SHARE-BASED COMPENSATION |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Compensation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SHARE-BASED COMPENSATION |
NOTE 11 - SHARE-BASED COMPENSATION:
In
conjunction with its Series A-4 Preferred Share financing, Silexion issued warrants to acquire 12 Series A-4 Preferred Shares to a service
provider who assisted in raising the funds, which were recorded as part of issue expenses. These warrants carried an exercise price as
those issued to the investors in such round. The warrants were recognized as issuance costs and the portion attributed to the issuance
of Series A-4 Preferred Shares was classified as part of the shareholders’ equity. The portion attributed to the issuance of the
warrants was recognized as financial expenses. These warrants were automatically exercised on a cashless basis upon the Closing of the
Transactions.
As
of December 31, 2024, the Board of Directors had approved a pool of 63,953
ordinary shares for grant to Company employees, consultants, directors and other service providers under the Company’s 2024 Equity
Incentive Plan (the “2024 Plan”).
Under
Silexion’s 2013 Share Option Plan and 2023 Equity Incentive Plan (collectively, the “Silexion Plans,” and, together
with the 2024 Plan, the “Plans”), options to purchase ordinary shares of Silexion could have been granted to certain entities
and individuals. Each option granted under the Silexion Plans is now exercisable for ordinary shares of the Company, until 10
years from the date of grant, or earlier upon cessation of employment or engagement of the grantee and certain other occurrences.
Following
adoption of the 2024 Plan in connection with the Closing of the Transactions, future grants to Company employees and directors will only
be made under the 2024 Plan, although outstanding grants under the Silexion Plans will continue to be governed by the terms of those plans.
Grants to employees are made in accordance with the Plans and are carried out within the provisions of Section 102 of the Israel
Income Tax Ordinance, under the capital gains track described in subsection (b)(2) of Section 102. In accordance with such track selected
by the Company and the provisions associated with it, the Company is not entitled to claim a tax deduction for the employee benefits.
Awards
outstanding under the Silexion Plans prior to the Acquisition Merger accelerated immediately upon Closing, such that the New Silexion
options into which Silexion options were converted were fully vested.
The
Group's expenses related to equity grants amounted to a total of $5,862
and $130
in 2024 and 2023, respectively. As of December 31, 2024, 63,953
New Silexion ordinary shares remain available for grant under the 2024 Plan.
Summary
of outstanding and exercisable options:
Below
is a summary of the Company's (or for periods prior to the Closing of the Transactions, Silexion’s) stock-based compensation activity
and related information with respect to options granted to employees and non-employees for the year ended December 31, 2024 and 2023:
* Represents
an amount less than $1 In
2023 no option were exercised by employees and nonemployees.
RSUs
granted to employees and non-employees:
On
July 4, 2024, Silexion’s board of directors approved granting 78,650
fully vested RSUs to Silexion’s employees and directors, for which Silexion recognized an expense amounting to $5,578
in total.
The
fair value for the RSUs granted in 2024 is based on the following assumptions:
The
fair value of equity compensation granted during 2024 was $5,578.
Options
granted to employees and non-employees:
In
the year ended December 31, 2024 and 2023, no options were granted, neither to employees nor to non-employees.
For
the year ended December 31, 2024, there are no nonvested options outstanding.
As
of December 31, 2024, there was no remaining unrecognized compensation cost related to unvested stock options granted under the Silexion
Plans, as all outstanding options were fully accelerated during 2024.
The
share-based compensation expense by line item in the accompanying consolidated statements of operations is summarized as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||