Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-25

Protalix BioTherapeutics (PLX)

CEO Dror Bashan was paid $1,166,934 in fiscal year 2025, ↓ down 23.6% from fiscal year 2024, the 1st percentile of its disclosed peer group (SEC filing 0001104659-26-053016 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$1,166,934 ↓
Dror Bashan total, FY2025
1st
CEO pay percentile vs peers
—
CEO-to-median pay ratio
80.93%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Dror Bashan (President and Chief Executive Officer), FY2025 total compensation $1,166,934 (base salary $401,836) [exec_comp, SEC accession 0001104659-26-053016, filed 2026-04-30]

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PLX's next annual pay disclosure, estimated April 30, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Dror Bashan$401,836$279,491$190,015$169,017$0—$126,575$1,166,934
President and Chief Executive Officer
Eyal Rubin240,576181,208183,39331,4520—195,832832,461
Senior Vice President and Chief Financial Officer
Yaron Naos232,78490,11577,80479,8260—95,240575,769
Senior Vice President, Chief Operating Officer
Gilad Mamlok133,91900229,7290041,577405,225
Senior Vice President and Chief Financial Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Dror Bashan$1,166,934$1,527,792—↓ −360,858
Eyal Rubin832,461859,466—↓ −27,005
Yaron Naos575,769639,959—↓ −64,190
Gilad Mamlok405,225———

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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Companies that benchmark against PLX
No companies currently name PLX as a compensation peer in their most recent disclosure.

This is the complete answer, not a partial one — the list is never padded.

01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
Dror BashanCEO$1,166,934
Eyal RubinCFO$832,461
Gilad MamlokCFO$405,225
Yaron NaosCOO$575,769
01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Aharon Schwartz, Ph.DIndependent Director$71,708
Amos Bar ShalevIndependent Director$71,708
Christian ElzeDirector$20,076
Eliot Richard Forster, Ph.DIndependent Director$99,575
Gwen A. MelincoffIndependent Director$71,708
Pol F. Boudes, M.DIndependent Director$71,708
Shmuel "Muli" Ben Zvi, Ph.DIndependent Director$71,341
02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Yaron NaosOption45,8331.64—
Gilad MamlokOption548,1581.45—
Yaron NaosOption58,3331.1—
Yaron NaosOption63,7501.03—
Dror BashanRSU178,750—321,750
Dror BashanOption311,6671.64—
Yaron NaosRSU69,753—125,555
Dror BashanOption140,6251.03—
05

Incentive-plan design — the Compensation Discussion & Analysis

The primary goals of the Compensation Committee are to attract and retain the most talented and dedicated executives, to tie annual and long-term cash and stock incentives to the achievement of specified performance objectives, and to align executives' incentives with stockholder value creation. Compensation is targeted near the median of the range for executives in similar positions at comparable companies, with a focus on strategic goals such as clinical path developments, collaborations, and financial position.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultant—
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-2528,368,6146,683,937197,60280.93%Passed
20252025-06-2616,440,4497,488,809384,20268.7%Passed
20242024-06-2717,038,3949,884,021410,79063.29%Passed
20222022-06-3016,953,3263,466,524218,59083.02%Passed
20202020-06-0714,550,1874,306,979180,01177.16%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-06-2580.93%a
20252025-06-2668.7%b
20242024-06-2763.29%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Approved under the standard stated in the filing — “Abstentions and broker non-votes will have no effect on Proposal 2.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Eliot Richard Forster, Ph.DIndependent · Board Chair · Nominating$70,000—$29,575—$0$99,575
Pol F. Boudes, M.DIndependent45,000—26,708—071,708
Amos Bar ShalevIndependent · Audit and Finance · Compensation (Chair) · Nominating (Chair)45,000—26,708—071,708
Aharon Schwartz, Ph.DIndependent · Audit and Finance · Compensation · Nominating45,000—26,708—071,708
Gwen A. MelincoffIndependent45,000—26,708—071,708
Shmuel "Muli" Ben Zvi, Ph.DIndependent · Audit and Finance (Chair) · Compensation45,000—26,341—071,341
Christian ElzeNot independent · Newly elected11,250—8,826—020,076
Dror BashanEmployee director · Newly elected—————0
09

Board fee structure and ownership guideline

Annual cash retainer$45,000
Annual equity retainer—
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)—
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$306,250
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$306,250

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Protalix BioTherapeutics names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Protalix BioTherapeutics.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Option2025John Rademacher$1,000,000$6,500,050$0$1,665,000$9,266,330
2Stock2025James Hillebrand875,000656,250218,7501,487,5003,380,337
3Protalix BioTherapeutics2025Dror Bashan401,836190,015169,01701,166,934

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Protalix BioTherapeuticsnot disclosednot disclosednot disclosednot disclosed
Option111%PSU 60 · RSU 40NoPearl Meyer
Stock200%not disclosedNoAon

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

10d

Frequently asked questions

Who was the highest-paid executive at Protalix BioTherapeutics in fiscal 2025?
As disclosed, Dror Bashan (President and Chief Executive Officer) was the highest-paid executive at Protalix BioTherapeutics in fiscal 2025, with total compensation of $1,166,934.
How does Protalix BioTherapeutics's chief executive pay compare to its disclosed peer group?
As disclosed, Dror Bashan's total compensation ranked at the 1st percentile of Protalix BioTherapeutics's disclosed peer group.
How did shareholders vote on Protalix BioTherapeutics's executive compensation?
As disclosed, 80.93% of shareholders supported Protalix BioTherapeutics's executive compensation in the latest say-on-pay vote.
How much does Protalix BioTherapeutics spend in total on board compensation for fiscal 2025?
As disclosed, Protalix BioTherapeutics reported total board compensation of $306,250 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Dror BashanDEF 14A2026-04-300001104659-26-053016Section “Executive Compensation”. As printed: 1,166,934. Filing ↗
2Section 01, Eyal RubinDEF 14A2026-04-300001104659-26-053016Section “Executive Compensation”. As printed: 832,461. Filing ↗
3Section 01, Yaron NaosDEF 14A2026-04-300001104659-26-053016Section “Executive Compensation”. As printed: 575,769. Filing ↗
4Section 01, Gilad MamlokDEF 14A2026-04-300001104659-26-053016Section “Executive Compensation”. As printed: 405,225. Filing ↗
5Section 08, Eliot Richard Forster, Ph.DDEF 14A2026-04-300001104659-26-053016Section “Director Compensation”. As printed: 99,575. Filing ↗machine: span 219235–219402
6Section 08, Pol F. Boudes, M.DDEF 14A2026-04-300001104659-26-053016Section “Director Compensation”. As printed: 71,708. Filing ↗machine: span 225276–225443
7Section 08, Amos Bar ShalevDEF 14A2026-04-300001104659-26-053016Section “Director Compensation”. As printed: 71,708. Filing ↗machine: span 221182–221349
8Section 08, Aharon Schwartz, Ph.DDEF 14A2026-04-300001104659-26-053016Section “Director Compensation”. As printed: 71,708. Filing ↗machine: span 231631–231798
9Section 08, Gwen A. MelincoffDEF 14A2026-04-300001104659-26-053016Section “Director Compensation”. As printed: 71,708. Filing ↗machine: span 229506–229673
10Section 08, Shmuel "Muli" Ben Zvi, Ph.DDEF 14A2026-04-300001104659-26-053016Section “Director Compensation”. As printed: 71,341. Filing ↗machine: span 223325–223492
11Section 08, Christian ElzeDEF 14A2026-04-300001104659-26-053016Section “Director Compensation”. As printed: 20,076. Filing ↗machine: span 227557–227724
12Section 08, Dror BashanDEF 14A2026-04-300001104659-26-053016Section “Director Compensation”. As printed: 0. Filing ↗
13Section 06, 2026 voteForm 8-K2026-06-250001104659-26-077790Item 5.07 · say-on-pay result. As reported: 80.93% (votes for as printed: 28,368,614). Filing ↗
14Section 06, 2025 voteForm 8-K2025-06-260001558370-25-008922Item 5.07 · say-on-pay result. As reported: 68.7% (votes for as printed: 16,440,449). Filing ↗
15Section 06, 2024 voteForm 8-K2024-06-280001558370-24-009567Item 5.07 · say-on-pay result. As reported: 63.29% (votes for as printed: 17,038,394). Filing ↗
16Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
17Section 09b board cost (computed)Computed——Cash 306,250 + equity 0 + all other 0 = 306,250, summed across the director compensation table rows.machine: formula: Σ = 306,250
18Option, Section 10b CEO totalDEF 14A2026-04-080001140361-26-013825CEO total compensation as printed in Option's own proxy. As printed: 9,266,330. Filing ↗machine: r2 · c25 · span 1114074–1114083
19Stock, Section 10b CEO totalDEF 14A2026-03-120001437749-26-007879CEO total compensation as printed in Stock's own proxy. As printed: 3,380,337. Filing ↗machine: r3 · c32 · span 991255–991264
20Protalix BioTherapeutics (subject), Section 10b CEO totalDEF 14A2026-04-300001104659-26-053016CEO total compensation as printed in Protalix BioTherapeutics's own proxy. As printed: 1,166,934. Filing ↗
21Section 10a, Stock reciprocityDEF 14A—0001437749-26-007879Stock's most recent proxy was read; its disclosed peer group does not include Protalix BioTherapeutics. Filing ↗
22Section 10a, Option reciprocityDEF 14A—0001140361-26-013825Option's most recent proxy was read; its disclosed peer group does not include Protalix BioTherapeutics. Filing ↗

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