The amendments, approved by the Remuneration Committee and the Board of Directors on August 27 and 28, introduce tighter financial constraints across the board. The fixed monthly remuneration cap for the CEO has been reduced from ILS 180,000 to ILS 170,000, while the maximum annual cost for total CEO compensation fell from ILS 8 million to ILS 6.81 million. Additionally, the monthly management fees for a CEO providing services against an invoice were lowered to ILS 240,000.
Max Stock Trims CEO Compensation and Policy Caps Before Shareholder Vote
Max Stock has revised its proposed compensation policy and CEO terms ahead of the extraordinary general meeting scheduled for September 15, 2026. Following board and committee reviews in late August, the company lowered remuneration ceilings and introduced stricter vesting requirements to align leadership packages with updated internal governance standards.
Changes to the broader policy include a new 4.5-month salary cap on discretionary bonuses for office holders, excluding the CEO, whose cap remains at three months. Equity incentives were also tightened: the first tranche of equity grants now carries a one-year vesting requirement, and annual non-cash equity awards for directors are now capped at the average remuneration level of the previous calendar year. These adjustments specifically impact the terms for CEO Ori Max, whose monthly management fees will be fixed at ILS 240,000 effective October 1, 2026. Despite these revisions, the company confirmed that net profit targets and the ILS 5.25 million equity grant value for Mr. Max remain unchanged.
Comments (0)
No comments yet. Be the first!