Company: PERI
Filing Date: 2025-03-25
Form Type: 20-F
Source: 0001178913-25-001021
Chunk: 97

Company: Perion Network Ltd.
Filing Date: 2025-03-25
Form: 20-F
Item: Item 6
Chunk 97
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 as the President of Magid Advisor a unit of Magid Associates, from 2008 through 2018, and as Magid Associates’ Senior Vice President and Managing Director, from 1994 through 2008. From 2013 to 2014, Mr. Vorhaus served as a director of Grow Mobile Inc. In 1987, he founded Vorhaus Investments. Mr. Vorhaus routinely advises start-ups and venture capital firms. Mr. Vorhaus has invested a wide variety of early stage companies primarily in the media and related industries. Mr. Vorhaus formerly served as a director of Altimar Acquisitions Corporation I, II and III. Mr. Vorhaus holds a B.A. in Psychology from Wesleyan University and completed the Management Development Program at the University of California, Berkeley’s Haas School of Business.
 
There are no family relationships between any of our directors or executive officers.
 
 
B.   COMPENSATION
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The aggregate direct compensation we paid to our directors and officers as a group (13 persons) for the year ended December 31, 2024, was approximately $8.0 million, which included approximately $0.34 million that was set aside or accrued to provide for pension, retirement, severance, or similar benefits. This amount includes bonuses paid to our officers pursuant to our executive bonus plan based on company performance measures, in accordance with our Compensation Policy. This amount does not include expenses we incurred for other payments, including dues for professional and business associations, business travel and other expenses, and other benefits commonly reimbursed or paid by companies in Israel. In addition, our directors are reimbursed for expenses incurred in order to attend board of directors or committee meetings.
 
In the year ended December 31, 2024, we granted our directors and officers in the aggregate (i) 462,592 restricted share units (“RSUs”), which vest over a three-year period; and (ii) 418,000 performance-based share units (“PSUs”), linked to certain financial KPI’s. These awards were granted under our 2013 Equity Incentive Plan, as amended, formerly known as the 2003 Israeli Share Option Plan.
 

In 2024, we paid each of our non-executive directors an annual fee of $62,500. At the annual general meeting of our shareholders held on September 30, 2024, or the 2024 AGM, our shareholders approved an amendment of the equity-based compensation terms of our non-exec