PLX Insider Report: Grant of Shares and Options to Sr. VP Naos Yaron

Rhea-AI Filing Summary

Naos Yaron, Sr. VP, Operations of Protalix BioTherapeutics (PLX), reported transactions dated 09/03/2025. He was awarded 25,000 restricted shares under the company's Amended and Restated 2006 Stock Incentive Plan, which vest in 12 equal quarterly installments and accelerate on a corporate transaction or change in control. The shares are registered in the name of a trustee to comply with Israeli tax rules.

On the same date he was granted a stock option to buy 50,000 shares at $1.64 per share exercisable through 09/03/2035 with a similar 12-quarter vesting schedule. The Form 4 also reports a sale of 7,112 shares and shows 225,817 shares beneficially owned following the transactions (held indirectly by a trust).

Positive

• Grant of 25,000 restricted shares under the company's amended 2006 Stock Incentive Plan
• Grant of a 50,000-share option at an exercise price of $1.64 with long-dated expiration (09/03/2035)
• Vesting schedules disclosed: both restricted shares and options vest in 12 equal quarterly installments
• Securities registered via trustee to qualify for Section 102 Israeli tax benefits

Negative

• Disposition of 7,112 shares reported on 09/03/2025

Insights

Financial Analyst

TL;DR: Insider received equity and options, modest sale; changes reflect compensation rather than market signal.

The awards—25,000 restricted shares and a 50,000-share option at $1.64—are typical executive compensation events tied to multi-quarter vesting and accelerated change-in-control protections. The post-transaction beneficial ownership of 225,817 shares (indirect) is disclosed. The simultaneous small sale of 7,112 shares appears routine and is outweighed by net incremental equity granted. No financial performance metrics or cash consideration were reported.

Corporate Governance Expert

TL;DR: Grant structure follows standard plan mechanics and Israeli tax registration; vesting and acceleration clauses disclosed.

The Form 4 clearly ties the restricted shares and options to the company's amended incentive plan and notes trustee registration for Section 102 tax treatment. Vesting in 12 equal quarterly installments with acceleration on corporate transaction is specified, which aligns with common governance practices. Disclosure is complete for these transactions; the filing does not disclose any unusual change-in-control provisions beyond acceleration.

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^*

Naos Yaron

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Sr. VP, Operations

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		25,000	A	(1)	225,817	I	By Trust(2)
Common Stock								7,112	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 Option (Right to Buy)	$1.64	09/03/2025		A		50,000		(3)	09/03/2035	Common Stock	50,000	$0	50,000(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 to an employee in connection with 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. The stock options are subject to accelerated vesting upon a corporate transaction or a change in control as described in the Plan.

4. Does not include (i) options to purchase 60,000 shares of common stock at an exercise price equal to $5.60 per share that expire on September 13, 2028, (ii) options to purchase 122,656 shares of common stock at an exercise price equal to $3.59 per share that expire on August 11, 2030 (iii) options to purchase 340,000 shares of common stock at an exercise price equal to $1.03 per share that expire on September 7, 2032 and (iv) options to purchase 100,000 shares of common stock at an exercise price equal to $1.10 per share that expire on September 23, 2034.

	/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 transactions did Naos Yaron report on Form 4 for PLX on 09/03/2025?

The report shows an award of 25,000 restricted shares, a grant of a 50,000-share option at $1.64 exercisable through 09/03/2035, and a sale of 7,112 shares.

How many shares does Naos Yaron beneficially own after the reported transactions?

The Form 4 discloses 225,817 shares beneficially owned following the reported transactions, held indirectly by a trust.

What are the vesting terms for the restricted shares and options?

Both the restricted shares and the options vest in 12 equal quarterly installments beginning on the grant date and include accelerated vesting upon a corporate transaction or change in control.

Why are the awarded shares registered in a trustee name?

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

Are there other outstanding options not included in the option count?

Yes. The filing excludes options to purchase 60,000, 122,656, 340,000, and 100,000 shares with various exercise prices and expirations, as detailed in the explanation.