 stock options (exercise price $1.64, expiry 09/03/2035).

When do the restricted shares and options vest for PLX director grants?

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

How are the restricted shares held for tax purposes in this PLX filing?

The restricted shares are registered in the name of a trustee to qualify for tax benefits under Section 102 of the Israeli Tax Ordinance.

What is the reporting date for the transactions in the PLX Form 4?

The transaction date reported is 09/03/2025 and the Form 4 was signed on 09/04/2025 by an attorney-in-fact.

Does the Form 4 list other existing option holdings for the reporting person?

Yes, it discloses additional outstanding options of 40,000 (exercise $3.55, expiry Jan 20, 2030), 50,000 (exercise $1.03, expiry Sep 7, 2032) and 61,676 (exercise $1.66, expiry Sep 29, 2033).