|
NOTE 19—TRANSACTIONS AND BALANCES WITH RELATED PARTIES
The Company’s key management personnel include members of the executive management and board of directors, in accordance with the definition of Related Parties in IAS 24.
|
A. |
Transactions with and benefits to related parties |
| |
|
|
Year ended
December 31 |
|
| |
|
|
2015 |
|
|
2016 |
|
|
2017 |
|
| |
|
|
NIS in thousands |
|
| |
CEO’s salary* |
|
|
1,804 |
|
|
|
2,010 |
|
|
|
1,988 |
|
| |
Share-based payments portion |
|
|
963 |
|
|
|
1,066 |
|
|
|
455 |
|
| |
Remuneration of directors** |
|
|
3,513 |
|
|
|
1,214 |
|
|
|
613 |
|
| |
Share-based payments portion |
|
|
2,455 |
|
|
|
558 |
|
|
|
279 |
|
| |
Number of directors |
|
|
5 |
|
|
|
6 |
|
|
|
6 |
|
Regarding benefits to other key management personnel—see C below.
|
* |
In accordance with the CEO’s employment agreement, the CEO will be eligible for a bonus based on qualitative criteria and parameters determined by the Company, which will amount to a maximum of four salaries, plus a special bonus based on the fulfillment of additional conditions. |
|
** |
Including, in 2015, the effect of an agreement with one of the Company’s shareholders (who also serves as a director of the Company as from until 2016) for research consulting services, in consideration of a monthly amount of NIS 32 thousand. |
|
B. |
Balances with related parties: |
| |
|
|
December 31 |
|
| |
|
|
2016 |
|
|
2017 |
|
| |
|
|
NIS
in thousands |
|
| |
For salary, incidentals and other benefits, the balance is stated in other payables under current liabilities |
|
|
(235 |
) |
|
|
(577 |
) |
|
C. |
Benefits for key officers |
Compensation for the CFO, VP Research and Development, COO (from October 2015), VP commercialization, Chief Scientist, and VP Quality Assurance, defined as key management personnel, for their services provided to the Company, is as follows:
| |
|
|
Year ended
December 31 |
|
| |
|
|
2015 |
|
|
2016 |
|
|
2017 |
|
| |
|
|
NIS in thousands |
|
| |
Salary and other short-term benefits |
|
|
2,545 |
|
|
|
3,917 |
|
|
|
4,119 |
|
| |
Share-based payments |
|
|
500 |
|
|
|
2,147 |
|
|
|
1,051 |
|
| |
|
|
|
3,045 |
|
|
|
6,064 |
|
|
|
5,170 |
|
| |
Number of key managers |
|
|
5 |
|
|
|
6 |
|
|
|
6 |
|
|