Rachel Vaknin
Microbot MedicalAbout Rachel Vaknin
Rachel Vaknin is Chief Financial Officer (CFO) of Microbot Medical since April 2022 after serving as VP Finance beginning January 2022; she is 46 years old . Her prior experience includes CFO of Imagry (2017–2021) and FP&A Department Manager at Mellanox Technologies (2004–2016), leading FP&A, quarterly reporting, grants management, and SOX controls—capabilities aligned to cost discipline and financing execution at MBOT . Her compensation is tied to milestone-based bonuses (target 35% of salary in 2025) and performance-based stock options, but specific operational metrics (e.g., revenue/EBITDA growth, TSR) are not disclosed; company-wide insider trading policies apply .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Microbot Medical | VP Finance | Jan 2022–Apr 2022 | Stood up finance leadership ahead of CFO appointment; supports quarterly reporting and governance |
| Microbot Medical | CFO | Apr 2022–Present | Led finance through cost restructuring and capital raises; compensation structure adjusted to milestones and performance options |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Imagry | CFO | Sep 2017–Dec 2021 | Oversaw finance for autonomous technologies; milestone-based financial leadership |
| Mellanox Technologies | FP&A Department Manager | Apr 2004–Dec 2016 | Managed FP&A, quarterly financial statements, grants, SOX controls; built BI KPIs |
Fixed Compensation
| Year/Term | Base Salary | Notes |
|---|---|---|
| 2022 | NIS 32,000/month + NIS 8,000/month Global Overtime | As set in the Vaknin Agreement (Nov 22, 2021) |
| 2023 | Increased to $170,000; reduced to NIS 35,000/month under May 2023 cost plan; full salary reinstated effective Nov 1, 2023 | Adjustment under cost reduction; reinstatement timing disclosed |
| 2025 (fiscal year) | NIS 720,000/year | Per Feb 5, 2025 amendment to Vaknin Agreement |
| Benefit Contributions | Provision | Notes |
|---|---|---|
| Severance | 8.33% of salary | Company-funded to severance pay fund |
| Pension | 6.5% of salary | Company-funded pension savings |
| Education fund | 7.5% of salary | Company-funded educational fund |
| Auto allowance | Up to NIS 1,000/month + expenses/taxes | Ongoing per agreement |
Performance Compensation
Annual Cash Bonus
| Year | Target Bonus % | Actual Bonus | Notes |
|---|---|---|---|
| 2023 | 35% (increased from 25% in Feb 2024; applies thereafter) | 150,000 NIS (≈$41,000) | 2023 bonus amount disclosed; target % increase noted |
| 2024 | 35% | 210,000 NIS (≈$58,000) | Paid for 2024 fiscal year |
| Sep 17, 2025 (one-time) | n/a | ~$32,500 | Special cash bonus granted by Compensation Committee |
Equity Awards (Grants and Vesting)
| Grant Date | Type | Quantity | Performance-based (Y/N) | Vesting Status/Notes |
|---|---|---|---|---|
| Original (Agreement) | Stock options | 20,000 | N | Initial equity in Vaknin Agreement |
| Aug 2023 | Stock options | 17,500 | N | Granted under annual program |
| Feb 2024 | Stock options | 52,500 | Y (17,500 PB) | 4,375 PB options vested as of Feb 5, 2025 |
Outstanding Equity Awards at Fiscal Year-End
2023 (as of Dec 31, 2023):
| Option Exercise Price | Exercisable | Unexercisable | Expiration |
|---|---|---|---|
| $6.48 | 12,500 | 7,500 | 01/26/2032 |
| $4.80 | 4,750 | 5,250 | 07/18/2032 |
| $3.73 | 5,200 | 7,800 | 12/21/2032 |
| $2.43 | — | 17,500 | 08/01/2033 |
2024 (as of Dec 31, 2024):
| Option Exercise Price | Exercisable | Unexercisable | Expiration |
|---|---|---|---|
| $6.48 | 18,500 | 1,500 | 01/26/2032 |
| $4.80 | 7,750 | 2,250 | 07/18/2032 |
| $3.73 | 9,100 | 3,900 | 12/21/2032 |
| $2.43 | 8,312 | 9,188 | 08/01/2033 |
| $1.2684 | 17,500 | — | 02/22/2034 |
| $1.2684 | 5,687 | 11,813 | 02/22/2034 |
| $1.25 | 4,375 | 2,625 | 02/26/2034 |
Performance metrics: annual cash bonus is “based on certain milestones” (not detailed); February 2024 grant included performance-based options with partial vesting by Feb 5, 2025 .
Equity Ownership & Alignment
| As-of Date | Beneficial Ownership (Shares) | % of Outstanding | Notes |
|---|---|---|---|
| Apr 15, 2025 | 80,449 | <1% | Based on 34,744,476 shares outstanding; includes securities exercisable within 60 days |
- Hedging/pledging: Company has insider trading policies; no explicit disclosure in cited sections regarding hedging or pledging by Vaknin .
- Ownership guidelines: Not disclosed in cited materials.
- Alignment: Meaningful option exposure with multi-year expirations and a mix of performance-based grants; low current share ownership percentage .
Employment Terms
- Agreement dates: Employment agreement dated Nov 22, 2021; amended May 15, 2023 and Feb 5, 2025 .
- Termination notice: Either party may terminate with two months’ prior written notice; “for cause” termination without advance notice .
- Non-compete/non-solicit: Customary restrictions; confidentiality and IP ownership terms included .
- Severance/pension/education contributions: 8.33% severance, 6.5% pension, 7.5% education fund paid by company; disability insurance may apply .
- Change-of-control economics: Not specifically disclosed for Vaknin in cited sections; CEO’s accelerated vesting is disclosed separately, but no analogous provision for Vaknin is shown in the excerpts .
- Insider trading and blackout policy references: Policies described and filed with FY2024 10-K; posted on website .
Compensation Structure Analysis
- Shift in at-risk pay: Target bonus increased from 25% to 35% beginning in 2024/2025, raising variable pay exposure .
- Equity mix: 2024 grant included 17,500 performance-based options; partial vesting indicates milestone-tied pay; multi-strike, staggered maturities may mitigate immediate selling pressure .
- Discretionary awards: One-time special cash bonus of ~$32,500 awarded in Sept 2025 reflecting compensation committee discretion and past salary waivers under 2023 cost plan .
Investment Implications
- Retention and alignment: Increased target bonus and performance-based options strengthen pay-for-performance alignment, but sub-1% equity ownership suggests modest direct shareholder alignment; option overhang and staggered maturities reduce near-term selling pressure .
- Contract protections: Standard non-compete/non-solicit and structured Israeli benefit contributions imply predictable severance economics; lack of disclosed change-of-control acceleration for Vaknin reduces golden parachute risk vs. CEO .
- Execution signals: Partial vesting of performance-based options and recurring milestone bonuses indicate tangible progress against internal objectives; discretionary bonus in 2025 acknowledges prior salary sacrifices and may reflect confidence in commercialization milestones .
- Monitoring: Track future Form 4 filings for exercises of 2024/2023 grants and any new performance-based awards; confirm any future disclosure of specific performance metrics tied to CFO bonus plan to refine pay-for-performance assessment .