Scinai Immunotherapeutics (SCNI) COO discloses major equity stake

Rhea-AI Filing Summary

Scinai Immunotherapeutics Ltd. Chief Operating Officer Mark Elad has filed an initial ownership report showing a substantial equity position. He directly holds 160,355,016 Ordinary Shares, which include large restricted share unit (RSU) awards granted in January 2024 and November 2025 that vest over multiple years subject to continued service.

He also holds American Depositary Shares representing 13,460,984 underlying Ordinary Shares, convertible at any time with no expiration date. The filing records holdings only and does not report any recent share purchases or sales.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Mark Elad

(Last) (First) (Middle)

C/O SCINAI IMMUNOTHERAPEUTICS LTD.

JERUSALEM BIOPARK, 2ND FLOOR

(Street)

JERUSALEM 9112002

(City) (State) (Zip)

ISRAEL

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Scinai Immunotherapeutics Ltd. [ SCNI ]

3a. Foreign Trading Symbol

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

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

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

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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Ordinary shares, no par value per share ("Ordinary Shares")(1)	160,355,016(2)(3)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
American Depositary Shares	(4)	(4)	Ordinary Shares	13,460,984	(4)	D

Explanation of Responses:

1. The Ordinary Shares are represented by American Depositary Shares, each of which currently represents four thousand Ordinary Shares.

2. Includes 20,355,016 Ordinary Shares that are represented by restricted share units ("RSUs") that were granted on January 25, 2024, of which 25% vested on the six-month anniversary thereof, 8.33% vested on the 12-month anniversary thereof, and 66.66% vest in two equal annual installments thereafter, subject to the Reporting Person's continued service through such dates. Each RSU represents a contingent right to receive one Ordinary Share upon vesting.

3. Includes 140,000,000 Ordinary Shares that are represented by RSUs that were granted on November 12, 2025, which vest in three equal annual installments thereafter, subject to the Reporting Person's continued service through such dates.

4. Represents approximately 3,365 American Depositary Share, which is convertible at any time into 13,460,984 Ordinary Shares, at the holder's election and has no expiration date.

Remarks:

Exhibit 24 - Power of Attorney.

	/s/ Amir Reichman, Attorney-in-Fact	03/26/2026
	** 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 5 (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 3: SEC 1473 (03-26)

FAQ

What does Scinai Immunotherapeutics (SCNI) Form 3 filing show for COO Mark Elad?

The Form 3 shows that COO Mark Elad holds a large equity stake in Scinai Immunotherapeutics. It details his direct ownership of Ordinary Shares, significant RSU grants, and American Depositary Shares convertible into additional Ordinary Shares, establishing his initial disclosed position as an insider.

How many Scinai (SCNI) Ordinary Shares does COO Mark Elad report owning?

Mark Elad reports direct ownership of 160,355,016 Ordinary Shares. This figure includes Ordinary Shares represented by restricted share units granted in January 2024 and November 2025, which vest over time contingent on his continued service with Scinai Immunotherapeutics.

What RSU awards are disclosed for Scinai (SCNI) COO Mark Elad in the Form 3?

The filing discloses RSUs covering 20,355,016 Ordinary Shares granted on January 25, 2024 and 140,000,000 Ordinary Shares granted on November 12, 2025. These RSUs vest in scheduled installments, subject to Mark Elad’s continued service with Scinai Immunotherapeutics.

How many Scinai (SCNI) shares are represented by Mark Elad’s American Depositary Shares?

The Form 3 notes that his American Depositary Shares represent 13,460,984 underlying Ordinary Shares. The ADSs are convertible into these Ordinary Shares at any time at the holder’s election and have no stated expiration date, providing flexible conversion.

Does the Scinai (SCNI) Form 3 indicate recent insider buying or selling by Mark Elad?

The Form 3 does not indicate any recent insider purchases or sales by Mark Elad. It functions as an initial ownership report, listing his existing holdings and equity-based awards rather than documenting new buy or sell transactions.

What role does Scinai (SCNI) insider Mark Elad hold and why is his Form 3 important?

Mark Elad serves as Chief Operating Officer of Scinai Immunotherapeutics. His Form 3 is important because it publicly establishes the scale and structure of his shareholdings and RSU awards, offering transparency into management’s equity alignment with shareholders.