Company: PERI
Filing Date: 2025-03-25
Form Type: 20-F
Source: 0001178913-25-001021
Chunk: 101

Company: Perion Network Ltd.
Filing Date: 2025-03-25
Form: 20-F
Item: Item 6
Chunk 101
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U grant date fair value in accordance with accounting guidance for equity-based compensation and does not necessarily reflect the cash proceeds to be received by the applicable officer upon the vesting and sale of the underlying shares. For a discussion of the assumptions used in reaching this valuation, see Note 2 to our Financial Statements.
 
(5) Mr. Sigron’s Salary Cost includes an amount of $94,025 remunerated by National Security Institution (the “NII”) for the time he served on reserve duty during 2024.
 
(6) Mr. Tzubery was appointed as our Chief Financial Officer effective as of August 1, 2024. Mr. Tzubery’s Salary Cost set forth in the table above, reflects his Salary Cost solely as our Chief Financial Officer.
 
 Compensation Terms of our Chief Executive Officer
 
Tal Jacobson was appointed as our Chief Executive Officer effective August 1, 2023. His compensation terms as Chief Executive Officer were approved by the shareholders at the 2024 AGM. The following is a summary of his compensation terms, which are consistent with the Company’s Compensation Policy.
 
At the 2024 AGM, our shareholders approved increasing Mr. Jacobson’s annual base salary to NIS 1,800,000 (equivalent to approximately 491,803 USD) effective August 1, 2024. Mr. Jacobson is eligible for a target annual cash bonus of up to 100% of his annual base salary, or 150% in case of overachievement, based on a performance matrix pre-approved annually by our Compensation Committee and Board. The bonus also includes a discretionary component, not based on measurable performance indexes. In addition, our Compensation Committee and the Board are authorized to grant Mr. Jacobson, from time to time, a special bonus as set out in, and subject to the terms of, our Compensation Policy.
 
 In addition, Mr. Jacobson was previously granted 90,000 RSUs and 90,000 PSUs as of February 7, 2023 (the “2023 CEO Grant”). The RSUs under the 2023 CEO Grant shall vest over three years with a 12-month cliff; one-third vests on the first anniversary of the grant date, and the balance vests quarterly over the next eight quarters. The PSUs under the 2023 CEO Grant are subject to the Company meeting revenue and Adjusted EBITDA targets as determined by our Compensation Committee and Board. No PSUs vest if either revenue