NewMed Proposes 100,000 NIS Monthly Salary and Options for Yanki Quint
NewMed Energy has proposed a 100,000 NIS monthly salary and 3 million NIS in options for Yanki Quint, exceeding standard company remuneration policies.
NewMed Energy, controlled by Yitzhak Tshuva, has called a general meeting to approve the compensation terms for incoming executive Yanki Quint. Under the proposed package, Quint will receive a gross monthly salary of 100,000 NIS for a 70% position, exceeding the company's standard remuneration policy which caps a 70% role at 84,000 NIS per month.
In addition to his salary, Quint will be granted 562,000 stock options convertible into the same number of NewMed shares at an exercise price of 17.15 NIS per share, slightly above the current market price. The options, valued at 3 million NIS, will vest in three tranches with a 5% increase in the exercise price per tranche. His compensation also includes social benefits, an annual bonus of up to 560,000 NIS, and a six-month adjustment grant after one year of service.
NewMed highlighted Quint's extensive experience as vital for navigating complex regulatory challenges. Meanwhile, Niv Serna, who transitioned from chairman to CEO, will receive an annual compensation package costing the company 3 million NIS, including a monthly cost of 180,000 gross, an annual bonus of up to 12 salaries, and options valued at 1.4 million NIS.
