Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 832

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 832
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; and immediate vesting of all restricted share units that have not yet vested in the event of a change of control. In 2024, expenses of USD $63 thousand were recognized with respect to the grant of these RSUs. In light of the termination of Mr. Assaf Shiloni’s employment, 96,911 of the RSUs expired. F.On March 21, 2024, the Shareholders’ Meeting approved the grant of equity compensation to Mr. Ronen Twito, the Executive Chairman of the Company’s Board of Directors, comprising 209,337 RSUs that will vest into up to 209,337 ordinary shares. The RSUs will vest into shares in 36 equal monthly installments, over a total period of 3 years, commencing on the date of approval of the grant by the Board of Directors. The RSUs will vest immediately, in part or in full, in the following circumstances: Immediate vesting of 25% of the RSUs that have not yet vested in the event of a cumulative equity raise (including equity from the exercise of warrants) of USD $10 million or more commencing from the date of approval of the grant by the Board of Directors; immediate vesting of 60% of the RSUs that have not yet vested upon the listing of the Company’s shares for trading in the United States or in the event that the Company merges with a company listed on a U.S. stock exchange; and immediate vesting of all RSUs that have not yet vested in the event of a change of control. In 2024, expenses of USD $145 thousand were recognized in respect of the grant of these RSUs. As of December 31, 2024, 63,221RSUs had vested.

Annex G-38

KADIMASTEM LTD.
NOTES TO FINANCIAL STATEMENTS NOTE 19: — SHARE-BASED PAYMENT (cont.) G. Movement throughout the year Below is a table that describes the changes in the number of share options and their weighted average exercise price:

|                                                               |     |      2024 |    |     |                |     |      2023 |      |     |                |
|                                                               |     | Number of 
   Options |    |     |       Weighted 
        average 
 exercise price |     | Number of 
   Options |      |     |       Weighted 
        average 
 exercise price |
|                                                               |     |       USD |    |     |