Mirit Horenshtein Hadar
About Mirit Horenshtein Hadar
Chief Financial Officer and Secretary of Silexion Therapeutics Corp (Nasdaq: SLXN); appointed effective at the August 15, 2024 Business Combination closing. Certified Public Accountant with 15+ years in corporate finance at public and private pharma/high-tech companies, previously CFO at Gouzy Israel (Nasdaq: GAUZ) and VP Finance at Foamix (now VYNE). Silexion is pre-revenue and development-stage; 2024 filings emphasize no product revenues and ongoing capital needs, with R&D/G&A transitioning from 2024 one-time SPAC-related equity comp to normalized 2025 run-rate. Her Q3 2025 commentary highlighted $9.5M financing, improved cash and shareholders’ equity, and progress toward 2026 Phase 2/3 initiation.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Gouzy Israel (GAUZ) | Chief Financial Officer | Pre-2024 (not disclosed) | Senior finance leadership for a Nasdaq-listed entity |
| Foamix Pharmaceuticals (now VYNE) | VP Finance | Pre-2024 (not disclosed) | Built public-company finance capabilities in dermatology-focused pharma |
| Silexion Therapeutics Ltd. | EVP Finance (pre-SPAC) | Pre-2024 (not disclosed) | Led finance during transition toward public listing; appointed CFO at SPAC close |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Various (industry) | CPA | Not disclosed | Professional designation supporting senior finance roles |
Fixed Compensation
| Metric | 2023 | 2024 | Notes |
|---|---|---|---|
| Base Gross Salary ($) | $26,238 | $233,532 | 2023 reflects 4.5 months consulting; 2024 full year |
| Employment Agreement Base Salary ($) | — | $234,210 (USD, based on 2023 avg FX) | CFO employment agreement terms |
| All Other Compensation ($) | — | $89,267 | Car, pension/compensation/education fund contributions |
| Cash Bonus | Not disclosed | Not disclosed | No specific annual bonus disclosed in 2024 proxy |
Performance Compensation
| Grant Type | Grant Date | Shares/Units | Fair Value | Metric | Payout | Vesting |
|---|---|---|---|---|---|---|
| RSUs (settled in shares) | 2024 | 6,308 RSUs (pre-split) | $447,291 | No explicit performance metric disclosed | RSUs vested/settled | Accelerated vesting at Business Combination closing (Aug 15, 2024) |
| Options | — | — | — | — | — | No options outstanding for Mirit as of 12/31/2024 |
Notes
- The company stated it is developing a new executive compensation program post-Closing; no detailed performance metric weightings disclosed for bonuses/PSUs in 2024.
Equity Ownership & Alignment
| Snapshot Date | Shares Beneficially Owned | Options Exercisable | Ownership % |
|---|---|---|---|
| Aug 21, 2024 (post-Closing) | 56,772 | — | <1% |
| May 30, 2025 (pre 1-for-15 split) | 6,308 | — | <1% |
| July 15, 2025 (post 1-for-15 split effective July 29) | 421 | — | <1% |
- Vested vs unvested: 2024 RSUs vested upon Business Combination; no unexercised options reported for Mirit at 2024 year-end.
- Pledging/hedging: Company insider trading policy prohibits pledging, margin accounts, short-selling, and derivative hedging of company securities. Preclearance and trading-window rules apply to Access Insiders (includes CFO).
Employment Terms
- Appointment date: Effective at Business Combination closing (Aug 15, 2024) as CFO; also serves as Secretary.
- Base salary: $234,210 per employment agreement (USD based on 2023 average FX), plus customary benefits (pension, education, severance funds).
- Insider Trading Policy: Requires preclearance; prohibits trading outside windows and bans hedging/pledging/margin; 10b5-1 plans require cooling-off periods and good-faith certifications.
- Clawback Policy: Robust Dodd-Frank-compliant policy to recover erroneously awarded incentive compensation following restatements; applies to current/former officers; no indemnification.
- Change-of-control/equity treatment: 2024 Equity Plan provides for potential adjustments, substitution, acceleration or cash settlement of awards upon Corporate Transactions; administrator discretion; repricing permitted under plan terms. (Plan-level, not CFO-specific severance multiples disclosed.)
Compensation Structure Analysis
- Mix and alignment: 2024 compensation included substantial equity (RSU grant of 6,308 pre-split units; $447,291 fair value), and base salary ~$234k; equity accelerated at the SPAC closing, front-loading realizable value and potentially influencing near-term liquidity.
- Shift in equity pool: Board proposed/approved significant increases to the 2024 Equity Incentive Plan pool in June 2025 to reach ~10% of fully diluted shares, citing inadequate pool and director grants consuming availability—highlighting ongoing equity use across management and directors.
- Performance metrics: Company is constructing pay-for-performance program post-Closing; 2024/early 2025 disclosures do not specify annual bonus KPIs (e.g., TSR, revenue/EBITDA). Pre-revenue status and clinical milestones suggest future KPI focus on R&D progress, financing and listing compliance.
Vesting Schedules and Insider Selling Pressure
- RSU vesting: 2024 RSUs accelerated and settled at Aug 15, 2024 closing, increasing free-trading shares (subject to insider windows).
- Trading constraints: CFO subject to trading windows, preclearance, and 10b5-1 cooling-off; hedging/pledging prohibited—reducing forced-sale risk from margin or collateral.
- Form 4s: Not disclosed in filings reviewed here; insider-trading policy mandates prompt reporting and compliance with Rule 144 as applicable.
Track Record, Value Creation, Execution Risk
- Financing and equity: Q3 2025 updates noted $9.5M completed financings, improving cash/shareholders’ equity and aiding Nasdaq listing compliance—important given 2025 extraordinary meeting to increase authorized shares to maintain equity standard.
- Operating efficiency: R&D and G&A decreased materially vs prior-year periods due to absence of 2024 SPAC-related non-cash equity comp; ongoing spend for API manufacturing/formulation and clinical readiness.
- Strategic progress: Company outlined plans for 2026 Phase 2/3 LAPC trial and preclinical advances across KRAS mutations; CFO’s role central to capital planning and listing compliance strategies.
Equity Ownership & Governance Flags
- Related party: CFO is spouse of CEO Ilan Hadar; disclosed in 2025 DEF 14A (employment agreements section). Governance committees and policies in place; independent audit and compensation committees established.
- Ownership scale: CFO’s ownership <1% and primarily via vested 2024 RSUs; no options reported outstanding.
- Policies: Strong anti-hedging/pledging and clawback frameworks; insider trading compliance enforced via CFO-led preclearance.
Investment Implications
- Alignment: Equity-heavy 2024 compensation (RSUs) linked to the SPAC closing created immediate alignment via share ownership, though acceleration reduced long-term vesting retentiveness; future awards under expanded equity pool likely key to ongoing alignment.
- Retention risk: Absence of disclosed CFO-specific severance/change-of-control multiples reduces clarity on retention economics; plan-level corporate transaction provisions exist but are discretionary.
- Governance: Spousal relationship with CEO and low ownership percentage may warrant monitoring of independence and board oversight; presence of independent audit/compensation committees and robust policies mitigates risk.
- Dilution risk: Authorized share capital increases (EGM July 2025) and equity-line/warrants/note conversions highlight ongoing dilution potential necessary to maintain Nasdaq equity standards and fund trials—portfolio managers should track financing cadence and dilution impact.
Sources: Appointment and roles ; compensation tables and narrative ; ownership snapshots ; insider trading/clawback policies ; plan change-of-control mechanics ; authorized share capital EGM ; Q3 business/financial update .