Company: NCEL
Filing Date: 2025-06-09
Form Type: F-4/A
Source: 0001213900-25-052354
Chunk: 795

Company: NewcelX Ltd.
Filing Date: 2025-06-09
Form: F-4/A
Chunk 795
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 price of the Options will be as follows: 300,000 options at an exercise price of USD $0.7 (NIS 2.3), 150,000 options at an exercise price of USD $1 (NIS 3), and 50,000 options at an exercise price of USD $1.7 (NIS 5). The vesting period of the Options is three years, wherein one -thirdof the Options are to mature after 1 year and the remaining Options are to mature linearly over eight quarters. The Options were granted in the equity track under section 102 under the Company’s standard conditions and in accordance with the Company’s option plan. The Options will be exercisable for a period of 5 years from their grant date. The CEO’s Options’ value of USD $62 thousand was determined according to the Black -Scholesmodel based on the following assumptions: 100,000 options were granted to the chairman of the Board of Directors, each of which is exercisable into one Share for an exercise price of USD $0.81 (NIS 2.68). The vesting period of the Options is one year from their grant date. The Options will be exercisable for a period of five years from their grant date. The Options were granted in the equity track under section 102 under the Company’s standard conditions and in accordance with the Company’s option plan. The chairman of the Board of Directors’ Options’ value of USD $30 thousand was determined according to the Black -Scholesmodel based on the following assumptions:

| Dividend yield for the share (%)    |     |   — |   |
| Expected share price volatility (%) |     |  72 | % |
| Risk-free interest rate (%)         |     | 0.3 | % |
| Share price (USD)                   |     | 1.1 |   |

D.On June 12, 2022, the shareholders’ meeting approved the grant of non -marketableoptions that can be exercised into Shares in a 1:1 ratio as follows: 708,000 options for the CEO, and approximately 625,000 options for the chairman of the board (the “June Options”).

Annex G-37

KADIMASTEM LTD.
NOTES TO FINANCIAL STATEMENTS NOTE 19: — SHARE-BASED PAYMENT (cont.) The June Options will vest over a period of 36 months in equal quarterly installments at an exercise price of