Yoav Efron - Sep 15, 2022 Form 4 Insider Report for ACTELIS NETWORKS INC (ASNS)

Role: Chief Financial Officer
Signature: /s/ Yoav Efron
Stock symbol: ASNS
Transactions as of: Sep 15, 2022
Transactions value $: $0
Form type: 4
Date filed: 9/19/2022, 04:15 PM
Previous filing: May 17, 2022

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ASNS	Restricted Stock Units	Award	$0	+25K		$0.00	25K	Sep 15, 2022	Common Stock, $0.0001 par value	25K		Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The Restricted Stock Units (the "RSUs") were granted to the Reporting Person as fees for services provided to the Company in the Issuer's position as Chief Financial Officer of the Company. The RSUs vests yearly in three equal tranches, with the first tranche vesting on May 17, 2023, the second tranche vesting on May 17, 2024, and the last tranche vesting on May 17, 2025, subject to the Reporting Person's continued service as the Company's Chief Financial Officer through each date that the options shall vest, unless the Reporting Person's engagement with the Issuer is terminated, in which case the unvested RSUs will vest at the termination date, based on the upcoming annual anniversary amount, pro-rated to the date of termination. Each RSU represents a contingent right to receive one share of the Issuer's common stock or the cash value thereof. The Board, in its sole discretion, will determine in accordance with the terms and conditions of the Issuer's 2015 Equity Incentive Plan, as amended, the form of payout of the RSUs (cash and/or stock).

Content

The Restricted Stock Units (the "RSUs") were granted to the Reporting Person as fees for services provided to the Company in the Issuer's position as Chief Financial Officer of the Company. The RSUs vests yearly in three equal tranches, with the first tranche vesting on May 17, 2023, the second tranche vesting on May 17, 2024, and the last tranche vesting on May 17, 2025, subject to the Reporting Person's continued service as the Company's Chief Financial Officer through each date that the options shall vest, unless the Reporting Person's engagement with the Issuer is terminated, in which case the unvested RSUs will vest at the termination date, based on the upcoming annual anniversary amount, pro-rated to the date of termination. Each RSU represents a contingent right to receive one share of the Issuer's common stock or the cash value thereof. The Board, in its sole discretion, will determine in accordance with the terms and conditions of the Issuer's 2015 Equity Incentive Plan, as amended, the form of payout of the RSUs (cash and/or stock).