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
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.
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.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (Right to Buy) | 50,000 | $0.00 | -- |
| Grant/Award | Common Stock | 25,000 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (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. 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. 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. 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.
