Bezeq Board Approves 10 Million Shekel Stock Options for Chairman and CEO
Translated & summarized from Calcalist by baba
Bezeq's board has approved stock options worth approximately 10 million shekels for Chairman Tomer Ravid and CEO Nir Dod. Ravid is slated to receive options valued at 4 million shekels, while Dod will receive options valued at 6 million shekels. The grants are subject to shareholder approval and will vest over three years. The board cited strategic contributions and leadership in business and technological advancements as justifications for the allocations.
The story in 5 lines · by baba
- Bezeq Chairman Tomer Ravid and CEO Nir Dod are set to receive stock options valued at approximately 10 million shekels.
- Ravid's allocation is valued at 4 million shekels, while Dod's is valued at 6 million shekels.
- The options require shareholder approval, with a meeting scheduled for December 21.
- The options will vest over three years, with the first installment in November 2027.
- The board cited strategic contributions and leadership as reasons for the grants.
Bezeq's board of directors has approved the allocation of stock options valued at approximately 10 million shekels to Chairman Tomer Ravid and CEO Nir Dod. Ravid is set to receive 2.98 million options, with an estimated value of 4 million shekels, pending shareholder approval on December 21. This marks a second tranche of options for Ravid, who received a previous grant less than a year ago. The company's board justified the allocation, noting a point deviation from the equity compensation cap, citing Ravid's contribution to strategic initiatives and his role in retaining him as chairman. Dod will receive options for 4.46 million Bezeq shares, valued at 6 million shekels. This is Dod's first option grant since becoming CEO in March 2024. The options for both executives will vest over three installments, with the first due in November 2027. They will be granted with two exercise prices: 8 shekels and 10 shekels per share. Bezeq's current share price is 7.05 shekels, placing the options close to the money. The board also cited Dod's leadership in driving business success, expanding fiber network deployment, implementing AI tools, and securing a labor agreement as reasons for his grant.
