KALTURA INC 10-K

Item 9A. Controls and Procedures. Limitations on Effectiveness of Controls and Procedures In designing and evaluating our disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. In addition, the design of disclosure controls and procedures must reflect the fact that there are resource constraints and that management is required to apply judgment in evaluating the benefits of possible controls and procedures relative to their costs. Evaluation of Disclosure Controls and Procedures Our management, with the participation of our Chief Executive Officer and our Chief Financial Officer, evaluated, as of the end of the period covered by this Annual Report on Form 10-K, the effectiveness of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Based on that evaluation, our Chief Executive Officer and our Chief Financial Officer have concluded that, as of December 31, 2023, such disclosure controls and procedures were effective at the reasonable assurance level. Management’s Report on Internal Control over Financial Reporting Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act. Our management conducted an assessment of the effectiveness of our internal control over financial reporting based on the criteria set forth in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”). Based on this assessment, our management concluded that our internal control over financial reporting was effective as of December 31, 2023. Our independent registered accounting firm will not be required to opine on the effectiveness of our internal control over financial reporting pursuant to Section 404 until we are no longer an “emerging growth company” as defined in the JOBS Act. Changes in internal control over financial reporting There were no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the quarter ended December 31, 2023, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. Item 9B. Other Information. (a) On February 20, 2024, the Company and Ron Yekutiel, the Company’s Chairman, Chief Executive Officer and President, entered into amendments (each, an “Amendment” and collectively, the “Amendments”) to (i) the Employment Agreement, dated as of May 1, 2012, as amended, by and between Kaltura Ltd. and Mr. Yekutiel (the “Yekutiel Employment Agreement”), (ii) the Consulting Agreement, dated as of January 1, 2018, as amended, by and between the Company and Mr. Yekutiel (the “Yekutiel US Consulting Agreement”) and (iii) the Consulting Agreement, dated as of May 1, 2014, as amended, by and between Kaltura Europe Limited and Mr. Yekutiel (the “Yekutiel UK Consulting Agreement”). 125 Table of Contents Pursuant to the Amendments, under the Company’s 2024 Executive Compensation Plan, Mr. Yekutiel will receive up to 326,000 restricted stock units (the “MBO RSUs”) under the Company’s 2021 Incentive Award Plan (the “2021 Plan”), which shall vest in full based upon achievement of 100% of certain performance targets set forth in the 2024 Executive Compensation Plan, and be eligible to earn additional annual “stretch” bonuses of up to $220,500, which shall be paid in cash upon achievement of such performance targets above 100% attainment, subject to and in accordance with the satisfaction of the aforementioned performance targets. Following the end of the applicable year, the Compensation Committee of the Board of Directors of the Company will evaluate achievement of the performance targets and determine the number of MBO RSUs that will vest, and the amount of annual “stretch” bonuses that will be paid to Mr. Yekutiel. Further, under the 2024 Executive Compensation Plan and the 2021 Plan, Mr. Yekutiel will be entitled to receive 2,746,000, restricted stock units (the “LTI RSUs”). The LTI RSUs vest in quarterly installments over a three-year period commencing as of January 1, 2024 with the first quarterly vesting date on March 1, 2024, subject to continued employment through the vesting date. In the event of a termination of service of Mr. Yekutiel without Cause or by Mr. Yekutiel for Good Reason (each as defined in the applicable award agreement) during the twelve (12) month period immediately following a Change in Control (as defined in the 2021 Plan), the LTI RSUs held by him will become vested in full on the date of such termination. In addition, under the Amendment to the Yekutiel Employment Agreement, effective as of January 1, 2024, Mr. Yekutiel’s annual base salary shall be increased by NIS 110,670 to an aggregate amount of NIS 659,598. The foregoing descriptions of the Amendments are not complete and are qualified in their entirety by reference to the full and complete terms contained in the respective Amendment, copies of which are filed as Exhibits 10.20, 10.21 and 10.22 respectively, to this Annual Report on Form 10-K and are incorporated herein by reference. (b) During the three months ended December 31, 2023, the following directors and officers of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item in Item 408(a) of Regulation S-K : Director/Sec. 16 Officer Action Date Trading Arrangement Total Shares to be Sold Expiration Date Rule 10b5-1* Non-Rule 10b5-1** Michal Tsur Adopt 12/13/2023 Y 1,800,000.00 12/31/2024 * Intended to satisfy the affirmative defense of Rule 10b5-1(c) ** Not intended to satisfy the affirmative defense of Rule 10b5-1(c) Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections Not Applicable. 126 Table of Contents PART III Item 10. Directors, Executive Officers and Corporate Governance. The following table provides information regarding our executive officers and members of our board of directors as of the date of this Annual Report on Form 10-K: Name Age Position Executive Officers Ron Yekutiel 51 Chairman, Chief Executive Officer, President and Director Yaron Garmazi 59 Chief Financial Officer Eynav Azaria 50 Chief Revenue Officer Natan Israeli 52 Chief Customer Officer Non-Employee Directors Richard Levandov 69 Director Shay David 51 Director Ronen Faier 53 Director Naama Halevi Davidov 52 Director Eyal Manor 50 Director Executive Officers Ron Yekutiel is one of our co-founders and has served as our Chief Executive Officer and as Chairman of our board of directors since October 2006 and as President from January 15, 2024. Prior to Kaltura, Mr. Yekutiel co-founded VisualGate Systems Inc., a video surveillance company, in 2003, and co-founded and lead GPSoft Ltd and the Destinator business unit in Paradigm Advanced Technologies Inc., a GPS navigation and tracking company, in 2001. Mr. Yekutiel serves as a member of the board of directors of Kaltura Asia Pte Ltd., an affiliate of Kaltura, Inc., and as a member of the board of directors of various private companies. He received a Master of Business Administration with honors from the Wharton School of the University of Pennsylvania in 2005. Mr. Yekutiel was selected to serve on our board of directors because of the perspective and experience he provides as our co-founder and Chief Executive Officer, as well as his extensive experience with technology companies. Yaron Garmazi has served as our Chief Financial Officer since May 2017. Prior to joining Kaltura, Mr. Garmazi served as the Chief Executive Officer of Milestone Sport Ltd., a sports technology company, from 2016 to 2017, and as the Chief Financial Officer of Kontera, an online advertising company, from 2007 to 2011. He is a Certified Public Accountant (ISR) and received a Bachelor of Arts in Accounting and Business Management from the Tel Aviv College of Management in 1993. Mr. Garmazi shall cease serving as Chief Financial Officer and an Executive Officer from February 29, 2024. Eynav Azaria has served as our Chief Revenue Officer since August 2022 and as an executive officer since January 2024. Prior to that, Mr. Azaria served as Chief Executive Officer of Panorama Software Inc., a business intelligence software company, from 2004 to 2020. Before joining Panorama, Mr. Azaria was Chief Operating Officer for BrowseUp Ltd., and before that he served as campaign manager for the Israeli Labor Party and former prime minister, Mr. Ehud Barak. Mr. Azaria also served as the CEO of the International Center for Peace in the Middle East. Mr. Azaria is a member of the board of trustees of the Afeka Engineering College in Israel. Natan Israeli has served as our Chief Customer Officer since November 2020 and as an executive officer since January 2024. Prior to joining Kaltura, throughout 2020 Mr. Israeli was the CEO for Ambar A.M. Enterprise Ltd., that was active in the Israeli energy and infrastructure industries. Prior to that Mr. Israeli served for three decades in the Israeli Air Force (IAF) as an officer and helicopter pilot. His last position was head of all IAF Human Resources from 2016 to 2020, in which capacity he was responsible for tens of thousands of people. Prior to that Mr. Israeli has hed various senior positions, including the IAF's CIO and head of its information systems from 2012 to 2014. 127 Table of Contents Non-Employee Directors Richard Levandov has served as a member of our board of directors since 2007. Mr. Levandov has over 30 years of experience as a technology venture capitalist, operator and entrepreneur, most recently as a partner at Avalon Ventures from 2007 to date. Mr. Levandov is active in the Boston, New York City, San Francisco and Seattle venture and entrepreneurial communities. As a past judge on the MIT 100k business plan competition he remains very active in various organizations on both U.S. coasts, promoting the creation of new disruptive enterprises. He received a Bachelor of Science from Binghamton University in 1976. Mr. Levandov was selected to serve on our board of directors because of his extensive experience in the venture capital industry. Shay David is one of our co-founders and has served as a member of our board of directors since October 2006. Dr. David previously held various roles with us, including President and General Manager of Media and Telecom from 2016 to 2019, and Chief Revenue Officer from 2012 to 2015. He co-founded Retrain.ai, an artificial intelligence company, in August 2020 and has served as its Chief Executive Officer and Chairman of the board of directors since its founding. He was a post-doctoral fellow at Yale Law School from 2007 to 2008, and received a Ph.D. in Science and Technology from Cornell University in 2008, a Master of Arts from New York University in 2003 and a Bachelor of Science in Computer Science Philosophy from Tel Aviv University in 2001. Dr. David was selected to serve on our board of directors because of the perspective and experience he provides as our co-founder and his extensive experience in the media and technology fields. Ronen Faier has served on our board of directors since July 2021. Mr. Faier has served as the Chief Financial Officer of SolarEdge Technologies, Inc., an energy management company, since January 2011. Additionally, Mr. Faier has served as a director of Monday.com since 2021 and a director of Cato Networks since February 2023. Prior to his role at SolarEdge, Mr. Faier has served in various executive positions at publicly traded technology companies such as SanDisk Corporation, a semiconductor manufacturing company, Msystems Ltd., a semiconductor memory devices manufacturing company and VocalTec Communications, Inc., a telecom equipment provider. Mr. Faier is a Certified Public Accountant in Israel. He received a Master’s of Business Administration with honors from Tel Aviv University in 2000 and a Bachelor of Arts in Accounting and Economics from the Hebrew University of Jerusalem in 1996. Mr. Faier was selected to serve on our board of directors because of his extensive financial and public company experience. Naama Halevi Davidov has served on our board of directors since July 2021. Dr. Halevi Davidov has been the Chief Financial Officer of XM Cyber Ltd., a global cybersecurity company, since May 2022. Prior to this role, Dr. Halevi Davidov served as a consultant to several technology companies including Simply Ltd. (formerly named JuyTunes), Gloat Ltd. and Healthy.IO. Dr. Halevi Davidov is also serving as a member of the board of directors of Kornit Digital Ltd. (NASDAQ KRNT) since August 2023 and Acteils Networks (NASDAQ ASNS) since May 2022. Dr. Halevi Davidov served as our Chief Financial Officer from November 2012 to August 2017. Dr. Halevi Davidov has also served on the board of our subsidiary, Kaltura Asia Pte Ltd. since February 2015. Dr. Halevi Davidov is a Certified Public Accountant in Israel. She received a Ph.D. in Strategy from Tel Aviv University in 2012, a Master’s in Business Administration from Tel Aviv University in 2002 and Bachelor of Arts in Accounting and Economics from Tel Aviv University in 2000. Dr. Halevi Davidov was selected to serve on our board of directors because of her extensive knowledge of and experience with corporate financial strategy. Eyal Manor has served on our board of directors since January 2023. Mr. Manor has served as Chief Product & Engineering Officer at Twilio from 2021 to 2023, overseeing CPaaS and Segment's CDP. Prior to that, from 2016 to November 2021 Mr. Manor served as Vice President & General Manager at Google Cloud, where he led a portfolio of technologies, including Kubernetes, Serverless Developer Platforms, Marketplace, and other products. In his previous roles with Google, Mr. Manor was VP of Engineering at YouTube and spearheaded the development of advertising products. Before joining Google, Mr. Manor founded Voice and Video SaaS streaming startup and was in an IAF Research Group. Mr. Manor graduated from Tel Aviv University in 1994. Mr. Manor was selected to serve on our board of directors because of his vast experience \ building successful SaaS products and innovative platform technologies. Family Relationships There are no family relationships among any of our directors or executive officers. 128 Table of Contents Code of Business Conduct and Ethics We have adopted a written code of business conduct and ethics that applies to our directors, officers and employees, including our principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. Our code of business conduct and ethics is available under the Corporate Governance section of our website at investors.kaltura.com. In addition, we intend to post on our website all disclosures that are required by law or the Nasdaq rules concerning any amendments to, or waivers from, any provision of the code. The reference to our website address does not constitute incorporation by reference of the information contained at or available through our website, and you should not consider it to be a part of this Annual Report on Form 10-K. The remaining information required by this item will be included under the headings “Election of Directors,” “Corporate Governance,” and, if applicable, “Delinquent Section 16(a) Reports” in our definitive proxy statement for our 2024 Annual Meeting of Stockholders, and such required information is incorporated herein by reference. Item 11. Executive Compensation. The information required by this item will be included under the headings “Executive Compensation” and, if applicable, “Compensation Committee Interlocks and Insider Participation” in our definitive proxy statement for our 2024 Annual Meeting of Stockholders, and such information is incorporated herein by reference. Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. The information required by this item will be included under the headings “Securities Authorized for Issuance Under Equity Compensation Plans” and “Security Ownership of Certain Beneficial Owners and Management” in our definitive proxy statement for our 2024 Annual Meeting of Stockholders, and such information is incorporated herein by reference. Item 13. Certain Relationships and Related Transactions, and Director Independence. The information required by this item will be included under the headings “Certain Relationships and Related Person Transactions,” “Corporate Governance” and “Director Independence” in our definitive proxy statement for our 2024 Annual Meeting of Stockholders, and such information is incorporated herein by reference. Item 14. Principal Accountant Fees and Services. The information required by this item will be included under the heading “Independent Registered Public Accounting Firm Fees and Other Matters” in our definitive proxy statement for our 2024 Annual Meeting of Stockholders, and such information is incorporated herein by reference. 129 Table of Contents PART IV Item 15. Exhibits and Financial Statement Schedules (a)(1) Financial Statements See Item 8 herein. (a)(2) Financial Statement Schedules. All financial statement schedules have been omitted because they are not applicable, not required or the information required is shown in the financial statements or the notes thereto. (a)(3) Exhibits. The following is a list of exhibits filed as part of this Annual Report on Form 10-K. Incorporated by Reference Filed/ Exhibit Number Exhibit Description Form File No. Exhibit Filing Date Furnished Herewith 3.1 Amended and Restated Certificate of Incorporation of Kaltura, Inc. 8-K 001-40644 3.1 7/23/2021 3.2 Certificate of Designations of Series A Junior Participating Preferred Stock of Kaltura, Inc. 8-K 001-40644 3.2 08/08/2022 3.3 Amended and Restated Bylaws of Kaltura, Inc. 8-K 001-40644 3.2 7/23/2021 4.1 Specimen Stock Certificate of Kaltura, Inc, S-1/A 333-253699 4.1 3/23/2021 4.2 Sixth Amended and Restated Investor Rights Agreement, dated as of July 22, 2016, by and among Kaltura, Inc. and each of the investors listed on Exhibit A thereto, as amended. S-1/A 333-253699 4.2 3/23/2021 4.3 Description of Capital Stock. 10-K 001-40644 4.4 2/25/2022 4.4 Rights Agreement, dated as of August 7, 2022, between Kaltura, Inc. and American Stock Transfer & Trust Company, LLC 8-K 001-40644 4.1 8/8/2022 10.1 Credit Agreement, dated as of January 14, 2021, by and among Kaltura, Inc., the several banks and other financial institutions or entities from time to time party thereto, Silicon Valley Bank, as the Issuing Lender and the Swingline Lender, and SVB, as Administrative Agent. S-1/A 333-253699 10.1 3/26/2021 10.2 First Amendment to Credit Agreement, dated as of June 29, 2021, by and among Kaltura, Inc. (the “Borrower”), the subsidiaries of the Borrower party thereto, the several banks and other financial institutions or entities party thereto, and Silicon Valley Bank, as the Administrative Agent, the Issuing Lender and the Swingline Lender. S-1/A 333-253699 10.1 7/12/2021 130 10.3 Second Amendment to Credit Agreement, dated as of December 20, 2021, by and among Kaltura, Inc. (the “Borrower”), the subsidiaries of the Borrower party thereto, the several banks and other financial institutions or entities party thereto, and Silicon Valley Bank, as the Administrative Agent, the Issuing Lender and the Swingline Lender. 10-K 001-40644 10.3 2/25/2022 10.4 Third Amendment to Credit Agreement, dated as of April 19, 2022, by and among Kaltura, Inc. (the “Borrower”), the subsidiaries of the Borrower party thereto, the several banks and other financial institutions or entities party thereto, and Silicon Valley Bank, as the Administrative Agent, the Issuing Lender and the Swingline Lender. 10-Q 001-40644 10.1 11/08/2023 10.5 Fourth Amendment to Credit Agreement, dated as of May 23, 2023, by and among Kaltura, Inc. (the “Borrower”), the subsidiaries of the Borrower party thereto, the several banks and other financial institutions or entities party thereto, and Silicon Valley Bank, a Division of First-Citizens Bank & Trust Company, as the Administrative Agent, the Issuing Lender and the Swingline Lender. 10-Q 001-40644 10.2 11/08/2023 10.6 Fifth Amendment to Credit Agreement, dated as of December 21, 2023, by and among Kaltura, Inc. (the “Borrower”), the subsidiaries of the Borrower party thereto, the several banks and other financial institutions or entities party thereto, and Silicon Valley Bank, as the Administrative Agent, the Issuing Lender and the Swingline Lender. 8-K 001-40644 10.1 12/27/2023 10.7 Guarantee and Collateral Agreement, dated as of January 14, 2021, by and among Kaltura, Inc., the other Grantors referred to therein, and Silicon Valley Bank, as administrative agent. S-1/A 333-253699 10.2 3/26/2021 10.8 Debenture, dated as of January 14, 2021, by and among Kaltura Europe Limited and Kaltura, Inc., as Original Chargors, and Silicon Valley Bank, as Administrative Agent, as supplemented. S-1/A 333-253699 10.3 3/26/2021 10. 9 † Kaltura, Inc. 2007 Israeli Share Option Plan and form of option agreements thereunder. S-1/A 333-253699 10.4 3/23/2021 10. 10 † Kaltura, Inc. 2007 Stock Option Plan and form of option agreements thereunder. S-1/A 333-253699 10.5 3/23/2021 10. 11 † Kaltura, Inc. 2017 Equity Incentive Plan and form of option agreements thereunder. S-1/A 333-253699 10.6 3/23/2021 10. 12 † Kaltura, Inc. 2021 Incentive Award Plan. S-1/A 333-253699 10.7 3/23/2021 10. 13 † Form of Stock Option Award Agreement under the Kaltura, Inc. 2021 Incentive Award Plan. S-1/A 333-253699 10.8 3/23/2021 10.1 4 † Form of Restricted Stock Unit Award Agreement under the Kaltura, Inc. 2021 Incentive Award Plan. S-1/A 333-253699 10.9 3/23/2021 132 10.1 5 † Employment Agreement, dated as of May 1, 2012, by and between Kaltura Ltd. and Ron Yekutiel, as amended. 8-K 001-40644 10.1 04/05/2022 10.1 6 † Consulting Agreement by and between Kaltura, Inc. and Ron Yekutiel, effective January 1, 2018, as amended. 8-K 001-40644 10.2 04/05/2022 10.1 7 † Consulting Agreement by and between Kaltura Europe Limited and Ron Yekutiel, effective May 1, 2014, as amended. 8-K 001-40644 10.3 04/05/2022 10. 20 †# Amendment to Employment Agreement, dated as of February 2 0 , 202 4 , by and between Kaltura Ltd and Ron Yekutiel * 10. 21 †# Amendment to Consulting Agreement, dated as of February 2 0 , 202 4 , by and between Kaltura Inc and Ron Yekutiel * 10. 2 2 †# Amendment to Consulting Agreement, dated as of February 2 0 , 202 4 , by and between Kaltura Europe Limited and Ron Yekutiel * 10.2 3 † Letter of Agreement with Yaron Garmazi, dated January 14, 2024. 8-K 001-40644 10.2 01/16/2024 10.2 4 † Incentive Award Cancellation Agreement with Yaron Garmazi, dated February 13, 2024 * 10.2 5 † Letter of Agreement with Michal T s ur dated January 1 4 , 2024. * 10.26† Incentive Award Cancellation Agreement with Michal Tsur dated February 13, 2024 * 10.2 7 †# Employment Agreement, dated as of December 22 , 20 20 , by and between Kaltura Ltd. and Eynav Azaria , as amended. * 10.2 8 †# Employment Agreement, dated as of November 26 , 2020, by and between Kaltura Ltd. and Natan Israeli as amended. * 10.2 9 † Kaltura, Inc. Non-Employee Director Compensation Policy. S-1/A 333-253699 10.17 3/23/2021 10. 30 † Form of RSU Award Agreement Under 2021 Incentive Award Plan - For Israeli Participants 10-K 001-40644 10.20 02/25/2022 10. 3 1 † Form of Stock Option Award Agreement Under 2021 Incentive Award Plan - For Israeli Participants 10-K 001-40644 10.21 02/25/2022 10. 3 2 Form of Indemnification Agreement between Kaltura, Inc. and its directors and officers. S-1/A 333-253699 10.18 3/23/2021 21.1 List of Subsidiaries of Kaltura, Inc. 10-K 001-40644 21.1 02/25/2022 23.1 Consent of Kost Forer Gabbay & Kasierer, a member of Ernst & Young Global, Independent Registered Public Accounting Firm. * 31.1 Certification of Chief Executive Officer pursuant to Rule 13a-14(a)/15d-14(a). * 31.2 Certification of Chief Financial Officer pursuant to Rule 13a-14(a)/15d-14(a). * 32.1 Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350. ** 133 32.2 Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350. ** 97.1 Policy Relating to Recovery of Erroneously Awarded Compensation * 101.INS Inline XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document * 101.SCH Inline XBRL Taxonomy Extension Schema Document * 101.CAL Inline XBRL Taxonomy Extension Calculation Linkbase Document * 101.DEF Inline XBRL Taxonomy Extension Definition Linkbase Document * 101.LAB Inline XBRL Taxonomy Extension Label Linkbase Document * 101.PRE Inline XBRL Taxonomy Extension Presentation Linkbase Document * 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) * 10.28 * Filed herewith. ** Furnished herewith. † Indicates management contract or compensatory plan. # The annex has been omitted pursuant to Item 601(a)(5) of Regulation S-K. The registrant undertakes to furnish a supplemental copy of the annex to the SEC upon request. Item 16. Form 10-K Summary None. 134 Table of Contents SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. KALTURA, INC. Date: February 22, 2024 By: /s/ Ron Yekutiel Ron Yekutiel Chairman, President and Chief Executive Officer Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant in the capacities and on the dates indicated. Name Title Date /s/ Ron Yekutiel Chairman, President and Chief Executive Officer and Director February 22, 2024 Ron Yekutiel (principal executive officer) /s/ Yaron Garmazi Chief Financial Officer February 22, 2024 Yaron Garmazi (principal financial officer and principal accounting officer) /s/ Richard Levandov Director February 22, 2024 Richard Levandov /s/ Shay David Director February 22, 2024 Shay David /s/ Ronen Faier Director February 22, 2024 Ronen Faier /s/ Naama Halevi Davidov Director February 22, 2024 Naama Halevi Davidov /s/ Eyal Manor Director February 22, 2024 Eyal Manor