SEC FORM 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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

1. Name and Address of Reporting Person ^*

Yavetz Gilad

(Last)

(First)

(Middle)

C/O ENLIGHT RENEWABLE ENERGY LTD.

13 AMAL ST. AFEK INDUSTRIAL PARK

(Street)

ROSH HAAYIN

4809249

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Enlight Renewable Energy Ltd. [ ENLT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
EXEC. CHAIRMAN OF THE BOARD

3. Date of Earliest Transaction (Month/Day/Year)
05/13/2026

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

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)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Ordinary shares, NIS 0.1 par value per share	05/13/2026		M		77,210	A	$ 23.22 ⁽¹⁾	967,157.10 ⁽²⁾	D
Ordinary shares, NIS 0.1 par value per share	05/13/2026		F		20,721 ⁽³⁾	D	$ 91.78 ⁽⁴⁾	946,436.10 ⁽²⁾	D
Ordinary shares, NIS 0.1 par value per share	05/13/2026		S		56,489	D	$ 91.78 ⁽⁴⁾	889,947.10 ⁽²⁾	D
Ordinary shares, NIS 0.1 par value per share	05/13/2026		S		43,511	D	$ 91.78 ⁽⁴⁾	846,436.10 ⁽²⁾	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Options (right to buy)	$ 23.22 ⁽¹⁾	05/13/2026		M			77,210	⁽⁵⁾	09/30/2028	Ordinary shares, NIS 0.1 par value per share	77,210	$ 0	274,997 ⁽⁵⁾	D
Stock Options (right to buy)	$ 27.33 ⁽⁶⁾							⁽⁷⁾	10/01/2032	Ordinary shares, NIS 0.1 par value per share	345,927 ⁽⁷⁾ ⁽⁸⁾		345,927 ⁽⁷⁾ ⁽⁸⁾	D
Performance-Based RSUs	⁽⁹⁾							⁽⁹⁾	⁽⁹⁾	Ordinary shares, NIS 0.1 par value per share	76,055 ⁽⁸⁾ ⁽⁹⁾		76,055 ⁽⁸⁾ ⁽⁹⁾	D

Explanation of Responses:

1. Represents an exercise price of NIS 71.89, converted to U.S. dollars using the Bank of Israel representative exchange rate of $1.00 to NIS 3.096 as of March 18, 2026.

2. Includes (i) 43,512 restricted share units granted on April 17, 2024, with 21,756 vesting on each of April 17, 2027 and April 17, 2028; and (ii) 6,726 restricted share units granted on October 1, 2025, with 1,681 vesting on October 1, 2026, 1,682 vesting on October 1, 2027, 1,681 vesting on October 1, 2028, and 1,682 vesting on October 1, 2029. Each restricted share unit represents a contingent right to receive one ordinary share of the Company.

3. These shares were retained by the Company in payment of the exercise price of the employee stock options exercised by the Reporting Person. The amount retained by the Company was not in excess of the amount of the exercise price.

4. Represents a transaction price of NIS 267.00, converted to U.S. dollars using the Bank of Israel representative exchange rate of $1.00 to NIS 2.909 as of the date immediately preceding the date of the transaction.

5. Stock options were granted on September 30, 2021, with 24,997 having vested on September 30, 2023, 50,000 having vested on December 30, 2023, 50,000 having vested on March 30, 2023, 50,000 having vested on June 30, 2023, 50,000 having vested on September 30, 2024, 12,500 having vested on December 30, 2024, 12,500 having vested on March 30, 2025, 12,500 having vested on June 30, 2025, and 12,500 having vested on September 30, 2025.

6. Represents an exercise price of NIS 84.60, converted to U.S. dollars using the Bank of Israel representative exchange rate of $1.00 to NIS 3.096 as of March 18, 2026.

7. Stock options were granted on October 1, 2025, with 86,481 vesting on October 1, 2026, and 86,482 vesting on each of October 1, 2027, October 1, 2028, and October 1, 2029.

8. No transaction has been effected by the Reporting Person with respect to these securities, and they are being included in this Form 4 for informational purposes only.

9. Performance-based RSUs ("PSUs") were granted on October 1, 2025 and vest in four annual tranches: 19,013 on October 1, 2026, and 19,014 on each of October 1, 2027, 2028, and 2029, beginning 12 months after the grant date, subject to continued service as an office holder and achievement of performance metrics for the preceding calendar year. The metrics, Total Income and Revenues, and Adjusted EBITDA (each as reported in the Company's Annual Report on Form 20-F), are measured against the midpoint of the Company's forecast published at the start of the applicable performance year. Achievement of 90% of the target yields 50% vesting for that metric's portion of the tranche, with linear interpolation for achievement between 90% and 100%. Metrics are weighted equally and evaluated independently; overperformance in one cannot offset the other. Each PSU represents a contingent right to receive one ordinary share of the Company upon vesting.

	/s/ Helit Megido as attorney-in-fact for Gilad Yavetz	05/14/2026
	** Signature of Reporting Person	Date
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