Phoenix Financial Ltd. Reduces Stake in Sol-Gel Technologies Ltd. to 4.99%

On June 9, 2026, Phoenix Financial Ltd. filed a Schedule 13G/A with the SEC, reporting a reduction in its position in Sol-Gel Technologies Ltd. (SLGL). As of the event date on June 2, 2026, the filer reported beneficial ownership of 161,825.70 ordinary shares, representing a 4.99% stake in the company. This is a decrease from the previously reported 210,849 shares. The shares are held by various direct and indirect subsidiaries and partnerships under the Phoenix Group, which manage funds for exchange-traded notes, insurance policies, and pension funds. Phoenix Financial Ltd. noted that each subsidiary operates under independent management and makes its own investment decisions. By falling below the 5% threshold, the filer has indicated that the securities are not held for the purpose of influencing or changing the control of the issuer. The calculation is based on approximately 3.25 million ordinary shares outstanding.