Brainsway Ltd. — Director's Dealing 2026

May 21, 2026

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

☐ Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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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1. Name and Address of Reporting Person* Mitrany Rayten Michal Ety		2. Issuer Name and Ticker or Trading Symbol Brainsway Ltd. [BWAY] 2a. Foreign Trading Symbol BWAY	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give title below) Other (specify below)
(Last)	(First) (Middle)
16 HARTUM STREET, RAD TOWER, 14TH FLOOR HAR HAHOTZVIM
(Street)		3. Date of Earliest Transaction (Month/Day/Year) 05/19/2026
JERUSALEM	9777516
(City)	(State) (Zip/Postal Code)	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
ISRAEL
(Country)
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)
			Code
Ordinary Shares(1)	05/19/2026		M
Ordinary Shares(1)	05/19/2026		F
Ordinary Shares(1)	05/20/2026		M
Ordinary Shares(1)	05/20/2026		F
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)
Stock Options (right to buy)	(2)	05/19/2026
Stock Options (right to buy)	(2)	05/20/2026

Explanation of Responses:

1. The Ordinary Shares may be represented by American Depositary Shares, each of which currently represents one Ordinary Share.
2. The exercise price is NIS 15.26 per share.
3. This figure includes ordinary shares and 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.
4. These shares were retained by the Company at a price of NIS 44.36 per share in payment of the exercise price of the employee stock options exercised by the Reporting Person.
5. These shares were retained by the Company at a price of NIS 43.92 per share in payment of the exercise price of the employee stock options exercised by the Reporting Person.
6. Stock options were granted on January 13, 2020, and were fully vested by November 28, 2023.

/s/ Ety Mitrany

** Signature of Reporting Person

05/21/2026

Date

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• 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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