Amos Bar Shalev
Protalix BioTherapeuticsAbout Amos Bar Shalev
Independent director of Protalix BioTherapeutics (PLX), age 72, serving on the Board since July 2008 (previously a director of Protalix Ltd. from 2005) . He holds a B.Sc. in Electrical Engineering (Technion) and an MBA (Tel Aviv University), and received the highest technological achievement award from the Israeli Air Force . His background spans management and governance across Israeli technology and life science companies .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| TDA Capital Partners (Templeton Tadiran Fund manager) | Managing Director | 1997–2004 | Portfolio management; technology investing |
| Technorov Holdings (1993) Ltd. | Director; managed portfolio | 2004–2012 | Strategic oversight |
| Win Buyer Ltd. | President | 2004–2007 | Corporate leadership |
| Boards: Idanit (acquired by Scitex), Scitex Vision (acquired by HP), Verisity, Objet Geometrix (merged with Stratasys), NESS (acquired by BioNess) | Director | Various (prior) | Tech commercialization; M&A pathways |
| Golden Wings Investment Company Ltd.; Israeli Air Force Veterans Business Club VC | Director | Prior | Networked venture governance |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Interna Therapeutics Ltd. (formerly Aposense Ltd.) | Director | 2011–present | Privately-held pharmaceutical, continued post merger of Sirvir into Interna in Nov-2024 |
| Sirvir Ltd. (subsidiary of Interna Therapeutics) | Director | 2014–Nov 2024 | Merged into Interna Therapeutics |
| Ripple Ltd. (formerly Steam CC Ltd.), Velox Ltd., Sun Light Ltd. | Director | Prior | Israeli tech companies |
Board Governance
- Independence: Board determined Amos Bar Shalev is independent under NYSE American and SEC rules .
- Committee assignments (current):
- Audit and Finance Committee: member; designated “audit committee financial expert” .
- Compensation Committee: Chair .
- Nominating Committee: Chair .
- Attendance and engagement:
- 2024: all directors attended at least 75% of Board/committee meetings; Bar Shalev participated in the 2024 annual meeting .
- 2023: all directors attended at least 75% of meetings .
- Non-management directors hold executive sessions at least twice per year .
Fixed Compensation
| Component | 2023 | 2024 |
|---|---|---|
| Annual cash retainer ($) | $41,250 | $45,000 |
| Committee chair fees | Not separately disclosed (included in retainer) | |
| Meeting fees | Not disclosed | |
| Total cash ($) | $41,250 | $45,000 |
- Program change (Sept-2023): non-chairman directors granted options to purchase 61,676 shares at $1.66, vesting quarterly over 12 increments across 3 years; annual cash retainer increased to $45,000 (Chairman: $70,000 and 85,715 options at $1.75) .
Performance Compensation
| Award Type | Grant details | Vesting | Fair value recognition |
|---|---|---|---|
| Stock Options (Director program, 2023) | 61,676 options at $1.66 (non-chair directors) | Quarterly in 12 equal tranches over 3 years | 2023 option award fair value for Bar Shalev: $38,660 |
| Stock Options (Form 4, 2025) | 15,000 options (right to buy) at $1.64; director [Form 4 URL] | Not disclosed in Form 4; typical time-based | Transaction reported Sep 3, 2025 |
Performance metrics framework (Plan-level; typically applied to executive/performance awards): earnings per share, total shareholder return, operating margin, ROE, ROA, operating income, net operating income, cash flow, revenue, EBITDA, market share, etc. Directors generally receive time-based options; no director-specific performance metrics disclosed .
Other Directorships & Interlocks
| Company | Public/Private | Potential interlock/conflict |
|---|---|---|
| Interna Therapeutics (formerly Aposense) | Private | No transactions with PLX disclosed |
| Sirvir Ltd. | Private (merged into Interna) | No transactions with PLX disclosed |
| Multiple Israeli tech boards (historical) | Private/Public (historic) | No related-party transactions disclosed for Bar Shalev |
- Related-party review: Audit and Finance Committee reviews related-party transactions. 2025 proxy disclosed PLX consulting with Catenion (~$1.4M) tied to a director nominee (Christian Elze) but no relationship with Bar Shalev individually .
Expertise & Qualifications
- Technology company management; investment and portfolio oversight across Israeli tech and life science sectors .
- Financial literacy and “audit committee financial expert” designation .
- Engineering and business degrees; recognized for technological achievements .
Equity Ownership
| Metric | April 29, 2024 | April 30, 2025 | Notes |
|---|---|---|---|
| Common shares outstanding (beneficial ownership) | 168 shares | 168 shares | As of record dates |
| Options exercisable within 60 days | 72,154 | 110,352 | Increase year-over-year |
| Unvested options (not vesting within 60 days) | 79,522 | 41,324 | Decrease year-over-year |
| Ownership as % of shares outstanding | <1%* | <1%* | *Less than 1% |
| Shares pledged/hedged | Prohibited by policy (pledging/hedging disallowed) | Policy applies | Company-wide policy |
Insider Trades (Form 4) – 2025
| Filing Date | Transaction Date | Type | Qty | Price | Post-Transaction Ownership | Security | Link |
|---|---|---|---|---|---|---|---|
| 2025-11-19 | 2025-11-18 | Sale (S) | 168 | $1.87 | 0 | Common Stock | |
| 2025-09-04 | 2025-09-03 | Award (A) | 15,000 | $1.64 | 15,000 | Stock Options (Right to Buy) | |
| 2025-09-04 | 2025-09-03 | Award (A) | 7,500 | $0.00 | 7,500 | Common Stock (Indirect) |
Governance Assessment
- Strengths:
- Independent director; chairs Compensation and Nominating; member and financial expert on Audit & Finance — strong governance coverage and financial oversight .
- Consistent attendance: at least 75% in 2023/2024; participated in annual meeting, indicating engagement .
- Company insider trading policy prohibits pledging/hedging, aligning with shareholder-friendly practices .
- Alignment and incentives:
- Director compensation skewed to modest cash retainer with time-based options; 2023 option grant and 2025 option award support equity alignment .
- Low direct share ownership and Form 4 sale of his 168 shares in Nov-2025 reduce “skin-in-the-game,” with exposure primarily via options (observed potential alignment gap) .
- Signals from shareholder votes:
- 2025 say-on-pay approval recorded 16.44M For vs 7.49M Against (384k abstain; 12.68M broker non-votes), reflecting mixed support for executive pay and broader governance scrutiny .
- Potential conflicts:
- No Bar Shalev-related party transactions disclosed in 2023–2024; related-party engagement disclosed for a different director nominee (Catenion) with committee oversight, mitigating conflict risk for Bar Shalev .
- RED FLAGS:
- Minimal direct share ownership and divestment of held common shares in 2025 could be perceived as lower long-term alignment despite option holdings .
- Concentration of committee chair roles (Compensation and Nominating) alongside Audit membership raises workload/oversight concentration; monitor performance and independence safeguards .
Appendix: Board & Committee Structure (current)
| Committee | Chair | Members |
|---|---|---|
| Audit and Finance | Shmuel “Muli” Ben Zvi, Ph.D. | Ben Zvi; Amos Bar Shalev; Aharon Schwartz, Ph.D. |
| Compensation | Amos Bar Shalev | Bar Shalev; Ben Zvi; Schwartz |
| Nominating | Amos Bar Shalev | Bar Shalev; Eliot Richard Forster, Ph.D.; Schwartz |
Notes
- Independence determinations for all committees (Audit, Compensation) confirmed under NYSE American and SEC rules .
- Executive sessions of non-management directors held at least twice per year .
- Director compensation program details and vesting mechanics updated in Sept-2023 .