Elbit Systems — Director's Dealing 2026

Mar 25, 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

OMB APPROVAL

OMB Number: 3235-0287

Estimated average burden

hours per 0.5 response:

| 1. Name and Address of Reporting Person*
Delmar Haim Daniel | 2. Issuer Name and Ticker or Trading Symbol
ELBIT SYSTEMS LTD [ESLT] | 5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below) |
| --- | --- | --- |
| 3. Date of Earliest Transaction (Month/Day/Year)
3/24/2026 |
| (Last) (First) (Middle)
ADVANCED TECHNOLOGY CENTER
PO BOX 539 | 4. If Amendment, Date of Original Filed (Month/Day/Year) | Executive Vice President |
| (Street)
HAIFA L3 3100401 | Rule 10b5-1(c) Transaction Indication
☐ Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10. | 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person |
| (City) (State) (Zip) |
| 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) |
| Code | V | Amount | (A) or (D) | Price |

---

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
Employee Stock Option (right to buy)	$912.6	3/24/2026		A		5,000		(1)	6/24/2031	Ordinary Shares	5,000(2)	$0	5,000	I	Held in an employee benefit trust by IBI Trust Management(3)

Explanation of Responses:

1. These options will vest and become exercisable in three tranches: 40% on March 24, 2028, 30% on March 24, 2029, and 30% on March 24, 2030.
2. Unless otherwise determined by the option plan's administrators, a net exercise mechanism will be used with respect to the options, which entitles Mr. Delmar to exercise the options for a number of shares determined based on the excess, if any, of the fair market value of the shares underlying such options minus the exercise price of such options, calculated based on the date of exercise. Therefore, the number of shares actually received by Mr. Delmar following any exercise of options will likely be fewer than the number of shares subject to the options.
3. Mr. Delmar's options are held in trust in accordance with the terms of his award agreement and the plan under which they were granted. Mr. Delmar is the sole beneficiary of the options.

/s/ Adi Pinchas Confino, Attorney-in-Fact

3/25/2026

Date

** Signature of Reporting Person

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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