Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 84

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 6
Chunk 84
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In addition, we recorded additional social benefits costs for the same executives: $74,000 for Eyal Peso, $48,000 for Adrian Lofer, $51,000 for Meir Peleg, $69,000 for Benjamin Lepin, and $83,000 for David Le Berre.

The salary expenses summarized above include the gross salary paid to the Covered Officers, and the social benefit costs include the social benefits paid by us on behalf of the Covered Officers, including convalescence pay, contributions made by us to an insurance policy or a pension fund, work disability insurance, severance, educational fund and payments for social security.

The 2024 cash bonus expenses recorded for Benjamin Lepin as provided for in our financial statements for the year ended December 31, 2024, were $188,000.

90

We recorded equity-based compensation expenses in our financial statements for the year ended December 31, 2024, for options granted to Eyal Peso, Adrian Lofer, Meir Peleg, Benjamin Lepin and David Le Berre of $1,282,000, $177,000, $173,000, $77,000 and $158,000, respectively. The aforementioned equity-based compensation is subject to a time-based vesting schedule, and, accordingly, the above expenses also reflect equity awards made in previous years that have vested during the current year. Assumptions and key variables used in the calculation of such amounts are described in Note 2 to our consolidated financial statements included elsewhere in this Annual Report.

In addition, (i) our office holders who are not non-employee directors who served in such capacity as of the first business day in Israel following the 30th trading day of our shares on Nasdaq, or the First Grant Date, are eligible to receive a grant of options under our 2016 Plan with a value of $150,000, and (ii) thereafter, on each anniversary of the First Grant Date, our office holders who are not non-employee directors, or the Eligible Executives, provided that he or she is serving as an Eligible Executive at such time, will be granted options under the 2016 Plan with a value of up to three times (or five times for our chief executive officer) their annual aggregate gross base salary for the year in which the grant is made, which value shall be determined by our compensation committee and the Board (with prorated awards granted to Eligible Executives