Protalix BioTherapeutics Inc. (DE) filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
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Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On April 21, 2025, Eyal Rubin, Sr. Vice President and Chief Financial Officer of Protalix BioTherapeutics, Inc., a Delaware corporation (the “Company”), provided the Company and the Company’s Board of Directors with six months’ notice of his resignation from his position with the Company and its subsidiary, in order to pursue other opportunities. Mr. Rubin served in his position with the Company for close to six years in which he played an important role in improving the Company’s financial position and product development advancement.
Throughout the six-month period, Mr. Rubin will continue to serve in his current role and provide transition services to the Company. The Compensation Committee of the Board of Directors agreed that Mr. Rubin is entitled to receive his full salary, including all socal benefits for the six-month period, including the equity incentives to which he is entitled before the end of such period. In addition, at the end of his employment, he will be entitled to a severance payment equal to two-months’ salary and the accelerated vesting in full of all of his outstanding, unvested equity-based incentives. Should the Company appoint a successor to Mr. Rubin before the end of the six-month period, the Company and Mr. Rubin may agree upon an earlier final date of employment provided that there is sufficient time for the successful transfer of authority, duties and/or responsibilities to the successor. An earlier termination date will not affect the conditions described herein.
Item 9.01Financial Statements and Exhibits
Exhibit No. |
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104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 23, 2025 | PROTALIX BIOTHERAPEUTICS, INC. | ||
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| By: | /s/ Dror Bashan | |
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| Name: | Dror Bashan |
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| Title: | President and |