SEC FORM 3

SEC FORM 3SEC 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^*

Dror-Darwish Nir

(Last)

(First)

(Middle)

C/O POLYPID LTD.

18 HASIVIM STREET ISRAEL

(Street)

PETACH TIKVA

495376

(City)

(State)

(Zip)

ISRAEL

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
PolyPid Ltd. [ PYPD ]

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)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

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)

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)	08/05/2023	05/05/2033	Ordinary Shares	312⁽¹⁾	$11.4	D
Stock option (right to buy)	06/04/2021	06/18/2030	Ordinary Shares	597⁽²⁾	$23.07	D
Stock option (right to buy)	07/13/2021	04/13/2031	Ordinary Shares	299⁽³⁾	$23.07	D
Stock option (right to buy)	08/03/2022	05/03/2032	Ordinary Shares	312⁽⁴⁾	$23.07	D
Stock option (right to buy)	10/02/2024	07/02/2034	Ordinary Shares	6,500⁽⁵⁾	$4.24	D
Stock option (right to buy)	08/12/2025	06/25/2036	Ordinary Shares	14,440⁽⁶⁾	$2.67	D

Explanation of Responses:

1. The options were granted on May 5, 2023 and fully vested as of May 5, 2024.

2. The options were granted on June 18, 2020 and fully vested as of June 4, 2023.

3. The options were granted on April 13, 2021 and fully vested as of April 13, 2022.

4. The options were granted on May 3, 2022 and fully vested as of May 3, 2023.

5. The options were granted on July 2, 2024 and fully vested as of July 2, 2025.

6. The options were granted on June 25, 2025 and vest on a quarterly basis beginning May 12, 2025 until May 12, 2029.

	/s/ Nir Dror	03/26/2026
	** 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)

SEC Form 3 filed by new insider Dror-Darwish Nir