Yaron Altit - Jun 20, 2023 Form 4 Insider Report for ACTELIS NETWORKS INC (ASNS)

Role: Exec VP International Sales
Signature: /s/ Yaron Altit
Stock symbol: ASNS
Transactions as of: Jun 20, 2023
Transactions value $: $0
Form type: 4
Date filed: 6/21/2023, 04:30 PM
Previous filing: Dec 19, 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 Unit	Award	$0	+4K		$0.00	4K	Jun 20, 2023	Common Stock, $0.0001 par value	4K		Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	The first third of the Restricted Stock Units ("RSUs") will vest on June 15, 2024 ("Vesting Date"), with the remaining two-thirds of the RSUs vesting in equal increments over the next two years on each annual anniversary date following the Vesting Date, until June 15, 2026, at which point the RSU grants shall be fully vested, subject to the Reporting Person remaining continuously employed through the final Vesting Date, 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.
F2	The board of directors of the Issuer, 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 first third of the Restricted Stock Units ("RSUs") will vest on June 15, 2024 ("Vesting Date"), with the remaining two-thirds of the RSUs vesting in equal increments over the next two years on each annual anniversary date following the Vesting Date, until June 15, 2026, at which point the RSU grants shall be fully vested, subject to the Reporting Person remaining continuously employed through the final Vesting Date, 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 of directors of the Issuer, 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).