Brainsway Ltd. — Director's Dealing 2026

Mar 18, 2026

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

OMB APPROVAL
OMB Number:	3235-0104
Estimated average burden hours per response	0.5
1. Name and Address of Reporting Person*
Lushi Avner
(Last) (First) (Middle)
16 HARTUM STREET, RAD TOWER, 14TH FLOOR
HAR HAHOTZVIM
(Street)
JERUSALEM 9777516
(City) (State) (Zip/Postal Code)
ISRAEL
(Country)
(Month/Day/Year)
03/18/2026	3. Issuer Name and Ticker or Trading Symbol
Brainsway Ltd. [BWAY]
3a. Foreign Trading Symbol
BWAY
---	---
(Check all applicable)
☑ Director 10% Owner
☐ Officer (give title below) Other
(specify below)	5. If Amendment, Date of Original Filed
(Month/Day/Year)
(Check Applicable Line)
☑ 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)
Ordinary Shares^{(1)(2)}	6,250
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)
	Date Exercisable
Stock Options (right to buy)	(3)

Explanation of Responses:

1. The Ordinary Shares may be represented by American Depositary Shares, each of which currently represents one Ordinary Share.
2. This figure represents unvested restricted stock units ("RSUs") to receive 6,250 ordinary shares that vest quarterly until March 5, 2028, with each RSU representing a contingent right to receive one ordinary share.
3. Stock options were granted on March 5, 2024, with the remaining options to purchase 12,500 ordinary shares vesting in equal quarterly installments until March 5, 2028.
4. The exercise price is NIS 11.17 per share.

/s/ Avner Lushi

** Signature of Reporting Person

03/18/2026

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.