Ben-Avi David, CTO and cofounder of Nayax, purchases 2,854 NYAX shares at $44.03 each

On September 29, 2026, Ben-Avi David, CTO and cofounder of Nayax Ltd., acquired 2,854 NYAX shares at a price of $44.03 per share, amounting to a total value of $123,479.

Who is Ben-Avi David and what is his actual role at Nayax Ltd.

Ben-Avi David holds the position of Chief Technology Officer (CTO) and is one of the cofounders of Nayax Ltd., a company listed under the ticker NYAX. As CTO, he oversees technological architecture, leads software and hardware development teams, and drives product innovation. This role entails deep knowledge of ongoing projects, launch cycles, and technical challenges that can impact the company's financial performance.

His status as a cofounder provides Ben-Avi David with a long-term strategic perspective. He participates in governance decisions, shapes the company's vision, and allocates research and development resources. This dual operational and strategic role places him at the center of material non-public information that could influence the stock price.

Transaction details: 2,854 shares at $44.03 USD each

The SEC Form 4 filing indicates that the transaction occurred on September 29, 2026. Ben-Avi David purchased exactly 2,854 Nayax Ltd. shares, with each share valued at $44.03 USD. The total amount of the transaction is $123,479 USD, calculated by multiplying the number of shares by the per-unit price. It is important to distinguish between the per-share price ($44.03) and the total value ($123,479), two distinct data points presented in the filing.

Given the lack of additional information about the total number of shares held by Ben-Avi David, it is impossible to determine whether this purchase represents a significant portion of his overall allocation. However, acquiring several thousand shares constitutes a notable move for a technical executive, compared to smaller purchases often observed among non-executive directors.

Why insiders buy their shares — possible reasons

A company executive may decide to purchase shares for various reasons. Confidence in the company's future prospects is a common motivator: access to detailed information about upcoming projects can reinforce the belief that the stock price will rise. Other reasons include diversifying personal assets, tax optimization related to estate planning, or meeting personal liquidity needs.

It is also worth noting that share purchases may result from long-term incentive plans, such as the exercise of stock options or restricted stock units that become exercisable. In some cases, executives purchase shares to comply with minimum holding requirements imposed by internal governance policies.

How individual investors track Form 4 filings

Insider transactions are made public through the SEC EDGAR system, where the Form 4 filing becomes available within two business days of the transaction. Individual investors can access these documents for free online, including through the official SEC website or analytics platforms that aggregate filings. Tools like WhaleWisdom, OpenInsider, or Bloomberg Terminal offer filters to track purchases and sales by name, position, or company.

Despite the transparency provided by Form 4 filings, there are limitations. They do not specify the exact motivations of the executive or the broader context of their portfolio. Additionally, the relative size of the transaction compared to the executive's total position often remains unknown. Investors should therefore combine Form 4 analysis with other information sources, such as quarterly reports, press releases, and sector analyses, to form a balanced perspective.