Rafael Holdings CFO has 2,027 shares withheld

Rafael Holdings, Inc. (RFL) Chief Financial Officer David Polinsky had 2,027 Class B shares withheld by the issuer for tax purposes upon vesting of Restricted Stock on September 21, 2026, at a reported price of $2.025 per share.

Rhea-AI Filing Summary

Rafael Holdings, Inc. (RFL) Chief Financial Officer David Polinsky had 2,027 Class B shares withheld by the issuer for tax purposes upon vesting of Restricted Stock on September 21, 2026, at a reported price of $2.025 per share. He reported 297,084 Class B shares following the transaction, consisting of 183,334 shares held directly and 113,750 unvested restricted shares. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Tax Withholding: 2,027 shares

Tax Withholding 1 txn

Insider Polinsky David

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Tax Withholding	Class B Common Stock, par value $.01 per share F1, F2	2,027	$2.025	$4K

Holdings After Transaction: Class B Common Stock, par value $.01 per share — 297,084 shares (Direct)

Footnotes (2)

1. F1. Represents shares withheld by the Issuer for tax purposes upon the vesting of Restricted Stock.
2. F2. Consists of 183,334 shares held directly and 113,750 unvested restricted shares that vest as follows: 6,250 on December 21, 2026; 10,000 on each of October 25, 2026 and October 25, 2027; 25,000 on each of January 13, 2027, January 13, 2028 and January 13, 2029; and 12,500 on January 30, 2030.

Key Figures

Class B shares withheld: 2,027 shares Reported transaction price: $2.025 per share Class B shares following transaction: 297,084 shares +2 more

5 metrics

Class B shares withheld 2,027 shares For tax purposes upon vesting on September 21, 2026

Reported transaction price $2.025 per share For the September 21, 2026 withholding

Class B shares following transaction 297,084 shares Reported after the September 21, 2026 transaction

Shares held directly 183,334 shares Part of the reported post-transaction holdings

Unvested restricted shares 113,750 shares Part of the reported post-transaction holdings

Key Terms

Restricted Stock, vesting, unvested restricted shares

3 terms

Restricted Stock financial

"upon the vesting of Restricted Stock"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

vesting financial

"upon the vesting of Restricted Stock"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

unvested restricted shares financial

"113,750 unvested restricted shares"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many RFL shares did Chief Financial Officer David Polinsky have withheld?

The issuer withheld 2,027 Class B shares for tax purposes upon vesting of Restricted Stock on September 21, 2026.

What was the reported price for the RFL share withholding?

The reported price was $2.025 per share for the 2,027 Class B shares withheld on September 21, 2026.

How many RFL Class B shares did David Polinsky report after the transaction?

He reported 297,084 Class B shares following the transaction: 183,334 shares held directly and 113,750 unvested restricted shares.

Was David Polinsky's RFL transaction reported under a Rule 10b5-1 plan?

No Rule 10b5-1 plan is reported. The shares were withheld by the issuer for tax purposes upon vesting of Restricted Stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/23/2026 - 02:37 PM Accepted by SEC EDGAR 09/23/2026 - 02:36 PM Learn about SEC filing dates

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^*

Polinsky David

(Last) (First) (Middle)

C/O RAFAEL HOLDINGS, INC.

520 BROAD ST

(Street)

NEWARK NEW JERSEY 07102

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Rafael Holdings, Inc. [ RFL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/21/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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
Class B Common Stock, par value $.01 per share	09/21/2026		F		2,027(1)	D	$2.025	297,084(2)	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

Explanation of Responses:

1. Represents shares withheld by the Issuer for tax purposes upon the vesting of Restricted Stock.

2. Consists of 183,334 shares held directly and 113,750 unvested restricted shares that vest as follows: 6,250 on December 21, 2026; 10,000 on each of October 25, 2026 and October 25, 2027; 25,000 on each of January 13, 2027, January 13, 2028 and January 13, 2029; and 12,500 on January 30, 2030.

	Joyce J. Mason, by Power of Attorney	09/23/2026
	** 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.
* Form 4: SEC 1474 (03-26)