Adam Wagner
About Adam Wagner
Adam Wagner, 42, has served as Senior Vice President, Head of Cronos Israel since April 2, 2024, overseeing business strategy and day‑to‑day operations across Operations, Regulatory, Sales and Marketing, and integrating the Israel business into the broader organization . He is a CPA (Israel) with prior finance leadership roles at Motus GI, Medtronic, and Mazor Robotics, and began his career as a Senior Auditor at EY; he studied Accounting at Bar‑Ilan University and holds a B.Sc. in Nutrition and an M.Sc. in Genetics & Biochemistry from Tel Aviv University . Company performance context during his tenure includes 2024 “Cronos Net Revenue” (non‑GAAP) of $111.9m, Adjusted EBITDA of $(34.9)m, and Net Income of $40.0m; the 2024 cumulative TSR value of a $100 investment was $26.34 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Cronos Israel | Vice President of Finance | — | Led Israel finance (FP&A, controllership, audit, treasury, tax) and oversaw IT, supply chain, procurement, prior to appointment as Head of Cronos Israel . |
| Motus GI | Director of Finance (Israel) | — | Oversaw Israel-based finance department for a publicly traded medical device company . |
| Medtronic | Finance Manager (Israel) | — | Oversaw Israel-based finance functions at a global medical equipment manufacturer . |
| Mazor Robotics | Corporate Controller | — | Corporate controller at a dual‑listed public medical device company prior to Medtronic acquisition . |
| EY | Senior Auditor | — | Managed audit teams serving public and private companies; licensed CPA (Israel) . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Wellness/healthcare start‑up (advisory board) | Finance expert (advisory board member) | — | Advises on finance for a wellness and healthcare start‑up, contributing domain expertise and network access . |
Fixed Compensation
- No individual base salary, target bonus, or actual bonus detail for Adam Wagner is disclosed in the latest DEF 14A; compensation specifics were provided for Named Executive Officers (NEOs) only .
- Company program design (for executives/NEOs) combines base salary, a short‑term cash incentive (STI), and long‑term equity (RSUs), with equity vesting over multi‑year periods .
Performance Compensation
The company’s STI structure and 2024 outcomes (program‑level, applies to executives; individual payouts for Adam Wagner were not disclosed):
| Component | Weighting | Metrics | Range/Notes |
|---|---|---|---|
| Business Performance | 60% | Cronos Net Revenue (non‑GAAP) and Cronos Adjusted EBITDA, equally weighted | Each measure rated 0%–150%; average of measures; no qualitative adjustments applied in 2024 . |
| Individual Performance | 40% | Role‑specific objectives | 0%–130% range . |
| Payout Cap | — | — | Overall STI capped at 142% of target . |
2024 Business Performance outcomes:
| Metric | Threshold ($m) | Target ($m) | Maximum ($m) | 2024 Actual ($m) | Measure Rating |
|---|---|---|---|---|---|
| Cronos Net Revenue (non‑GAAP) | 74.1 | 98.8 | 123.6 | 111.9 | 126.4% |
| Cronos Adjusted EBITDA | (67.5) | (54.0) | (40.5) | (38.7) | 150.0% |
| Business Performance Rating (weighted average) | — | — | — | — | 138.2% |
Long‑term incentives:
- Executives received time‑based RSUs as the 2024 LTI vehicle, vesting ratably over three years; options were not granted as part of the 2024 LTI cycle for NEOs .
Equity Ownership & Alignment
| Policy/Item | Details |
|---|---|
| Stock ownership guidelines | 2x base salary for executive officers (5x for CEO); includes unvested time‑based RSUs; 5‑year compliance window from appointment . |
| Anti‑hedging/shorting | Prohibits speculation, short sales, and hedging/monetization transactions in company securities . |
| Anti‑pledging | Prohibits pledging shares as collateral; case‑by‑case exemptions may be granted with safeguards . |
| Clawback | Broad clawback covering cash, equity, and equity‑based incentives (including time‑based awards); SEC 10D‑1 restatement recovery policy adopted in 2023 . |
| Equity grant timing | Annual grants typically in March after Q4/FY earnings; no grant‑timing around MNPI disclosures . |
| Beneficial ownership (Wagner) | Not disclosed in the 2025 proxy’s beneficial ownership table (table covers >5% holders, directors, NEOs, and group totals) . |
Employment Terms
- No employment agreement, severance, or change‑of‑control terms for Adam Wagner are disclosed in the 2025 proxy; employment agreements and related economics were summarized for NEOs (e.g., CEO, former CFO) only .
Investment Implications
- Pay‑for‑performance alignment: The STI emphasizes revenue and Adjusted EBITDA (equally weighted) with a 60% business performance weighting and a 40% individual component; 2024 Business Performance rated 138.2% (above target), with a 142% payout cap, signaling upside leverage when growth/profit metrics outperform .
- Retention and selling pressure: Multi‑year RSU vesting and 5‑year ownership guideline compliance window support retention; anti‑hedging/anti‑pledging policies reduce misalignment or forced‑sale risk, though Wagner’s personal equity holdings aren’t disclosed .
- Execution risk in Israel: As Head of Cronos Israel, Wagner’s remit is exposed to the Middle East conflict’s impacts on operations and demand, and to Israel’s anti‑dumping investigation related to Canadian imports—key risk factors disclosed by the company .
- Track record indicators: In 2024 the PEACE NATURALS brand in Israel was repositioned with new strains and price/potency optimization, aligning with revenue growth objectives under Wagner’s area of responsibility .
- Governance support: A 96% say‑on‑pay approval in 2024 reflects broad shareholder support for the compensation framework that will influence executive incentives (including regional leaders) going forward .
Notes
- Adam Wagner’s individual compensation amounts, equity holdings, vesting schedules, severance terms, and any Form 4 insider activity were not disclosed in the latest proxy or filings reviewed; analysis above relies on company‑wide executive program disclosures and role‑specific biography/appointment materials .