Sol-Gel Technologies (SLGL) insider files report on new share purchase

Rhea-AI Filing Summary

Opaleye Management Inc., reporting as a 10% owner of Sol-Gel Technologies Ltd., disclosed a small indirect purchase of ordinary shares. On 12/12/2025, 87 ordinary shares with a par value of NIS 1.00 per share were acquired at a reported price of $40. After this transaction, 371,795 ordinary shares are held indirectly through Opaleye, L.P. and 10,000 ordinary shares are held indirectly through a separately managed account. Opaleye Management Inc. states it may be deemed to beneficially own these securities through its roles with the fund and managed account, but disclaims beneficial ownership except to the extent of its pecuniary interest.

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^*

Opaleye Management Inc.

(Last) (First) (Middle)

ONE BOSTON PLACE, 26TH FLOOR

(Street)

BOSTON MA 02108

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Sol-Gel Technologies Ltd. [ SLGL ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
12/12/2025

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
Ordinary Shares, par value NIS 1.00 per share.	12/12/2025		P		87	A	$40	371,795	I	By Opaleye, L.P.(1)(3)
Ordinary Shares, par value NIS 1.00 per share.								10,000	I	By Managed Account(2)(3)

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 securities owned directly by Opaleye, L.P. (the "Fund"). As the investment manager of the Fund, Opaleye Management Inc. may be deemed to beneficially own the securities owned directly by the Fund.

2. Securities owned by a separately managed account (the "Managed Account"). As the portfolio manager of the Managed Account, Opaleye may be deemed to beneficially own the securities owned directly by the Managed Account.

3. Opaleye Management Inc. disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that Opaleye Management Inc. is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or for any other purpose.

	Opaleye Management Inc., By: /s/ James Silverman, President	12/16/2025
	** Signature of Reporting Person	Date
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FAQ

What insider transaction did Opaleye Management report for Sol-Gel Technologies (SLGL)?

Opaleye Management Inc. reported the acquisition of 87 ordinary shares of Sol-Gel Technologies Ltd. on 12/12/2025 at a reported price of $40.

How many Sol-Gel Technologies (SLGL) shares does Opaleye indirectly hold after this transaction?

Following the reported transaction, Opaleye-related entities indirectly hold 371,795 ordinary shares through Opaleye, L.P. and 10,000 ordinary shares through a separately managed account.

What is Opaleye Management Inc.'s relationship to Sol-Gel Technologies (SLGL)?

Opaleye Management Inc. filed the report as a 10% owner of Sol-Gel Technologies Ltd., indicating significant ownership in the company.

How are the Sol-Gel Technologies shares held by Opaleye structured?

The filing states that shares are owned directly by Opaleye, L.P. and by a separately managed account, with Opaleye Management Inc. acting as investment manager and portfolio manager, respectively.

Does Opaleye Management Inc. claim full beneficial ownership of the Sol-Gel (SLGL) shares?

The disclosure notes that Opaleye Management Inc. may be deemed to beneficially own the securities through its roles, but it disclaims beneficial ownership except to the extent of its pecuniary interest.

Was this Sol-Gel Technologies share purchase reported as a direct or indirect holding?

The 87-share purchase and the resulting holdings of 371,795 and 10,000 ordinary shares are all reported as indirect ownership, held through a fund and a managed account.