MAZOR ROBOTICS LTD. | CIK:0001566844 | 3

  • Filed: 4/30/2018
  • Entity registrant name: MAZOR ROBOTICS LTD. (CIK: 0001566844)
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  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1566844/000117891318001361/0001178913-18-001361-index.htm
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    • ifrs-full:DisclosureOfRelatedPartyExplanatory

    Note 21 - Related Parties

    A.
    Key management personnel compensation (including directors)
     
    In addition to their salaries, the Group also provides non-cash benefits to directors and executive officers (such as a car,  etc.), and contributes to post-employment plans on their behalf. Executive officers and directors also participate in the Company’s share option program (see Note 23 regarding share-based payments).
     
    Compensation to key management personnel (including one director) that are employed by the Group:

       
    For the year ended December 31
    		  
     
    2017
    		    
    2016
    		    
    2015
    		  
     
    Number
    		    
    USD
    		    
    Number of
    		    
    USD
    		    
    Number
    		    
    USD
    		  
     
    of people
    		    
    thousands
    		    
    people
    		    
    thousands
    		    
    of people
    		    
    thousands
    		  
    Employee benefits
    		    
    11
    		      
    3,270
    		      
    9
    		      
    2,752
    		      
    9
    		      
    2,092
    		  
    Share-based payments
    		    
    11
    		      
    1,841
    		      
    9
    		      
    1,865
    		      
    9
    		      
    1,285
    		  
                 
    5,111
    		              
    4,617
    		              
    3,377
    		  
     
    Compensation to directors:

       
    For the year ended December 31
    		  
       
    2017
    		    
    2016
    		    
    2015
    		  
       
    Number
    		    
    USD
    		    
    Number of
    		    
    USD
    		    
    Number
    		    
    USD
    		  
       
    of people
    		    
    thousands
    		    
    people
    		    
    thousands
    		    
    of people
    		    
    thousands
    		  
                                       
    Total compensation to directors employed by the Company*
    		    
    1
    		      
    387
    		      
    1
    		      
    199
    		      
    1
    		      
    187
    		  
                                                   
    Compensation to independent directors**
    		    
    4
    		      
    753
    		      
    5
    		      
    354
    		      
    4
    		      
    423
    		  

    *
    Including share-based payments in the amount of USD 255 thousand, USD 82 thousand and USD 78 thousand in 2017, 2016 and 2015, respectively.
    **
    Including share-based payments in the amount of USD 519 thousand, USD 194 thousand and USD 287 thousand in 2017, 2016 and 2015, respectively.
     
    B.
    Engagements between the Company and related parties
     
    (1)
    On October 8, 2015 and July 19, 2016, the Company’s general meeting of shareholders approved additional share-based compensation to the CEO – For further details, see Note 23(C).
     
    (2)
    On July 19, 2016, the Company’s shareholders approved an amendment to the employment terms of the CEO, based on the compensation committee and the Board of Directors recommendation, such that the CEO salary, effective March 1, 2016, has been updated to NIS 80 thousand per month. On the same date, the Company’s shareholders approved the grant of a bonus in the sum of NIS 900,000 to the CEO, in light of his contribution to the Company’s successful completion of a private placement of the Company’s ADSs and the execution of an Exclusive Lead Sharing and Distribution Agreement in May 2016, as further discussed in Note 1(C).
     
    (3)
    On November 28, 2016, the Company’s shareholders approved share-based compensation to all of the directors - For further details see Note 23(C).
     
    (4)
    On December 27, 2017, the Company’s shareholders approved an amendment to the employment terms of the CEO, based on the compensation committee and the Board of Directors recommendation, such that the CEO salary, effective January 1, 2018, has been updated to NIS 90 thousand per month.