Stock Exchange Approves: Options for Chairman and CEO, and a Multi-Million Retention Loan

The general meeting of the Tel Aviv Stock Exchange approved granting options to Chairman Eugene Kandel and CEO Itai Ben Zeev, as well as a retention loan of 3.5 million shekels to Ben Zeev. The repayment terms of the loan were not detailed in the report.

The special general meeting of the Tel Aviv Stock Exchange approved a compensation package for Chairman of the Board, Prof. Eugene Kandel, and CEO Itai Ben Zeev. The package includes granting company stock options: 35,401 options for Kandel and 46,815 options for Ben Zeev. The options may allow the two to benefit from an increase in the stock exchange's share value, but the report does not specify their monetary value as details on the exercise price and option terms were not provided. Additionally, a retention loan of 3.5 million shekels was approved for Ben Zeev, intended to encourage him to remain in his position. A retention loan is a compensation tool used as "golden handcuffs," but the report did not detail the loan terms, repayment method, or whether it may be forgiven. The meeting also approved a framework for granting equity compensation to directors and an amendment to the compensation policy for office holders for the years 2026-2028.