Gav-Yam Proposes New 4.36 Million Shekel Compensation Package for CEO Natali Mishan-Zakai
Gav-Yam real estate company proposed a new 4.36 million shekel equity compensation package for CEO Natali Mishan-Zakai, with total annual employment costs reaching 7.67 million shekels.
The public real estate company Gav-Yam has called a special general meeting of its shareholders to vote on a new equity-based compensation plan for CEO Natali Mishan-Zakai, valued at approximately 4.36 million shekels for the next three years.
Mishan-Zakai assumed her role in February 2025. The new package is designed to secure her long-term tenure and ensure organizational continuity, with any remaining portions of her previous compensation plan being offset against the new terms.
Compensation Structure and Components
The proposed incentive plan consists of two primary elements distributed evenly across three annual installments over the upcoming three-year period:
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Options: 258,705 options comprising roughly two-thirds of the benefit value, exercisable at a fixed strike price of 38.31 shekels per share.
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Restricted Stock Units (RSUs): 44,165 RSUs making up about one-third of the total value, convertible into ordinary shares without additional payment.
Upon full exercise of all equity instruments, Mishan-Zakai will hold approximately 0.14% of the company's shares. Factoring in her base salary, fringe benefits, maximum annual bonuses tied to performance targets, and equity remuneration, her maximum annual employment cost is projected to reach approximately 7.67 million shekels.
"The board explained that the decision was made in light of Mishan-Zakai's professional skills, experience, and significant contribution to advancing the company's business, alongside the desire to retain her leadership amidst market challenges."
Financial Overview and Performance
Out of the total annual compensation ceiling, base salary and social benefits amount to roughly 3.23 million shekels, potential annual bonuses stand at 2.12 million shekels, and the annual value of options and shares is valued at 2.32 million shekels. Comparative data indicates that her total remuneration package is 8.3 times higher than the average employee cost at Gav-Yam and 9.7 times the median employee cost.
An external compensation consultant reviewed the package and confirmed that the terms are fair and aligned with market standards for chief executives across comparable publicly traded firms. The shareholders' vote is scheduled for November 10.
Financial reports for the second quarter highlighted robust business metrics, including a Net Operating Income (NOI) of 208 million shekels and strong occupancy rates across commercial properties, with 75% of the space in the ToHa2 project already leased or under advanced negotiations.
