Microbot Medical executives receive salary increases and benefits

In a recent SEC filing, Microbot Medical (NASDAQ:MBOT) Inc., a micro-cap medical device company with a market value of $42.84 million, detailed changes in compensation for several key executives. The company, which has seen its stock surge 127.8% over the past six months, announced on Monday that its Chief Technology Officer, Simon Sharon, and Chief Financial Officer, Rachel Vaknin, received salary increases for the fiscal year 2025. Additionally, Chief Medical (TASE:PMCN) Officer Juan Diaz-Cartelle’s potential annual bonus was increased.

Specifically, Sharon’s annual base salary was raised to NIS 960,000, as outlined in an addendum to his employment agreement. Vaknin’s salary was increased to NIS 720,000, with travel benefits also rising from NIS 1,000 to NIS 5,000 per month. Diaz-Cartelle’s amendment to his employment agreement now allows for a maximum annual bonus of up to 35% of his base salary, a 5% increase from the previous cap. According to InvestingPro, the company maintains a strong liquidity position with a current ratio of 3.64, though it faces profitability challenges.

These contractual amendments were signed on February 5, 2025, and are attached to the company’s Form 8-K filing as exhibits. Microbot Medical, headquartered in Braintree, MA, is known for its specialization in surgical and medical instruments and apparatus. The company, formerly known as StemCells Inc and before that Cytotherapeutics Inc/DE, is incorporated in Delaware and trades on the NASDAQ Capital Market under the ticker MBOT.

This update follows standard corporate governance practices, reflecting routine adjustments in executive compensation. The information from this report is based on the company’s statement in a press release filed with the SEC.

In other recent news, Microbot Medical Inc. has been busy with several significant developments. The company regained Nasdaq compliance by maintaining a minimum closing bid price for its common stock at or above $1.00 per share for 15 consecutive business days. In addition to this, Microbot Medical approved a special bonus of $150,000 for its CEO, Harel Gadot, as disclosed in a recent SEC filing.

Further, H.C. Wainwright raised its price target for Microbot Medical to $9.00, up from the previous $7.00, while maintaining a Buy rating on the company’s shares. This upgrade was influenced by the promising submission of a 510(k) premarket notification to the U.S. Food and Drug Administration for LIBERTY, a single-use, fully-disposable robotic system designed for endovascular procedures.

Microbot Medical also completed its at-the-market equity offering program, raising gross proceeds of approximately $4.82 million by selling a total of 4,276,486 shares. Concurrently, the company expanded its intellectual property portfolio, which includes patents and trademarks related to its LIBERTY Endovascular Robotic Surgical System.

Finally, Microbot Medical announced the appointment of David J. Wilson as a new Class III director and committee member, filling the vacancy left by the departure of Yoseph Bornstein. Wilson’s extensive experience in the healthcare and medical device sectors is expected to enhance the board’s capabilities. These are the recent developments for Microbot Medical.

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