Company: PERI
Filing Date: 2025-03-25
Form Type: 20-F
Source: 0001178913-25-001021
Chunk: 111

Company: Perion Network Ltd.
Filing Date: 2025-03-25
Form: 20-F
Item: Item 6
Chunk 111
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 (such amount excludes 115,339 ordinary shares held by the Company).
 

                         Name                                 Number of Ordinary         Percentage of Ordinary     
                                                          Shares Beneficially Owned        Shares Outstanding       
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All directors and officers as a group (10 persons) (1)                  280,016        0.62                        %

(1)   Includes 103,252 RSUs and options to purchase ordinary shares that are vested or will vest within 60 days of March 5, 2025.
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Share Option Plans
 
2013 Incentive Plan
 
Our 2013 Equity Incentive Plan, or the 2013 Plan, was initially adopted in 2003, providing certain tax benefits in connection with stock-based compensation under the tax laws of Israel and potentially the United States. On November 8, 2022, our board of directors approved extending the term of the 2013 Incentive Plan for an additional period of two years, which expired on December 9, 2024. The 2013 Plan provided for the grant of equity-based compensation to our employees, directors, office holders, service providers, and consultants.
 
We no longer grant any awards under the 2013 Plan as it was superseded by our 2024 Share Incentive Plan, although previously granted awards remain outstanding. Ordinary shares subject to outstanding equity awards granted under the 2013 Plan that expire or become un-exercisable without having been exercised in full will become available again for future grant under the 2024 Plan (as defined below). As of December 31, 2024, a total of 250,710 options to purchase ordinary shares were outstanding under the 2013 Plan, with a weighted average exercise price of $6.07 per share, and 3,990,413 restricted share units were outstanding under the 2013 Plan. Our board of directors, or a duly authorized committee of our board of directors, administers the 2013 Plan.
 
2024 Share Incentive Plan
 
On November 19, 2024, our board of directors approved the adoption of the 2024 Share Incentive Plan, or the 2024 Plan.
 
We maintain the 2024 Plan, under which we may grant equity-based incentive awards, to attract, motivate, and retain the talent for which we compete. The 2024 Plan is administered by our board of directors, or a duly authorized committee of our board of directors and provides for the grant of stock