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DarioHealth Corp.

For the period ended Dec 31, 2025. Filed Mar 19, 2026.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Mar 19, 2026

DRIO$2.06-13.3%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 11. Executive Compensation

The following table summarizes compensation of our named executive officers, as of December 31, 2025 and 2024.

Summary Compensation Table

​​​​​​​​​​​​​​​​​​​​​​​​​
​ · ​ · ​ · ​ ​ ​ · ​ · ​ · ​ ​ ​ · ​ · ​ · ​ · ​ · ​ · ​ · Option · ​ · Non-equity · ​ · Non-qualified · ​ · All Other · ​ · ​ · ​
Name and · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · Awards · ​ · incentive plan · ​ · incentive plan · ​ · Compensation · ​ · Total
Principal Position · ​ ​ ​ · Year · ​ ​ ​ · Salary ($)* · ​ ​ ​ · Bonus ($) · ​ ​ ​ · Stock Awards · ​ ​ ​ · ($)** · ​ ​ ​ · compensation · ​ ​ ​ · compensation · ​ ​ ​ · ($) · ​ ​ ​ · ($)
Erez Raphael​2025​$483,366(1)$249,860(2)$425,400(3)$—​—​—​$191,512(4)$1,350,138
(Chief Executive Officer)​2024​$448,293(1)$—(2)$1,344,000(3)$—​—​—​$169,791(4)$1,962,084
​​​​​​​​​​​​​​​​​​​​​​​​​
Chen Franco Yehuda2025​$201,449(5)​—​$362,950(6)$—​—​—​$53,922(7)$618,321
(Chief Financial Officer)2024​$—(5)​—​$—(6)$—​—​—​$—(7)$—
​​​​​​​​​​​​​​​​​​​​​​​​​
Zvi Ben David2025​$274,259(8)​—​$—(9)$—​—​—​$76,581(10)$350,840
(Former Chief Financial Officer)2024​$327,311(8)​—​$672,000(9)$—​—​—​$87,144(10)$1,086,455
​​​​​​​​​​​​​​​​​​​​​​​​​
Steven Nelson2025​$400,004(11)$—​$212,700​$—(12)—​—​$78,203(13)$690,907
(Chief Commercial Officer) (20)2024​$212,308(11)$—​$—​$532,500(12)—​—​$44,564(13)$789,372
​​​​​​​​​​​​​​​​​​​​​​​​​
​​​​​​​​​​​​​​​​​​​​​​​​​
*Certain compensation paid by the company is denominated in NIS. Such compensation is calculated for purposes of this table based on the annual average currency exchange for such period.
**Amount shown does not reflect dollar amount actually received. Instead, this amount reflects the aggregate grant date fair value of each stock option granted in the fiscal years ended December 31, 2025, and December 31, 2024, computed in accordance with the provisions of ASC 718 “Compensation-Stock Compensation” (“ASC 718”). Assumptions used in accordance with ASC 718 are included in Note 16 to our consolidated financial statements included in this Annual Report.
(1)In accordance with his second amendment to the employment agreement with our company effective August 11, 2013, Mr. Raphael was initially entitled to a monthly salary of NIS 44,000. Since August 2013, the Compensation Committee has approved several increases to Mr. Raphael’s monthly salary, most recently on April 1, 2021, when his monthly salary was increased to NIS 137,466 (approximately $37,078 per month).
(2)In January 2025, Mr. Raphael was paid a bonus of $249,860 for his performance during 2024.
(3)On September 11, 2025, Mr. Raphael was granted 60,000 restricted shares of our common stock under our 2020 Equity Incentive Plan. On March 6, 2024, Mr. Raphael was granted 40,000 restricted shares of our common stock under our 2020 Equity Incentive Plan.
(4)In addition to his salary, Mr. Raphael is entitled to receive a leased automobile and mobile phone during his employment as well as reimbursements for expenses accrued. These benefits, as well as other social benefits under Israeli law, are included as part of his “All Other Compensation.”
(5)In accordance with her employment agreement with our Company effective May 15, 2025, Ms. Franco is entitled to a monthly salary and additional compensation (excluding social benefits under applicable Israeli law) of NIS 82,000 (approximately $26,000).
(6)On April 18, 2025, the Board of Directors appointed Ms. Chen Franco-Yehuda to serve as the Company’s Chief Financial Officer, Treasurer and Secretary, effective as of May 15, 2025. In connection with her appointment, the Company agreed to issue Ms. Franco-Yehuda 25,000 restricted shares of the Company’s common stock, pursuant to the Company’s Amended and Restated 2020 Equity Incentive Plan, as amended. On September 11, 2025, Ms. Franco was granted 5,000 restricted shares of our common stock under our 2020 Equity Incentive Plan.
(7)In addition to her salary, Ms. Chen Franco-Yehuda is entitled to receive a mobile phone during her employment as well as reimbursements for expenses accrued. These benefits, as well as other social benefits under Israeli law, are included as part of her “All Other Compensation.”
(8)In accordance with his employment agreement with our company effective January 8, 2015, Mr. Ben David was initially entitled to a monthly salary and additional compensation (excluding social benefits under applicable Israeli law) of NIS 31,200 (approximately $8,415) for providing eighty percent of his working time to our company. Beginning on March 1, 2015, Mr. Ben David began working for us on a full-time basis pursuant to the terms of his employment agreement at which point Mr. Ben David’s salary was increased to NIS 39,000 (approximately $10,519 per month. Since March 2015, the Compensation Committee has approved several increases to Mr. Ben David’s salary, on March 1, 2024, when his monthly salary was updated to NIS 105,000 (approximately $28,471). On April 18, 2025, the Company, through its wholly owned subsidiary Labstyle Innovation Ltd., executed a Termination of Employment and Separation Agreement with Mr. Ben David, pursuant to which Mr. Ben David’s position as Chief Financial Officer, Secretary and Treasurer, terminated effective May 15, 2025. We also agreed to pay Mr. Ben-David, in lieu of his notice period and accrued vacation, a reduced monthly payment of 52,500 NIS (approximately $14,266) for the period from July 1, 2025 through December 31, 2025, and 47,775 NIS (approximately $12,982) for the period January 1, 2026 through October 31, 2027. The amounts payable to Mr. Ben David pursuant to the Termination of Employment and Separation Agreement are reflected in the compensation amounts reported in the table above.
(9)On March 6, 2024, Mr. Ben David was granted 20,000 restricted shares of our common stock under our 2020 Equity Incentive Plan.
(10)In addition to his salary, Mr. Ben David was entitled to receive a mobile phone during his employment as well as reimbursements for expenses accrued. These benefits, as well as other social benefits under Israeli law, are included as part of his “All Other Compensation.”
(11)In accordance with his employment agreement, effective in June 2024, Mr. Nelson was entitled to a monthly salary of $33,333.33.
(12)On June 5, 2024, Mr. Nelson was granted 25,000 options to purchase shares of our common stock as an inducement grant pursuant to Nasdaq Listing Rule 5635 (c)(4), at an exercise price of $27.00 per share.
(13)In addition to his salary, Mr. Nelson is entitled to participate in any and other benefit plans and programs that we may offer to our employees from time to time according to the terms of such plans and the Company’s practices and policies as well as reimbursements for expenses accrued. These benefits are included as part of his “All Other Compensation.”

All compensation awarded to our executive officers was independently reviewed by our Compensation Committee.

Employment and Related Agreements

Except as set forth below, we currently have no other written employment agreements with any of our officers and directors. The following is a description of our current executive employment agreements:

Erez Raphael,Chief Executive Officer and a Member of the Board of Directors – On August 30, 2013, LabStyle Innovation Ltd., our Israeli subsidiary, entered into an amendment to a Personal Employment Agreement with Mr. Raphael in connection with his August 2013 appointment as our President and Chief Executive Officer. Pursuant to the terms of his employment agreement as amended, Mr. Raphael is entitled to a monthly salary of NIS 137,466 (approximately $37,275) and a target bonus equal to 75% of his annual base salary.

On July 25, 2017, we, through our Israeli subsidiary, LabStyle Innovation Ltd., executed an Amended and Restated Employment Agreement with Mr. Raphael. Pursuant to the agreement, Mr. Raphael kept his monthly salary and shall be eligible for an annual bonus equal to up to 60% of his annual base salary. In the event Mr. Raphael’s employment agreement is terminated by us at will, by Mr. Raphael for good reason as provided thereby, or in conjunction with a change of control, Mr. Raphael shall be entitled to receive 24 months base salary and severance payment pursuant to applicable Israeli severance law, provided, however, that in the event such termination occurs during the final year of the term, or

within the last 6 months of a renewal period of the term, Mr. Raphael shall be entitled to receive 12 months base salary and severance payment pursuant to applicable Israeli severance law. In the event the employment agreement is terminated by us for cause, Mr. Raphael will only be entitled to a severance pay under applicable Israeli severance law. Mr. Raphael’s employment agreement also includes a one-year non-competition and non-solicitation provision, certain confidentiality covenants and assignment of any of his company-related inventions. Under the terms of the agreement, Mr. Raphael is entitled to certain expense reimbursements and other standard benefits, including vacation, sick leave, contributions to a manager’s insurance policy and study fund and car and mobile phone allowances. On February 12, 2020, we extended Mr. Raphael’s employment term to expire on December 31, 2022. The employment agreement has since renewed automatically, continuing for additional one-year terms. According to the agreement, if we and Mr. Raphael do not mutually agree to extend or terminate the agreement before the end of any set term, as is the current situation, the employment agreement will automatically renew and continue for additional one-year terms following the expiration date.

Chen Franco-Yehuda, Chief Financial Officer, Treasurer and Secretary — On April 18, 2025, the Board appointed Ms. Franco-Yehuda, as our Chief Financial Officer, Treasurer and Secretary effective May 15, 2025. In connection with her appointment, we, through our wholly owned subsidiary Labstyle Innovation Ltd., entered into an employment agreement and a standard indemnification agreement with Ms. Franco-Yehuda. Pursuant to the terms of her Employment Agreement, we agreed to pay Ms. Franco-Yehuda a monthly salary of NIS 82,000 (approximately $26,000), as well as a target bonus equal to a gross amount of up to six times her base salary, subject to meeting certain milestones as annually approved by the Compensation Committee and/or the Board.

Ms. Franco-Yehuda’s employment agreement may be terminated by either party at will upon 90 days prior written notice or terminated by us for cause, as defined under the employment agreement. In the event the employment agreement is terminated by us or by her at will, Ms. Franco-Yehuda shall be entitled to receive a minimum of 90 days of severance plus any required severance payment pursuant to applicable Israeli severance law, including an adjustment period where she will continue to receive severance (whereby Ms. Franco will accrue one month of an adjustment period for each year of her employment, commencing as of April 27, 2025, but in no event will the adjustment period exceed six (6) months in the aggregate). In the event the employment agreement is terminated by the Company for cause, Ms. Franco-Yehuda will only be entitled to a severance pay under applicable Israeli severance law. In the event of a change of control of the Company, Ms. Franco-Yehuda will be entitled to a six (6) month adjustment period and a full acceleration of any unvested awards. The Employment Agreement also includes a twelve-month non-competition and non-solicitation provision, certain confidentiality covenants and assignment of any of her company-related inventions to the company. Under the terms of the Employment Agreement, Ms. Franco-Yehuda is entitled to certain expense reimbursements and other standard benefits, including vacation, sick leave, contributions to a manager’s insurance policy and study fund and mobile phone allowances.

In addition, we issued to Ms. Franco-Yehuda 25,000 restricted shares of Common Stock, pursuant to our Amended and Restated 2020 Equity Incentive Plan, as amended. The restricted shares vest over three years, with one third of such shares vesting on April 27, 2026, and the remaining shares vesting in equal quarterly amounts.

On September 11, 2025, we issued 5,000 restricted shares Common Stock to Ms. Chen Franco-Yehuda, pursuant to our Amended and Restated 2020 Equity Incentive Plan. The restricted shares vest in two equal installments on the last day of each successive annual anniversary after the grant date over a two-year period.

Steven Nelson, Chief Commercial Officer and President – On June 5, 2024, we appointed Mr. Nelson as our Chief Commercial Officer. In connection with Mr. Nelson’s appointment, we agreed to pay Mr. Nelson an annual base salary of $400,000. Mr. Nelson shall also be subject to a six-month non-competition and one-year non-solicitation provision, certain confidentiality covenants and assignment of any of his company-related inventions. Mr. Nelson will also be entitled to certain expense reimbursements and other standard benefits, including vacation and sick leave. In addition, Mr. Nelson will be entitled to receive an annual incentive bonus of up to $400,000, subject to certain milestones and performance targets. In conjunction with his appointment as Chief Commercial Officer, we agreed to issue Mr. Nelson a stock option to purchase up to 25,000 shares of common stock, with such shares vesting over three years, with one third of such shares vesting on June 1, 2025, and the remaining shares vesting in equal quarterly amounts. In addition, we agreed to issue Mr. Nelson a stock option to purchase 20,000 shares of common stock, of which 7,500 shares commence vest upon our achieving 92% of a targeted revenue amount for the year ended December 31, 2024, and the remaining balance of 12,500 shares if the annual revenue is 100% or more of a targeted amount, provided, however that such options shall be canceled if the annual revenue does not reach at least 92% of the targeted amount. We also agreed to issue Mr. Nelson a stock option to purchase 22,500 shares of common stock, for each of the years ending December 31, 2025, December 31, 2026 and December 2027, of which 7,500 shares commence vesting if the Company’s annual revenue is at least 92% of a targeted amount, 7,500 shares commence vesting if the Company’s annual revenue is 100% or more of the targeted amount and an additional 7,500 shares will commence vesting upon reaching certain annual goals as determined by the Company’s Board of Directors for such fiscal year, provided, however that such options shall be canceled if the annual revenue does not reach at least 92% of the targeted amount. Each of the performance options vests over a three-year period commencing on the first day of the following fiscal year to which such option relates, at the rate of 8.33% per quarter, at the last day of the relevant fiscal quarter. All options were granted as an inducement material to Mr. Nelson becoming an employee of the Company, in accordance with Nasdaq Listing Rule 5635(c)(4). On September 11, 2025, we issued 30,000 restricted shares of Common Stock to Mr. Nelson, pursuant to our Amended and Restated 2020 Equity Incentive Plan. The restricted share vest on the last day of the second-year anniversary after the grant date.

Zvi Ben David,Former Chief Financial Officer, Treasurer and Secretary – On January 8, 2015, LabStyle Innovation Ltd., our Israeli subsidiary, entered into a Personal Employment Agreement with Mr. Ben David. Pursuant to the terms of his employment agreement, as amended, Mr. Ben David is entitled to a monthly salary of NIS 105,000 (approximately $28,471) and a target bonus equal to 40% of his base salary.

The employment agreement also included a twelve-month non-competition and non-solicitation provision, certain confidentiality covenants and assignment of any of his company-related inventions to the company. Under the terms of the employment agreement, Mr. Ben David was entitled to certain expense reimbursements and other standard benefits, including vacation, sick leave, contributions to a manager’s insurance policy and study fund and mobile phone allowances. On April 18, 2025, the Company, through its wholly owned subsidiary Labstyle Innovation Ltd., executed a Termination of Employment and Separation Agreement with Mr. Ben David, pursuant to which Mr. Ben David’s position as Chief Financial Officer, Secretary and Treasurer, terminated effective May 15, 2025. We also agreed to pay Mr. Ben-David, in lieu of his notice period and accrued vacation, a reduced monthly payment of 52,500 NIS (approximately $14,266) for the period from July 1, 2025 through December 31, 2025, and 47,775 NIS (approximately $12,982) for the period January 1, 2026 through October 31, 2027.

Outstanding Equity Awards on December 31, 2025

​​​​​​​​​​​​​​​​
​ · ​ · Option Awards · ​ · Stock Awards
​​​​ ​ ​​​ ​ ​Equity​ ​ ​​​​​​​​ ​ ​​
​​​​​​incentive​​​​​​​​​
​​​​​​plan awards:​​​​​​​​​
​​Number of​Number of​Number of​​​​​​​​Market
​​securities​securities​securities​​​​​​​​value
​​underlying​underlying​underlying​​​​​​Number of​of shares
​ · ​ · unexercised · ​ · unexercised · ​ · unexercised · ​ · Option · ​ · Option · ​ · shares that · ​ · that
​ · ​ · options (#) · ​ · options (#) · ​ · unearned · ​ · exercise · ​ · expiration · ​ · have not · ​ · have not
Name · ​ ​ ​ · exercisable · ​ ​ ​ · unexercisable · ​ ​ ​ · options (#) · ​ ​ ​ · price ($) · ​ · date · ​ · vested (#) · ​ ​ ​ · vested ($)
Erez Raphael​—​—​—​$—​—​60,000(1)$425,400
(Chief Executive Officer)​​​​​​​​​​​​​​​
Chen Franco Yehuda——​—​​—​—​25,000(2)$327,500
(Chief Financial Officer, Secretary and Treasurer)——​—​​—​—​5,000(3)$35,450
Zvi Ben David1,391—​—​$154.72​February 12, 2026​—​—
(Former Chief Financial Officer, Secretary and Treasurer)​​​​​​​​​​​​​​
Steven Nelson12,50012,500(4)—​$27.00​June 5, 2034​30,000(5)$212,700
(Chief Commercial Officer and President)​​​​​​​​​​​​​​
Total Option Shares13,89112,500​​​​​​​​120,000​​

(1)60,000 stock awards shall vest in two equal installments of 30,000 on the last day of each successive annual anniversary after the grant date over a two-year period.

(2)25,000 stock awards vest as follows: (a) 8,334 RSUs vest on April 27, 2026; and (b) 16,666 RSUs vest in eight equal quarterly installments of 2,083 on July 27, 2026, and every three months thereafter.

(3)5,000 stock awards shall vest in two equal installments of 2,500 on the last day of each successive annual anniversary after the grant date over a two-year period.

(4)12,500 vests in 6 equal quarterly amounts over the following two years.

(5)30,000 stock awards shall vest on the last day of the second-year anniversary after the grant date.

We do not have any formal policy that requires us to grant, or avoid granting, equity-based compensation at certain times. We do not grant equity awards in anticipation of the release of material nonpublic information that is likely to result in changes to the price of our common stock, and do not time the public release of such information based on award grant dates. The timing of any equity grants to executive officers or directors in connection with new hires, promotions, or other non-routine grants is tied to the event giving rise to the award (such as an executive officer’s commencement of employment or promotion effective date).

During the year ended December 31, 2025, there were no equity grants made to our executive officers during any period beginning four business days before the filing of a periodic report or current report disclosing material non-public information and ending one business day after the filing or furnishing of such report with the Securities and Exchange Commission that were likely to result in changes to the price of our common stock, and do not time the public release of such information based on award grant dates.

Non-Employee Director Remuneration Policy

In March 2013, our Board of Directors adopted the following non-employee director remuneration policy:

Cash Payments

Our non-employee directors (currently Messrs. Shaked, Matheis, McGrath, Leisure, Stern and Ms. Karah) will receive the following cash payments for each fiscal year: (i) $50,000 per year, to be paid quarterly in arrears and (ii) $20,000 for Board committee service, to be paid quarterly in arrears. Commencing the second quarter of 2024 Messrs Shaked, Mathies, Leisure, Stern and Ms. Karah have waived their cash compensation.

Stock and Option Awards

On February 24, 2025, our Compensation Committee of our Board of Directors, (i) approved to accelerate the vesting of 1,750 restricted shares of our Common Stock; (ii) approved the grant of 1,500 restricted shares of Common Stock to Mr. Kaplan.

On September 11, 2025, the Compensation Committee approved the following issuances, pursuant to our Amended and Restated 2020 Equity Incentive Plan: (i) 20,000 restricted shares of our Common Stock to each of Mr. Shaked, and Ms. Karah. The restricted shares vest in two equal installments on the last day of each successive annual anniversary after the grant date over a two-year period; and (ii) 20,000 restricted shares of our Common Stock to each of Mr. Matheis, Mr. McGrath, Mr. Stern and Mr. Leisure. The restricted share vest on the last day of the second-year anniversary after the grant date. All such grants include a change in control section that accelerates the vesting day in case of change in control event.

Compensation Committee Review

The Compensation Committee shall, if it deems necessary or prudent in its discretion, reevaluate and approve each year the cash and equity awards (amount and manner or method of payment) to be made to non-employee directors for such fiscal year. In making this determination, the Compensation Committee shall utilize such market standard metrics as it deems appropriate, including, without limitation, an analysis of cash compensation paid to independent directors of our peer group.

The Compensation Committee shall also have the power and discretion to determine in the future whether non-employee directors should receive annual or other grants of options to purchase shares of common stock or other equity incentive awards in such amounts and pursuant to such policies as the Compensation Committee may determine utilizing such market standard metrics as it deems appropriate, including, without limitation, an analysis of equity awards granted to independent directors of our peer group.

Participation of Employee Directors; New Directors

Unless separately and specifically approved by the Compensation Committee in its discretion, no employee director of our company shall be entitled to receive any remuneration for service as a director (other than expense reimbursement as per prevailing policy).

New directors joining our Board of Directors shall be entitled to a pro-rated portion (based on months to be served in the fiscal year in which they join) of cash and stock option or other equity incentive awards (if applicable) for the applicable fiscal year at the time they join the board.

Summary Director Compensation Table

The following table summarizes the annual compensation paid to our non-employee directors for the fiscal year ended December 31, 2025:

​​​​​​​​​​​​​​​​​​​​​​​​
​ · ​ · ​ · ​ · Fees Paid · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · Non- · ​ · ​ · ​ · ​ · ​ · ​
​ · ​ · ​ · ​ · or · ​ · ​ · ​ · ​ · ​ · ​ · ​ · Non-equity · ​ · qualified · ​ · ​ · ​ · ​ · ​ · ​
Name and · ​ · ​ · ​ · Earned in · ​ · ​ · ​ · ​ · Option · ​ · incentive · ​ · deferred · ​ · All other · ​ · ​ · ​
Principal · ​ · ​ · ​ · Cash · ​ · Stock · ​ · Awards · ​ · plan · ​ · compensation · ​ · compensation · ​ · ​ · ​
Position · ​ ​ ​ · Year · ​ ​ ​ · ($) · ​ ​ ​ · Awards · ​ ​ ​ · ($)* · ​ ​ ​ · compensation · ​ ​ ​ · earnings · ​ ​ ​ · ($) · ​ ​ ​ · Total ($)
Dennis McGrath2025​$70,000​$141,800(1)$—​$—​$—​$—​$211,800
​​​​​​​​​​​​​​​​​​​​​​​​
Jon Kaplan (9)2025​$—​$20,784(2)$—​$—​$—​$—​$20,784
​​​​​​​​​​​​​​​​​​​​​​​​
Dennis Matheis​2025​$—​$141,800(3)$—(4)$—​$—​$—​$141,800
​​​​​​​​​​​​​​​​​​​​​​​​
Hila Karah2025​$—​$141,800(5)$—​$—​$—​$—​$141,800
​​​​​​​​​​​​​​​​​​​​​​​​
Yoav Shaked2025​$—​$141,800(6)$—​$—​$—​$—​$141,800
​​​​​​​​​​​​​​​​​​​​​​​​
Adam Stern​2025​$—​$141,800(7)$—​$—​$—​$—​$141,800
​​​​​​​​​​​​​​​​​​​​​​​​
Lawrence Leisure​2025​$—​$141,800(8)$—​$—​$—​$—​$141,800
(1)7,738 stock awards are outstanding as of December 31, 2025.
(2)5,579 stock awards are outstanding as of December 31, 2025.
(3)6,881 stock awards are outstanding as of December 31, 2025.
(4)2,750 option awards are outstanding as of December 31, 2025.
(5)10,965 stock awards are outstanding as of December 31, 2025.
(6)13,665 stock awards are outstanding as of December 31, 2025.
(7)8,918 stock awards are outstanding as of December 31, 2025.
(8)12,900 stock awards are outstanding as of December 31, 2025.
(9)Mr. Kaplan resigned from the Board of Directors on February 23, 2025.
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.