Microbot Medical Inc 10-K for FY2021

Microbot Medical Inc. (MBOT)

10-K 2022-03-31 For: 2021-12-31

Added on April 08, 2026

About this 10-K

Microbot Medical Inc filed this 10-K on March 31, 2022, covering the fiscal year ended December 31, 2021 (FY2021).

Headline figures

Fiscal year ended December 31, 2021, as reported in this filing, compared with the same period a year earlier where the filing states it.

Net loss: $11.31M; compared with a net loss of $9.17M a year earlier

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, Par value $0.01		MBOT		NASDAQ Capital Market

Large accelerated filer ☐	Accelerated filer ☐
Non-accelerated filer ☒	Smaller reporting company ☒
	Emerging Growth Company ☐

		Page
	PART I
Item 1.	Business	3
Item 1A.	Risk Factors	19
Item 1B.	Unresolved Staff Comments	36
Item 2.	Description of Property	36
Item 3.	Legal Proceedings	36
Item 4.	Mine Safety Disclosures	37

	PART II
Item 5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	37
Item 6.	[Reserved]	38
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	38
Item 7A.	Quantitative and Qualitative Disclosures about Market Risk	42
Item 8.	Financial Statements and Supplementary Data	43
Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	43
Item 9A.	Controls and Procedures	43
Item 9B.	Other Information	43
Item 9C.	Disclosure Regarding Foreign Jurisdictions that Prevent Inspections	43

	PART III
Item 10.	Directors, Executive Officers and Corporate Governance	44
Item 11.	Executive Compensation	49
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	53
Item 13.	Certain Relationships and Related Transactions, and Director Independence	54
Item 14.	Principal Accountant Fees and Services	55

	PART IV
Item 15.	Exhibits and Financial Statement Schedules	55

	●	Microbot has had no revenue and has incurred significant operating losses since inception and is expected to continue to incur significant operating losses for the foreseeable future. The Company may never become profitable or, if achieved, be able to sustain profitability.
	●	Microbot has a limited operating history, which may make it difficult to evaluate the prospects for the Company’s future viability.
	●	Microbot may need additional funding. If Microbot is unable to raise capital when needed, it could be forced to delay, reduce or eliminate its product development programs or commercialization efforts.
	●	An epidemic of the coronavirus disease is ongoing and may result in significant disruptions to our clinical trials or other business operations, which could have a material adverse effect on our business.

	●	Unsuccessful animal studies, clinical trials or procedures relating to product candidates under development could have a material adverse effect on Microbot’s prospects.
	●	Microbot’s business depends heavily on the success of its lead product candidates, the LIBERTY^® and SCS. If Microbot is unable to commercialize the LIBERTY or SCS, or experiences significant delays in doing so, Microbot’s business will be materially harmed.
	●	Microbot’s ability to expand its technology platforms for other uses, including endovascular neurosurgery other than for the treatment of hydrocephalus, may be limited.
	●	At this time, Microbot does not know whether the FDA will require it to submit clinical data in support of its future marketing applications for its SCS product candidate, particularly in light of recent initiatives by the FDA to enhance and modernize its approach to medical device safety and innovation, which creates uncertainty for Microbot as well as the possibility of increased product development costs and time to market.
	●	The FDA may disagree with Microbot’s determination that the SCS is a Class II device or that the chosen predicate device (or any predicate device) is appropriate for a substantial equivalence comparison to the SCS.
	●	Microbot’s CardioSert technology is subject to a buy-back clause which, if triggered, could cause us to lose rights to the technology and delay or curtail the development of our products.
	●	If the commercial opportunity for SCS, LIBERTY and any other commercial products that may be developed by Microbot is smaller than Microbot anticipates, Microbot’s future revenue from SCS, LIBERTY and such other products will be adversely affected and Microbot’s business will suffer.
	●	Customers will be unlikely to buy the SCS, LIBERTY or any other product candidates unless Microbot can demonstrate that they can be produced for sale to consumers at attractive prices.
	●	Microbot will rely on third party design houses for the redesign of the CardioSert guidewire to other specific indications.
	●	Microbot has relied on, and intends to continue to rely on, third-party manufacturers to produce its product candidates.
	●	If Microbot’s product candidates are not considered to be a safe and effective alternative to existing technologies, Microbot will not be commercially successful.
	●	Microbot may be subject to penalties and may be precluded from marketing its product candidates if Microbot fails to comply with extensive governmental regulations.
	●	If Microbot is not able to both obtain and maintain adequate levels of third-party reimbursement for procedures involving its product candidates after they are approved for marketing and launched commercially, it would have a material adverse effect on Microbot’s business.
	●	Clinical outcome studies for the SCS may not provide sufficient data to make Microbot’s product candidates the standard of care.
	●	Microbot products may in the future be subject to mandatory product recalls that could harm its reputation, business and financial results.
	●	If Microbot’s future commercialized products cause or contribute to a death or a serious injury, Microbot will be subject to Medical Device Reporting regulations, which can result in voluntary corrective actions or agency enforcement actions.
	●	Microbot could be exposed to significant liability claims if Microbot is unable to obtain insurance at acceptable costs and adequate levels or otherwise protect itself against potential product liability claims.
	●	The results of Microbot’s research and development efforts are uncertain and there can be no assurance of the commercial success of Microbot’s product candidates.
	●	If Microbot fails to retain certain of its key personnel and attract and retain additional qualified personnel, Microbot might not be able to pursue its growth strategy effectively.

	●	Microbot’s right to develop and commercialize the SCS and TipCAT product candidates are subject to the terms and condition of a license granted to Microbot by Technion Research and Development Foundation Ltd. and termination of the license with respect to one or both of the technology platforms underlying the product candidates would result in Microbot ceasing its development efforts for the applicable product candidate(s).
	●	Microbot may not meet its product candidates’ development and commercialization objectives in a timely manner or at all.
	●	Intellectual property litigation and infringement claims could cause Microbot to incur significant expenses or prevent Microbot from selling certain of its product candidates.
	●	If Microbot or TRDF are unable to protect the patents or other proprietary rights relating to Microbot’s product candidates, or if Microbot infringes on the patents or other proprietary rights of others, Microbot’s competitiveness and business prospects may be materially damaged.
	●	Dependence on patent and other proprietary rights and failing to protect such rights or to be successful in litigation related to such rights may result in Microbot’s payment of significant monetary damages or impact offerings in its product portfolios.

	●	Microbot has facilities located in Israel, and therefore, political conditions in Israel may affect Microbot’s operations and results.
	●	Political relations could limit Microbot’s ability to sell or buy internationally.
	●	Israel’s economy may become unstable.
	●	Exchange rate fluctuations between the U.S. dollar and the NIS currencies may negatively affect Microbot’s operating costs.
	●	Funding and other benefits provided by Israeli government programs may be terminated or reduced in the future and the terms of such funding may have a significant impact on future corporate decisions.
	●	Some of Microbot’s employees and officers are obligated to perform military reserve duty in Israel.
	●	It may be difficult to enforce a non-Israeli judgment against Microbot or its officers and directors.

	●	If we fail to comply with the continued listing requirements of The Nasdaq Capital Market, our common stock may be delisted and the price of our common stock and our ability to access the capital markets could be negatively impacted.
	●	We do not expect to pay cash dividends on our common stock.
	●	Anti-takeover provisions in the Company’s charter and bylaws under Delaware law may prevent or frustrate attempts by stockholders to change the board of directors or current management and could make a third-party acquisition of the Company difficult.
	●	We are subject to litigation, which may divert management’s attention and have a material adverse effect on our business, financial condition and results of operations.

	●	Raising additional capital may cause dilution to the Company’s investors, restrict its operations or require it to relinquish rights to its technologies or product candidates.
	●	Microbot operates in a competitive industry and if its competitors have products that are marketed more effectively or develop products, treatments or procedures that are similar, more advanced, safer or more effective, its commercial opportunities will be reduced or eliminated, which would materially harm its business.
	●	Our business strategy in part relies on identifying, acquiring and developing complementary technologies and products, which entails risks which could negatively affect our business, operations and financial condition.
	●	Microbot operations in international markets involve inherent risks that Microbot may not be able to control.
	●	Microbot’s financial results may be affected by fluctuations in exchange rates and Microbot’s current currency hedging strategy may not be sufficient to counter such fluctuations.
	●	The market price for our Common Stock may be volatile.
	●	The issuance of shares upon exercise of outstanding warrants and options could cause immediate and substantial dilution to existing stockholders.

	●	Significant cell growth and accumulation in a non-operating SCS™ as well as in a standard of care ventricular catheters (control group).

	●	A significant inhibition in cell growth in daily (5-10 minutes) or weekly (up to 2 hours over the week) operating regimes of the SCS™, with little cell attachment on the ViRob mechanism.

	●	The effectiveness of the SCS™ device in preventing cells blockage as compare to standard of care surgical ventricular catheters.

	●	Compact size - Eliminates the need for large capital equipment in dedicated cath-lab rooms with dedicated staff.

	●	Fully disposable - To our knowledge, the first and only fully disposable, robotic system for endovascular procedures.

	●	Streamlines Cath-lab procedures - Compatible with Microbot’s unique One & Done^TM tool or possibly other guidewire/microcatheter technologies, that combines guidewire and microcatheter into a single device. The “One & Done” tool, when integrated into the system, is expected to provide full control over tip curvature and stiffness for maneuverability and access without the need for constant tool exchanges, while enhancing the operator experience.

	●	State of the art maneuverability - Provides linear, rotational and tip control of its One & Done^TM tool when integrated into the system, as well as linear motion for an additional “over the wire” device.

	●	Compatibility with a wide range of commercially-available guidewires, microcatheters and guide-catheters.

	●	Enhanced operator safety and comfort - Reduces exposure to ionizing radiation and the need for heavy lead vests otherwise to be worn during procedures, as well as reducing the exposure to Hospital Acquired Infections (HAI).

	●	Ease of use - LIBERTY’s intuitive remote controls simplify advanced procedures while shortening the physician’s learning curve.

	●	Telemedicine compatible - Capable of tele-catheterization, carried out remotely by highly trained specialists.

	●	Continue to refine existing product candidates and develop additional micro-robotic solutions. As Microbot prepares to bring its initial product candidates through pre-clinical and clinical trials, if necessary, and eventually to market, it continues to focus on improving its product candidates to respond to clinical data and patient and physician feedback. Microbot also expects to continue to innovate in the micro-robotics field by continuing to find ways of using its technology to solve unmet needs, with the overarching goal of providing a safer, more effective and more efficient surgical environment for patients and physicians.

	●	Establish and leverage relationships with key institutions and leading clinicians. Microbot’s objective will be to maintain clinical focus with leading hospitals and clinics so as to establish the SCS, LIBERTY, as well as other future products, as the standard of care in such institutions for their respective procedures. Microbot also expects to identify key clinicians with the relevant specialties (for instance, neurosurgery or interventional radiology) with the expectation that such clinical focus will accelerate the adoption of its candidate products.

	●	Continuously invest in research and development. Microbot’s most significant expense has historically been research and development, and Microbot expects that this will continue in the foreseeable future, including expenses it expects to incur to improve on its prototype products in order to respond to clinical data, to develop additional applications using its technologies and to develop future product candidates.

	●	Explore partnerships for the introduction of Microbot’s products. Microbot intends to focus its marketing and sales efforts initially on pursuing collaborations with global medical device companies that have established sales and distribution networks. Microbot will seek to enter collaborations and partnerships with strategic players that offer synergies with Microbot’s product candidates and expertise.

	●	Seek additional IP and technologies to complement and strengthen Microbot’s current IP portfolio. Microbot intends to continue exploring new technologies, IP and know-how to add to its current portfolio through licensing, mergers and/or acquisitions and to allow Microbot to enter new spaces and strengthen its overall product portfolio.

	●	Significant cell growth and accumulation in a non-operating SCS as well as a standard of care surgical shunt.

	●	A significant inhibition in cell growth in daily (5-10 minutes) or weekly (up to 2 hours over the week) operating SCS with little cell attachment on the robotic brush (ViRob) and on the opening where the robotic brush (ViRob) operates.

	●	The effectiveness of the Company’s SCS devices in preventing cells blockage as compare to standard of care surgical shunts.

	●	product design, and development;

	●	product safety, testing, labeling and storage;

	●	record keeping procedures; and

	●	product marketing.

	●	the timely submission of product listing and establishment registration information, along with associated establishment user fees;

	●	continued compliance with the Quality System Regulation, or QSR, which require specification developers and manufacturers, including third-party manufacturers, to follow stringent design, testing, control, documentation and other quality assurance procedures during all aspects of the manufacturing process;

	●	labeling regulations and FDA prohibitions against the promotion of products for uncleared, unapproved or off-label use or indication;

	●	clearance or approval of product modifications that could significantly affect the safety or effectiveness of the device or that would constitute a major change in intended use;

	●	Medical Device Reporting regulations (MDR), which require that manufacturers keep detailed records of investigations or complaints against their devices and to report to the FDA if their device may have caused or contributed to a death or serious injury or malfunctioned in a way that would likely cause or contribute to a death or serious injury if it were to recur;

	●	adequate use of the Corrective and Preventive Actions process to identify and correct or prevent significant systemic failures of products or processes or in trends which suggest same;

	●	post-approval restrictions or conditions, including post-approval study commitments;

	●	post-market surveillance regulations, which apply when necessary to protect the public health or to provide additional safety and effectiveness data for the device; and

	●	notices of correction or removal and recall regulations.

	●	Primary shunt placement; and

	●	Shunt replacement.

	●	Class I devices, which are low risk and subject to only general controls (e.g., registration and listing, medical device labeling compliance, MDRs, Quality System Regulations, and prohibitions against adulteration and misbranding) and, in some cases, to the 510(k) premarket clearance requirements;

	●	Class II devices, which are moderate risk and generally require 510(k) or 510(k) de-novo premarket clearance before they may be commercially marketed in the United States as well as general controls and potentially special controls like performance standards or specific labeling requirements; and

	●	Class III devices, which are devices deemed by the FDA to pose the greatest risk, such as life-sustaining, life-supporting or implantable devices, or devices deemed not substantially equivalent to a predicate device. Class III devices generally require the submission and approval of a PMA supported by clinical trial data.

	●	Development of comprehensive product description and indications for use;

	●	Comprehensive review of predicate devices and development of data supporting the new product’s substantial equivalence to one or more predicate devices; and

	●	If appropriate and required, certain types of clinical trials (IDE submission and approval may be required for conducting a clinical trial in the US).

	1.	To obtain CE Marking certification, comply with European Commission Regulation (EU) No. 2017/745, commonly known as the Medical Device Regulation (MDR).

	2.	Appoint a Person Responsible for regulatory compliance. Determine classification of device - Class I (self-certified); Class I (sterile, measuring or reusable surgical instrument); Class IIa, Class IIb, or Class III.

	3.	For all devices except Class I (self-certified), implement a Quality Management System (QMS) in accordance with the MDR. Companies usually apply the EN ISO 13485 standard to achieve compliance. The QMS must include Clinical Evaluation, Post-Market Surveillance (PMS) and Post Market Clinical Follow-up (PMCF) plans. Make arrangements with suppliers about unannounced Notified Body audits. For Class I (self-certified), implement a QMS though Notified Body intervention is not required.

	4.	Prepare a CE Technical File or Design Dossier (Class III) providing information about the device and its intended use plus testing reports, Clinical Evaluation Report (CER), risk management file, Instruction For Use (IFU), labeling and more. Obtain a Unique Device Identifier (UDI) for the device. All devices, even legacy products in use for decades, will require clinical data. Most of these data should refer to the subject device. Clinical studies are generally required for implantable and Class III devices. Existing clinical data may be acceptable. Clinical trials in Europe must be pre-approved by a European Competent Authority.

	5.	If the company does not have a location in Europe, appoint an Authorized Representative (EC REP) located in the EU who is qualified to handle regulatory issues. Place the EC REP name and address on device label. Obtain a Single Registration Number from the regulators.

	6.	For all devices except Class I (self-certified), the QMS and Technical File or Design Dossier must be audited by a Notified Body, a third party accredited by European authorities to audit medical device companies and products.

	7.	For all devices except Class I (self-certified), the company will be issued a European CE Marking Certificate for the device and an ISO 13485 certificate for the company’s facility following successful completion of the Notified Body audit. ISO 13485 certification must be renewed every year. CE Marking certificates are typically valid for a maximum of 5 years, but are typically reviewed during the annual surveillance audit.

	8.	Prepare a Declaration of Conformity, a legally binding document prepared by the manufacturer stating that the device is in compliance with the applicable European requirements. At this time, the CE Marking may be affixed.

	9.	Register the device and its Unique Device Identifier (UDI) in the EUDAMED database. UDI must be on label and associated with the regulatory documents.

	10.	For Class I (self-certified), annual NB audits are not required. However, CER, Technical File, and PMS activities must be kept updated. For all other classes, the company will be audited each year by a Notified Body to ensure ongoing compliance with the MDR. Failure to pass the audit will invalidate the CE Marking certificate. The company must perform Clinical Evaluation, PMS, and PMCF.

	●	Name and address of the manufacturer, and of the importer as applicable;

	●	Description of the intended use of the medical device and of its medical indications;

	●	Technical details of the medical device and of its components, and in the event that the device or the components are not new, information should be provided on the date or renovation;

	●	Certificate attesting to the safety of the device, issued by a competent authority of one of the following countries: Australia, Canada, European Community (EC), Member States (MSs), Israel, Japan, or the United States;

	●	Information on any risk which may be associated with the use of the device (including precautionary measures to be taken);

	●	Instructions for use of the device in Hebrew; the MOH may allow the instructions to be in English for certain devices;

	●	Details of the standards to which the device complies;

	●	Description of the technical and maintenance services, including periodic checks and inspections; and

	●	Declaration, as appropriate: of the local manufacturer/importer, and of the foreign manufacturer.

	●	Reside and maintain a place of business in Israel and serve as the regulatory representative.

	●	Respond to questions from AMAR concerning the registered products.

	●	Report adverse events to AMAR.

	●	Renew the registration on time to keep the market approval active.

	●	the timing and outcomes of the product candidates’ regulatory reviews, subsequent approvals or clearances, or other regulatory actions;

	●	the final outcome of the Company’s existing lawsuit with Empery and Hudson Bay;

	●	the costs, design, duration and any potential delays of the clinical trials that could be conducted at the FDA’s request using Microbot’s product candidates;

	●	the costs of acquiring, licensing or investing in new and existing businesses, product candidates and technologies;

	●	the costs to maintain, expand and defend the scope of Microbot’s intellectual property portfolio;

	●	the costs to secure or establish sales, marketing and commercial manufacturing capabilities or arrangements with third parties regarding same;

	●	the Company’s need and ability to hire additional management and scientific and medical personnel; and

	●	the costs to operate as a public company in the United States.

	●	our ability to obtain additional capital;

	●	With respect to the SCS device, approval of the FDA to participate in an EFS program and/or successful completion of animal studies and, if necessary, additional human clinical trials (beyond the EFS trials) and the collection of sufficient data to demonstrate that the device is safe and effective for its intended use;

	●	With respect to all of our product candidates, successful completion of animal studies and, if necessary, human clinical trials and the collection of sufficient data to demonstrate that the device is safe and effective for its intended use;

	●	receipt of marketing approvals or clearances from the FDA and other applicable regulatory authorities;

	●	establishing commercial manufacturing arrangements with one or more third parties;

	●	obtaining and maintaining patent and trade secret protections;

	●	protecting Microbot’s rights in its intellectual property portfolio;

	●	establishing sales, marketing and distribution capabilities;

	●	generating commercial sales, if and when approved, whether alone or in collaboration with other entities;

	●	acceptance of our product candidates, if and when commercially launched, by the medical community, patients and third-party payors;

	●	effectively competing with existing and competitive products on the market and any new competing products that may enter the market; and

	●	maintaining quality and an acceptable safety profile of our products following clearance or approval.

	●	limitations on supply availability resulting from capacity, internal operational problems or scheduling constraints of third parties;

	●	potential regulatory non-compliance or other violations by the third-party manufacturer that could result in quality assurance;

	●	the possible breach of manufacturing agreements by third parties because of various factors beyond Microbot’s control; and

	●	the possible termination or non-renewal of manufacturing agreements by third parties for various reasons beyond Microbot’s control, at a time that is costly or inconvenient to Microbot.

	●	untitled letters, warning letters, fines, injunctions, consent decrees and civil penalties;

	●	detention or seizure of Microbot products;

	●	operating restrictions or partial suspension or total shutdown of production;

	●	refusing or delaying requests for 510(k) clearance or premarket approval of new products or modified products;

	●	withdrawing 510(k) clearances or other types of regulatory authorizations -that have already been granted;

	●	refusing to grant export approval for Microbot products; or

	●	criminal prosecution.

	●	difficulties in the integration of acquired operations, services and products;

	●	failure to achieve expected synergies;

	●	diversion of management’s attention from other business concerns;

	●	assumption of unknown material liabilities of acquired companies;

	●	amortization of acquired intangible assets, which could reduce future reported earnings;

	●	potential loss of clients or key employees of acquired companies; and

	●	dilution to existing stockholders.

	●	adverse macroeconomic conditions affecting geographies where Microbot intends to do business;

	●	closing of international borders, including as a result of biohazards or pandemics;

	●	foreign currency exchange rates;

	●	political or social unrest or economic instability in a specific country or region;

	●	higher costs of doing business in certain foreign countries;

	●	infringement claims on foreign patents, copyrights or trademark rights;

	●	difficulties in staffing and managing operations across disparate geographic areas;

	●	difficulties associated with enforcing agreements and intellectual property rights through foreign legal systems;

	●	trade protection measures and other regulatory requirements, which affect Microbot’s ability to import or export its product candidates from or to various countries;

	●	adverse tax consequences;

	●	unexpected changes in legal and regulatory requirements;

	●	military conflict, terrorist activities, natural disasters and medical epidemics; and

	●	Microbot’s ability to recruit and retain channel partners in foreign jurisdictions.

	●	actual or anticipated fluctuations in our quarterly or annual operating results;

	●	changes in financial or operational estimates or projections;

	●	conditions in markets generally;

	●	changes in the economic performance or market valuations of companies similar to ours;

	●	announcements by us or our competitors of new products, acquisitions, strategic partnerships, joint ventures or capital commitments;

	●	our intellectual property position; and

	●	general economic or political conditions in the United States, Israel or elsewhere.

	Number of securities to be issued upon exercise of outstanding options, warrants and rights		Weighted- average exercise price of outstanding options, warrants and rights		Number of securities remaining available for future issuance
Plan Category
Equity compensation plans approved by security holders:
2017 Equity Incentive Plan		531,299	$	10.48		92,419
2020 Omnibus Performance Award Plan		326,426	$	7.86		1,094,226
Equity compensation plans not approved by security holders:
Microbot Israel Employee Stock Option Plan(1)		61,577	$	0.01		-
Stock Options (2)		77, 846	$	4.20		-
Total		997,148				1,186,645

	For the Years Ended December 31,
	2021			2020			Change
Research and development expenses	$	(6,153	)	$	(3,396	)	$	(2,757	)
General and administrative expenses		(5,204	)		(5,693	)		489
Financing income (expenses), net		44			(80	)		124

Name	Age	Position
Harel Gadot	50	President, Chief Executive Officer and Chairman of the Board of Directors
Yoseph Bornstein(1)(3)	64	Director
Scott Burell(1)(2)	57	Director
Martin Madden(1)(3)	61	Director
Prattipati Laxminarain(2)	64	Director
Aileen Stockburger(3)	59	Director
Tal Wenderow(2)	47	Director

(1)	Member of Audit Committee.

(2)	Member of Corporate Governance Committee.

(3)	Member of Compensation Committee.

Name and Principal Position	Year		Salary ($)		Bonus ($)			Stock Awards ($)		Option Awards ($) (1)		Non-Equity Incentive Plan Compensation ($)		All Other Compensation ($)			Total ($)

Harel Gadot		2021		500,000		300,000	(2)		–		959,618		–		13,800	(3)		1,555,800
CEO, President & Chairman		2020		450,000		270,000	(4)		–		1,622,446		–		13,800	(3)		2,356,246

Simon Sharon(4)		2021		365,472		110,293			–		58,142		–		26,106	(5)		560,013
CTO and General Manager		2020		311,216		56,250			–		53,069		–		23,210	(5)		443,745

Eyal Morag(6)		2021		453,000		91,000			–		46,000		–		23,059	(5)		613,059
Chief Medical Officer		2020		243,000		–			–		21,622		–		7,079	(5)		271,701

David Ben Naim		2021		81,754		–			–		–		–		–			81,754
Chief Financial Officer		2020		82,242		–			–		20,308		–		–			102,550

(1)	Amounts shown do not reflect cash compensation actually received by the named executive officer. Instead, the amounts shown are the non-cash aggregate grant date fair values of stock option awards made during the periods presented as determined pursuant to ASC Topic 718 and excludes the effect of forfeiture assumptions. The assumptions used to calculate the fair value of stock option awards are set forth under Note 9 to the Consolidated Financial Statements of the Company included in this Annual Report on Form 10-K for the fiscal year ended December 31, 2021.
(2)	Represents Mr. Gadot’s bonus of $300,000 for the 2021 fiscal year, which amount was actually paid in 2022.
(3)	All Other Compensation includes Mr. Gadot’s monthly automobile allowance and tax gross-up.
(3)	Represents Mr. Gadot’s bonus of $270,000 for the 2020 fiscal year, which amount was actually paid in 2021.
(4)	Mr. Sharon commenced employment in April 2018, and was promoted to General Manager of Microbot Israel in April 2021.
(5)	All Other Compensation includes the executive’s yearly automobile allowance.
(6)	Dr. Morag commenced employment on May 1, 2020. Dr. Morag entered into an Employment Agreement with the Company as of February 18, 2020.

Name	Fees earned or paid in cash		Stock Awards		Option Awards (1)		Non-Equity Incentive Plan Compensation		Nonqualified Deferred Compensation Earnings		All Other Compensation		Total

Yoseph Bornstein	$	52,500		–	$	12,767		–		–		–	$	65,267
Scott Burell	$	60,000		–	$	12,767		–		–		–	$	72,767
Martin Madden	$	60,000		–	$	12,767		–		–		–	$	72,767
Prattipati Laxminarain	$	45,000		–	$	14,233		–		–		–	$	59,233
Aileen Stockburger	$	42,500		–	$	18,788		–		–		–	$	61,288
Tal Wenderow	$	40,000		–	$	19,412		–		–		–	$	59,412

Beneficial Owner	Number of Shares Beneficially Owned		Percentage of Common Stock Beneficially Owned
Chasing Value Asset Management Inc.⁽¹⁾		610,657		8.59	%
Harel Gadot⁽²⁾		614,606		8.10	%
Yoseph Bornstein⁽³⁾		255,169		3.58	%
Scott Burell⁽⁴⁾		13,141		*
Martin Madden⁽⁴⁾		13,141		*
David Ben Naim⁽⁴⁾		5,000		*
Prattipati Laxminarain⁽⁴⁾		13,141		*
Aileen Stockburger⁽⁴⁾		6,963		*
Simon Sharon⁽⁴⁾		23,107		*
Eyal Morag⁽⁴⁾		15,625		*
Tal Wenderow⁽⁴⁾		6,455		*
All current directors and executive officers as a group (10 persons)⁽⁵⁾		966,348		12.56	%