Almog Adar
About Almog Adar
Almog Adar is Chief Financial Officer, Principal Financial Officer, and Principal Accounting Officer of Lifeward Ltd., appointed effective August 1, 2025. He is 42 years old, holds a B.A. in Accounting and Economics from the Open University of Israel, and is a Certified Public Accountant licensed by the Israeli Ministry of Justice . Adar has served at Lifeward since 2020 across finance leadership roles (Director of Finance and Corporate Financial Controller; Chief Accounting Officer since March 2022; VP Finance since December 2022) before becoming CFO, certifying the company’s Q3 2025 Form 10‑Q under SOX 302 and 906 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Lifeward Ltd. | Director of Finance & Corporate Financial Controller | 2020–Dec 2022 | Built and strengthened finance operations, foundational for later CFO transition . |
| Lifeward Ltd. | Chief Accounting Officer | Mar 2022–Aug 2025 | Led accounting, internal controls, and reporting; continued as principal accounting officer upon CFO appointment . |
| Lifeward Ltd. | Vice President of Finance | Dec 2022–Aug 2025 | Supported financial strategy and growth execution ahead of CFO promotion . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Infinya Recycling Ltd. (formerly Amnir Recycling) | Controller | Jan 2018–Dec 2019 | Managed complex financial operations; experience in industrial operations . |
| Delta Galil Industries | Assistant Controller | Jan 2016–Dec 2017 | Developed global financial management capabilities . |
| Ernst & Young | Auditor | Early career | Built deep auditing and reporting expertise across public/private companies . |
Fixed Compensation
| Component | 2025 Retention Period (Aug 1–Dec 31, 2025) | Ongoing (post‑2025) |
|---|---|---|
| Base Salary | $315,000 annual rate | Subject to Compensation Committee adjustments . |
| Target Bonus % | Up to 35% of base salary | Determined at Board’s discretion annually . |
| Retention Payment | $80,000 total, paid in two $40,000 installments, contingent on continued employment at each payment date | N/A. |
Performance Compensation
| Metric Framework | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| CFO incremental bonus (Retention Period) | Up to 7% of base salary (pro‑rated) | Individual metrics/milestones set by Board | Not disclosed | Not disclosed | Cash. |
| Company non‑equity incentive plan (FY2024 context) | Revenue targets (30%), Market development (15%), Net loss targets (30%), Personal performance (25%) | Set annually by Compensation Committee | Not provided for CFO | Paid per achievement tier | N/A. |
| Annual equity eligibility | RSU eligibility per 2025 Plan | Committee‑determined | Not disclosed | Not disclosed | Per award agreement under 2025 Plan . |
Equity Ownership & Alignment
| Equity Award | Grant Details | Vesting | Exercise / Settlement | Notes |
|---|---|---|---|---|
| Stock Options | 225,000 ordinary shares under 2025 Plan | Four equal annual installments; first tranche on first anniversary of grant | Exercise price equals closing price on grant date | Accelerated vesting upon qualifying change‑of‑control termination . |
| RSUs | Annual eligibility under 2025 Plan | Per award terms | Shares upon vest; cash only if explicitly provided | Company‑level unvested RSUs totaled 399,263 as of 9/30/2025 (not CFO‑specific) . |
- Insider trading arrangements: No Rule 10b5‑1 or non‑Rule 10b5‑1 trading arrangements were adopted or terminated by directors or officers in Q3 2025 .
- Anti‑pledging/hedging: Company policy prohibits pledging Lifeward securities, margin accounts, and hedging (e.g., collars, forward contracts) absent written approval; prohibits standing orders during blackout periods .
- Transferability: Awards generally non‑transferable and subject to restrictions per 2025 Plan .
Employment Terms
| Provision | Base Case (No Change‑of‑Control) | Change‑of‑Control (Qualifying Termination) |
|---|---|---|
| Employment Type | At‑will; CFO reporting to CEO | At‑will; same. |
| Severance (Termination without Cause or Resignation for Good Reason) | 6 months base salary continuation ; target bonus paid over 6 equal installments; COBRA premium reimbursement during severance period | 12 months base salary continuation ; lump‑sum target bonus payment ; COBRA premium reimbursement during severance period ; accelerated vesting of all unvested RSUs and options . |
| Non‑Compete / Non‑Solicit | 12 months post‑termination; global scope (U.S., Europe, Asia); “Competitive Business” defined as robotic mobility technologies for paralyzed/limited mobility patients | Same, subject to release terms . |
| Garden Leave (Non‑compete context) | If terminated without “non‑compete cause” and not otherwise receiving severance under Sections 8 or 9: 50% of base salary for 12 months, paid per normal payroll; conditions apply; potential extension to 2 years for certain breaches | Not applicable if CoC severance elected (Garden Leave replaced by severance under release terms) . |
| Confidentiality / DTSA / SEC Whistleblower | Robust confidentiality obligations; DTSA immunity and SEC reporting protections preserved | Same. |
| Indemnification | Separate indemnification agreement for expenses arising from service as CFO | Same. |
Investment Implications
- Pay‑for‑performance and retention: Structure includes modest cash base ($315k) with at‑risk components—35% target bonus, a time‑bound $80k retention payment in 2025, and multi‑year option vesting—indicating retention focus and alignment, though 2025 incremental bonus metrics are discretionary and not disclosed .
- Insider overhang and selling pressure: No 10b5‑1 plans adopted in Q3 2025 and anti‑pledging/hedging prohibitions reduce the likelihood of pre‑programmed selling or collateral‑driven disposals, lowering near‑term selling pressure risk .
- Change‑of‑control economics: Double‑trigger acceleration of all unvested equity plus 12 months salary and target bonus increases realizable value in sale scenarios, potentially incentivizing support for strategic transactions that improve shareholder value, but also raises dilution risk if awards accelerate .
- Governance and compensation scrutiny: Extremely low 2024 Say‑on‑Pay support (18.3% in favor) reflects shareholder sensitivity to alignment and performance linkage—expect continued oversight of executive compensation structures, including CFO plans .
- Restrictive covenants mitigate transition risk: Global 12‑month non‑compete/non‑solicit and garden leave reduce immediate competitive leakage if Adar departs, supporting continuity and IP protection .