Opaleye Management Inc. (SLGL) reports open-market Sol-Gel share purchase

Rhea-AI Filing Summary

Opaleye Management Inc., a more than ten percent owner of Sol-Gel Technologies Ltd., reported an indirect open-market purchase of 291 ordinary shares of Sol-Gel on February 13, 2026 at a price of $63.00 per share, through Opaleye, L.P.

After this transaction, Opaleye, L.P. held 450,335 ordinary shares, and a separately managed account overseen by Opaleye held 10,000 ordinary shares. Opaleye Management Inc. disclaims beneficial ownership of these shares 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)
02/13/2026

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.	02/13/2026		P		291	A	$63	450,335	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	02/18/2026
	** 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).
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FAQ

What did Opaleye Management Inc. report in this Sol-Gel (SLGL) Form 4?

Opaleye Management Inc. reported an indirect open-market purchase of 291 Sol-Gel ordinary shares on February 13, 2026, at $63.00 per share through Opaleye, L.P. It also reported indirect holdings via a fund and a separately managed account.

How many Sol-Gel (SLGL) shares did Opaleye’s fund hold after the transaction?

After the reported purchase, Opaleye, L.P. held 450,335 Sol-Gel ordinary shares. This reflects the fund’s position following the 291-share open-market buy on February 13, 2026, as disclosed by Opaleye Management Inc. in the Form 4 filing.

At what price did Opaleye’s fund buy Sol-Gel (SLGL) shares?

The fund managed by Opaleye Management Inc. bought 291 Sol-Gel ordinary shares at $63.00 per share. This was an open-market purchase on February 13, 2026, reported as an indirect transaction through Opaleye, L.P. in the Form 4.

What additional Sol-Gel (SLGL) holdings did Opaleye report besides the fund position?

Besides the Opaleye, L.P. fund holdings, Opaleye Management Inc. reported 10,000 Sol-Gel ordinary shares held in a separately managed account. Opaleye is the portfolio manager of this managed account and may be deemed to beneficially own those securities indirectly.

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

Opaleye Management Inc. disclaims beneficial ownership of the reported Sol-Gel shares except to the extent of its pecuniary interest. The shares are owned directly by Opaleye, L.P. and by a separately managed account for which Opaleye acts as investment or portfolio manager.

Is Opaleye Management Inc. a large shareholder of Sol-Gel (SLGL)?

Yes. Opaleye Management Inc. is identified as a more than ten percent owner of Sol-Gel Technologies Ltd. in the Form 4. Its reported interests include shares held through Opaleye, L.P. and a separately managed account it oversees as portfolio manager.