Merav Bassan
About Merav Bassan
Dr. Merav Bassan is Chief Development Officer at BiomX Inc. (PHGE), serving since August 26, 2019 under an employment agreement with BiomX Israel; as of 2025 her monthly base salary is NIS 62,800 ($16,978) plus NIS 15,700 ($4,244) for up to 40 off-hours per month, with a 90-day notice period and non‑statutory severance currently at six months after a March 2025 cash adjustment . Company “Pay vs Performance” disclosures show Total Shareholder Return values of $11.69 for 2023 and $4.56 for 2024 (value of a fixed $100 initial investment), alongside net income of $26,169k (2023) and $17,727k (2024) .
Past Roles
- Company filings reviewed include current role and employment terms but do not provide a detailed biographical work history for Dr. Bassan beyond service as Chief Development Officer since 2019 .
External Roles
- No public company board or external role disclosures for Dr. Bassan were identified in the reviewed proxy statements .
Fixed Compensation
| Component | Terms | Source |
|---|---|---|
| Base salary (monthly) | NIS 62,800 (~$16,978) | |
| Additional off-hours payment (monthly, up to 40 hrs) | NIS 15,700 (~$4,244) | |
| Pension/severance contributions | 8.33% to severance; 7.30% (manager’s insurance) or 6.50% (pension fund) to provident/pension; up to 2.50% for disability insurance (75% salary coverage) | |
| Education fund contributions | 7.50% of monthly salary | |
| Car/transport allowance (monthly) | NIS 2,500 (~$676–$694) | |
| Notice period | 90 days | |
| Non‑statutory severance | 9 months originally; reduced to 6 months following March 24, 2025 cash payment equal to three months’ salary |
Performance Compensation
Annual Cash Bonus Policy and Outcomes
| Metric | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Target bonus eligibility (% of salary) | Up to 40%–50% (company policy, NEOs) | Up to 40%–50% | Up to 40%–50% | Up to 40%–50% |
| Actual bonus ($) | $94,138 | — | $101,145 | $31,833 (accrued post March 2024 PIPE) |
| Performance basis | Corporate/individual goals: clinical/development milestones, budget, strategic objectives |
2024 bonuses were accrued following completion of the March 2024 private placement (PIPE) .
Equity Awards – RSUs (Stock Awards)
| Metric | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| RSU grant-date fair value ($) | — | — | — | $31,273 (fully vested at grant; fair value at $0.99/share) |
2024 RSUs vested fully on grant; underlying shares issued on grant date and not subject to continued service .
Equity Awards – Options (Grant-Date Fair Value)
| Metric | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Option awards ($) | $240,541 | $206,332 | $153,218 | $130,859 |
Outstanding Equity Awards (as of 12/31/2024)
| Grant Date | Exercisable (#) | Unexercisable (#) | Exercise Price ($) | Expiration |
|---|---|---|---|---|
| 10/10/2019 | 19,000 | — | 2.75 | 10/10/2029 |
| 03/30/2021 | 1,171 | 79 | 2.75 | 03/30/2031 |
| 03/29/2022 | 4,910 | 2,233 | 2.75 | 03/29/2032 |
| 08/22/2022 | 4,219 | 3,281 | 6.60 | 08/22/2032 |
| 03/01/2023 | 4,375 | 5,625 | 4.00 | 03/01/2033 |
| 07/11/2024 | — | 95,000 | 3.63 | 07/11/2034 |
Standard vesting: 25% on first anniversary of grant; remaining 75% in 12 equal quarterly installments, subject to service. Change‑in‑control protection: vesting accelerates if terminated within 12 months post‑CIC due to involuntary termination without cause or voluntary resignation with good reason (per grant agreements) .
Note: Company disclosures indicate option repricing/exchanges occurred in Oct–Nov 2023, affecting “compensation actually paid” values in 2023–2024 .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Common shares owned | 111,346 shares |
| Options exercisable within 60 days | 68,062 options |
| Total beneficial ownership | 179,408 shares (including exercisable derivatives) |
| Ownership % of outstanding shares | Less than 1% |
| Anti‑hedging/pledging policy | Insider trading policy prohibits short sales, derivatives, margin accounts, and hedging; policy section explicitly titled “Prohibition Against Pledging and Anti‑Hedging” |
| Stock ownership guidelines | Not disclosed in reviewed proxy materials |
Employment Terms
| Term | Provision |
|---|---|
| Employment start date | August 26, 2019 (BiomX Israel employment agreement) |
| Role | Chief Development Officer |
| Monthly base salary | NIS 62,800 (~$16,978) |
| Off‑hours monthly payment | NIS 15,700 (~$4,244) for up to 40 hours |
| Benefits | Pension/severance (8.33% severance fund; 7.30%/6.50% provident/pension); disability insurance up to 2.50%; education fund 7.50% |
| Car/transport allowance | NIS 2,500 (~$676–$694) per month |
| Severance | Non‑statutory 9 months, reduced to 6 months after March 24, 2025 cash bonus equal to 3 months’ salary (paid in April 2025) |
| Notice period | 90 days by either party |
Investment Implications
- Pay–for–performance alignment is moderate: cash bonuses are contingent on corporate/individual milestones, with eligibility up to 40–50% of salary; 2024 payouts were smaller ($31.8k) despite post‑PIPE accruals, while equity remains the predominant incentive via options .
- Retention risk manageable: six‑month non‑statutory severance, benefits, and 90‑day notice provide continuity; options feature CIC acceleration, mitigating turnover risk around transactions .
- Potential future selling pressure: sizeable 07/11/2024 unvested grant (95,000 options at $3.63) could add overhang upon vesting/exercisability; RSUs granted in 2024 were fully vested at grant, providing immediate liquidity rather than long‑dated retention .
- Governance red flag: option repricing/exchanges in late 2023 increased “compensation actually paid,” a shareholder‑sensitive practice that can weaken incentive rigor if not well‑justified .
- Alignment safeguards: company policy prohibits hedging, short selling, margin accounts, and references pledging prohibitions, reducing misalignment risks from derivative/leveraged positioning; no pledging or ownership guideline shortfalls are disclosed for Dr. Bassan .