Ilan Hadar
About Ilan Hadar
Ilan Hadar, 55, is Chairman of the Board (since May 2024) and Chief Executive Officer (effective upon the August 15, 2024 business combination) of Silexion Therapeutics Corp. He holds an MBA in Finance and Business Entrepreneurship and a BA from The Hebrew University of Jerusalem, and has 20+ years of multinational managerial experience across pharma and high‑tech, including Foamix, Pfizer Israel, HP Indigo, BAE Systems, and Mango DSP . Under his leadership, Silexion regained Nasdaq compliance in September 2025 and strengthened cash to $9.2 million and shareholders’ equity to $7.0 million as of Q3 2025, supporting Phase 2/3 readiness for SIL204 in 1H 2026 .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Silexion Therapeutics Corp | Chairman of the Board | May 2024–present | Board leadership post-SPAC; governance and financing oversight . |
| Silexion Therapeutics Corp | Chief Executive Officer | Aug 2024–present | Regained Nasdaq compliance; funding and development progress toward SIL204 trials . |
| Silexion Therapeutics Ltd. (Israel) | Managing Director | Apr 2022–Aug 2024 | Led pre‑Business Combination operations and equity plans . |
| Painreform Ltd (PRFX) | Chief Executive Officer | Nov 2020–post-BC (to be relinquished) | Led Nasdaq‑listed Israeli biotech; capital markets exposure . |
| Foamix Pharmaceuticals (VYNE) | Country Manager Israel & CFO | 2014–Aug 2020 | Built organization and launched U.S. topical drugs; M&A and capital markets . |
| Pfizer PFR Pharmaceuticals Israel | Finance Director | Prior to 2014 | Oversaw commercial, financial, operational activities . |
| HP Indigo | Finance Manager | Pre‑Pfizer tenure | Financial management at digital printing leader . |
| BAE Systems Israel | Finance Director | Pre‑HP Indigo | Led financial activities at global defense firm’s Israel unit . |
| Mango DSP | Chief Financial Officer | 1998–2006 | CFO of intelligent video solutions provider . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Kadimastem (public Israeli biopharma) | Director | 2019–2022 | Public company board experience . |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Gross Salary ($) | $182,976 | $240,560 |
| Stock Awards ($) | – | $1,192,785 |
| All Other Compensation ($) | $70,638 | $107,283 |
| Total ($) | $253,614 | $1,540,628 |
Current employment terms: Post‑Business Combination, his employment agreement is to be amended to an annual base salary of $357,820 with customary benefits (providence fund, education fund, severance fund, fringe benefits) .
Performance Compensation
- RSUs: In 2024, RSUs were granted that could be settled for 16,821 Silexion Israel shares; vesting accelerated at the August 15, 2024 Closing, converting into Silexion shares per the exchange ratio .
- Options: Granted in 2022 (14,339 options), original vesting over 48 months; accelerated and fully vested at Closing. Option exercise price $60.51; expiration 03/24/2032 . Post the July 2025 1‑for‑15 reverse split, the equivalent exercisable options reflected as 956 at $907.65 per share .
- Performance metrics/weightings: Not disclosed in proxy materials. The compensation committee oversees incentive plans and can adopt/change severance/CIC protections and other arrangements .
Equity Ownership & Alignment
| Metric | As of May 30, 2025 | As of July 15, 2025 |
|---|---|---|
| Beneficial ownership (shares) | 31,160; includes options | 2,078; includes options |
| Ownership % of outstanding | Less than 1% (“*”) | Less than 1% (“*”) |
| Options exercisable (#) | 14,339 | 956 (post 1‑for‑15 split) |
| Option exercise price ($) | $60.51 | $907.65 (post split) |
| Option expiration date | 03/24/2032 | 03/24/2032 |
Additional alignment and policy disclosures:
- Insider trading policy and committee charters are in place; code of conduct adopted pre‑Closing .
- Pledging/hedging: No pledging disclosures identified in the proxy tables/footnotes .
- Stock ownership guidelines: Not disclosed in available DEF 14A materials .
Employment Terms
- Role/tenure: CEO since Aug 15, 2024; Chair since May 2024 .
- Compensation: Base salary planned at $357,820; benefits per Israeli practice (providence, education, severance funds, fringe benefits) .
- Equity: 2022 options accelerated at Closing; 2024 RSUs accelerated and settled at Closing .
- Agreements: Indemnification agreements entered at Closing for directors/officers to fullest extent under Cayman law .
- Severance/change‑in‑control: No severance multiples or CIC cash terms disclosed; equity award acceleration on IPO/M&A (Business Combination) served as a single‑trigger vesting acceleration .
- Non‑compete/non‑solicit/clawback/tax gross‑ups: Not disclosed in the cited proxy materials .
- Related party: CFO and Secretary Mirit Horenshtein Hadar is spouse; her base salary $234,210 with customary benefits .
Board Governance
- Board independence: Majority independent; independent directors include Dror Abramov, Ruth Alon, Ilan Levin, Avner Lushi, Shlomo Noy, Amnon Peled .
- Committees (and chairs):
- Audit: Abramov (Chair), Alon, Peled; all independent; Abramov is Audit Committee Financial Expert .
- Compensation: Alon (Chair), Abramov, Peled; all independent .
- Corporate Governance & Nominating: Abramov, Levin, Peled, Alon; all independent .
- Attendance: In 2024 (post‑Closing), Board met 7 times; no director attended fewer than 75% of Board/committee meetings .
- Board service history: Hadar elected/re‑elected at the reconvened 2025 AGM (July 14, 2025) with 96.9% votes in favor (excluding abstentions) .
- Dual‑role implications: Hadar serves concurrently as Chair and CEO; committee leadership resides with independent directors, and a majority‑independent board addresses independence considerations .
Director Compensation (context for board governance)
- 2024 director equity: 22,070 RSUs (post 1‑for‑9 split) granted to each non‑employee director; fully vested at Closing .
- 2024 reported stock award values for certain directors: Abramov $313,800; Lushi $313,800; Noy $313,800; Levin $45,000 consulting fees for four and a half months post‑Closing .
Performance & Track Record
- Development plan: Preparing Phase 2/3 trials for SIL204; regulatory submissions planned in Israel (Q4 2025) and EU (Q1 2026); trial initiation anticipated 1H 2026 .
- Preclinical efficacy: SIL204 demonstrated strong efficacy across multiple KRAS‑driven cancer cell lines and mutations (including gastric cancer), supporting platform potential .
- Capital/Listing outcomes: Raised ~$9.5 million in Q3 2025; cash rose to $9.2 million; shareholders’ equity to $7.0 million; Nasdaq compliance confirmed September 23, 2025 .
Compensation Structure Analysis
- Year‑over‑year mix: 2024 total rose sharply versus 2023 due to substantial stock awards associated with Business Combination grants; base salary modestly increased .
- Equity award modifications: 2022 options and 2024 RSUs accelerated at Closing; post 1‑for‑15 reverse split adjusted option counts/exercise prices .
- Incentive governance: Compensation committee retains authority to adopt/amend severance, CIC protections, and equity plans .
Risk Indicators & Red Flags
- Capital strategy and dilution: Multiple reverse splits (Nov 27, 2024, and 1‑for‑15 effective July 29, 2025) and authorizations to increase equity pools/authorized shares to maintain listing and fund operations—implies ongoing dilution risk .
- Listing compliance pressure: Required actions to maintain Nasdaq minimum bid and equity standards; regained compliance as of Sept 23, 2025 .
- Related party context: CFO spouse relationship disclosed; audit committee oversees related party transaction reviews .
Equity Ownership & Director Voting Details (quantitative)
| Item | Value |
|---|---|
| Beneficial ownership (Hadar) as of May 30, 2025 | 31,160 shares; <1% ownership |
| Beneficial ownership (Hadar) as of July 15, 2025 | 2,078 shares; <1% ownership |
| Options exercisable (Hadar) | 14,339 at $60.51 expiring 03/24/2032 ; post split 956 at $907.65 |
| Director election vote (July 14, 2025) | Hadar: 96.9% for; 3.1% against; abstentions 286,785 |
Investment Implications
- Alignment: Hadar’s equity exposure (fully vested options; prior RSUs) and majority‑independent committees help balance his Chair/CEO dual role; no pledging disclosures noted .
- Financing/dilution risk: Strategy relies on frequent equity issuance (authorized share increases, reverse splits, warrant exercises, PIPE/ATM), implying continued dilution risk as trials advance .
- Execution: Clear milestones to Phase 2/3 initiation with CRO engagement and regulatory timelines; regained listing compliance and improved cash/equity reduce near‑term financing risk, but sustained capital needs remain typical for clinical‑stage oncology .