Y.H. Damri trims CEO pay request and seeks a new shareholder vote

Following a failed vote last month, Yigal Damri is returning to Y.H. Damri’s shareholders with a cheaper compensation package for himself as controlling shareholder and CEO. The previous meeting, held in May, ended in disappointment for him after minority shareholders opposed both the company’s proposed upgrade to his terms and the updated compensation policy.

In the earlier proposal, Damri sought to raise his fixed monthly management fee from 271,000 shekels to 330,000 shekels, a 21% increase. He also asked to lift the annual bonus cap from 2 million shekels to 3.1 million shekels in 2026 and 4.5 million shekels in each of 2027 and 2028, more than double the previous ceiling.

Now he is backing off somewhat on the bonus size, asking for a ceiling of 3.8 million shekels for the next two years, 16% less than the previous request. At the same time, he is seeking easier conditions for earning it, lowering the minimum annual profit threshold from 300 million shekels to 250 million shekels. Hitting that target would entitle him to an initial bonus of 2 million shekels.

The new meeting notice does not mention the recent rejection or the terms that shareholders already voted down, and the company does not explain why the proposal changed. It repeats the same justification it used before. The notice also presents annual compensation as 4.1 million shekels for 2026 through 2028, including management fees, car, phone and related expenses, but does not include the bonus. With the maximum bonus added, total annual pay could reach 7.2 million shekels in 2026 and 7.9 million shekels in 2027 and 2028.