SEC FORM 3

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Elkavets Nelly

(Last)

(First)

(Middle)

8 HANAGAR ST.

POB 7152

(Street)

HOD HASHARON

4501309

(City)

(State)

(Zip)

ISRAEL

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/20/2026

3. Issuer Name and Ticker or Trading Symbol
Valens Semiconductor Ltd. [ VLN ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	SVP, Human Resources

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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Ordinary Shares	62,208⁽¹⁾	D
Ordinary Shares	60,501⁽²⁾	D
Ordinary Shares	62,208⁽³⁾	D
Ordinary Shares	75,000⁽⁴⁾	D
Ordinary Shares	75,000⁽⁵⁾	D
Ordinary Shares	75,000⁽⁶⁾	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Option (Right to Buy)	11/15/2016⁽⁷⁾	11/15/2028	Ordinary Shares	13,293	$0.75	D
Stock Option (Right to Buy)	01/11/2021⁽⁷⁾	01/11/2029	Ordinary Shares	21,616	$0.86	D
Stock Option (Right to Buy)	01/11/2022⁽⁷⁾	01/11/2029	Ordinary Shares	21,616	$0.86	D
Stock Option (Right to Buy)	01/11/2020⁽⁷⁾	01/11/2029	Ordinary Shares	21,616	$0.86	D
Stock Option (Right to Buy)	01/11/2022⁽⁷⁾	01/11/2031	Ordinary Shares	46,377	$0.86	D
Stock Option (Right to Buy)	06/26/2027⁽⁸⁾	06/26/2032	Ordinary Shares	127,500	$2.27	D

Explanation of Responses:

1. These shares were issued upon vesting of previously granted RSU's

2. The shares reported herein were acquired upon the exercise of previously granted stock options

3. The Reporting Person was granted restricted stock units ("RSUs"), which each represent a contingent right to receive one share of ordinary stock of Valens Semiconductor Ltd. (the "Company"). The units vest 25% on the first Vesting Date (01/18/2024) and the remaining 75% vest in twelve equal quarterly installments thereafter, subject to the Reporting Person's continued service to the Company or its subsidiaries through each vesting date.

4. The Reporting Person was granted restricted stock units ("RSUs"), which each represent a contingent right to receive one share of ordinary stock of Valens Semiconductor Ltd. (the "Company"). The units vest 25% on the first Vesting Date (01/22/2025) and the remaining 75% vest in twelve equal quarterly installments thereafter, subject to the Reporting Person's continued service to the Company or its subsidiaries through each vesting date.

5. The Reporting Person was granted restricted stock units ("RSUs"), which each represent a contingent right to receive one share of ordinary stock of Valens Semiconductor Ltd. (the "Company"). The units vest 25% on the first Vesting Date (01/23/2026) and the remaining 75% vest in twelve equal quarterly installments thereafter, subject to the Reporting Person's continued service to the Company or its subsidiaries through each vesting date.

6. The Reporting Person was granted restricted stock units ("RSUs"), which each represent a contingent right to receive one share of ordinary stock of Valens Semiconductor Ltd. (the "Company"). The units vest 25% on the first Vesting Date (02/24/2027) and the remaining 75% vest in twelve equal quarterly installments thereafter, subject to the Reporting Person's continued service to the Company or its subsidiaries through each vesting date.

7. The Stock Options are Fully vested and immediately exercisable

8. The Options vest in full on the second year anniversary of the grant (06/26/2027), subject to the Reporting Person's continued service to the Company or its subsidiaries on the vesting date.

Remarks:

This Form 3 is being filed to report the Reporting Persons beneficial ownership of securities of the Issuer as of the date the Reporting Person became subject to the reporting requirements of Section 16 of the Securities Exchange Act of 1934.

	Nelly Elkavets by: Oppenheimer Israel, as Attorney-in-fact	03/20/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)