Hadar Levy
About Hadar Levy
Hadar Levy, 52, has served on Lifeward’s Board since August 2022. He is CEO of Brainsway Ltd. (since Feb 2023) and previously held senior roles there: SVP & COO (May 2020–Feb 2023) and CFO (Sep 2014–May 2020). Earlier roles include finance manager at Amdocs (Latin America), CFO & Business Development at Notal Vision, Controller at GE Healthcare Israel, and he began his career at Deloitte; he holds a BA in Accounting & Economics, an LLM (Bar-Ilan University), and is a CPA .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Brainsway Ltd. | Chief Executive Officer | Feb 2023–present | CEO of commercial-stage medical device company; operational and financial leadership |
| Brainsway Ltd. | SVP & Chief Operating Officer | May 2020–Feb 2023 | Senior management; operations oversight |
| Brainsway Ltd. | Chief Financial Officer | Sep 2014–May 2020 | Led finance; equity rounds; M&A support |
| Amdocs Ltd. (Latin America Division) | Finance Manager | Not disclosed | Accounting, reporting, treasury, portfolio mgmt., M&A support |
| Notal Vision | CFO & Business Development | Not disclosed | Led all financial functions; strategic partner M&A activities |
| GE Healthcare Israel | Controller | Not disclosed | Financial control responsibilities |
| Deloitte LLP | Various (early career) | Not disclosed | Audit/finance foundation |
External Roles
| Organization | Role | Start Date | Notes |
|---|---|---|---|
| Brainsway Ltd. | Chief Executive Officer | Feb 2023 | Commercial-stage neurostimulation company; no Lifeward-related party transactions disclosed |
Board Governance
- Independence: Board determined Levy is independent under Nasdaq listing standards; all members of the audit, compensation, and nominating committees are independent .
- Audit Committee: Member; Robert Marshall (Chair); committee met five times in FY2024 .
- Audit Committee Financial Expert: Board determined Levy qualifies as an “audit committee financial expert” under SEC Item 407(d) .
- Attendance: The Board held 13 meetings in 2024; all then-incumbent directors except Levy attended at least 75% of aggregate Board and committee meetings. Levy missed meetings due to work conflicts and timing issues related to residing in Israel (RED FLAG: below 75% attendance) .
- Executive Sessions: Board regularly holds executive sessions of independent directors without management .
| Committee | Role | Independent | Financial Expert | FY2024 Meetings |
|---|---|---|---|---|
| Audit Committee | Member | Yes | Yes | 5 |
Fixed Compensation (Director – FY2024)
| Component | Amount (USD) | Detail |
|---|---|---|
| Annual Retainer | $22,570 | Non-employee director annual retainer |
| Board Meeting Fees | $7,825 | Aggregate fees for attending Board meetings |
| Audit Committee Member Fee | $4,052 | Compensation for audit committee service |
| Total Cash Fees | $34,447 | Sum of components |
Performance Compensation (Director Equity Program)
| Element | Value/Terms | Vesting | Notes |
|---|---|---|---|
| Initial RSU Award | $50,000 grant-date value | Vests in four equal quarterly installments starting three months from grant | Granted upon appointment; accelerated upon certain change-of-control events; may be paid in cash at committee discretion to preserve equity |
| Annual RSU Award | $50,000 grant-date value | Vests in four equal quarterly installments starting three months from grant | Annual grants; accelerated upon certain change-of-control events; may be paid in cash to preserve equity |
| FY2024 Stock Awards (Levy) | $0 | Not applicable | Levy did not receive RSUs in 2024; all compensation was cash |
| Clawback Provisions | Discretionary recoupment/forfeiture | N/A | Plan allows reduction/recoupment upon specified events (e.g., misconduct, restatement) |
Performance metrics: No performance-based metrics (e.g., Revenue, EBITDA, TSR) are disclosed for non-employee director equity; RSUs are time-based with quarterly vesting (no performance conditions) .
Other Directorships & Interlocks
| Company | Role | Committee Roles | Potential Interlocks/Conflicts |
|---|---|---|---|
| None disclosed | — | — | No related-party transactions or interlocks disclosed involving Levy |
Expertise & Qualifications
- Finance and senior management experience in medical devices (CFO/COO/CEO roles) .
- Audit Committee Financial Expert designation under SEC rules; financially literate under Nasdaq rules .
- Education: BA in Accounting & Economics; LLM; CPA (Israel) .
Equity Ownership
| Metric | Nov 20, 2024 | Jun 23, 2025 |
|---|---|---|
| Ordinary Shares Beneficially Owned | 15,656 | 15,656 |
| Ownership % of Shares Outstanding | <1% | <1% |
| Options (Exercisable/Unexercisable) | None disclosed as outstanding | Not disclosed as outstanding |
| RSUs Outstanding (Unvested) | None as of Dec 31, 2024 | Not disclosed |
- Shares pledged as collateral: No pledging disclosed in the security ownership sections .
- Stock ownership guidelines and compliance: Not disclosed in proxy materials .
Governance Assessment
- Strengths: Independent director with robust finance and medical device operating experience; designated audit committee financial expert; audit committee engaged in oversight and recommended FY2024 audited financials inclusion and auditor selection (EY member firm) for FY2025, supporting reporting integrity .
- Concerns/RED FLAGS: Sub-75% attendance across Board and committee meetings in 2024 due to work conflicts and Israel-based timing; this is a notable engagement risk for audit oversight . In 2024 compensation was entirely cash with no equity grant, reducing year-to-year “skin in the game” alignment versus RSU policy intent .
- Compensation structure signals: Director equity program is time-based (no performance metrics), with change-of-control acceleration; compensation committee may pay cash in lieu of equity to preserve shares—used in 2024 for Levy—potentially weakening long-term alignment if repeated .
- Related-party/Conflicts: No related-party transactions involving Levy disclosed; audit committee approves all related-person transactions per charter and risk oversight framework .