ReWalk Robotics, Yokneam Ilit, Israel, and Marlborough, Massachusetts, announced that Wayne B. Weisman resigned from the company’s audit committee effective January 12, but will remain a member of the board of directors. The board then appointed Jay Kalish as a member of the board and the audit committee, also effective January 12.
Weisman is an independent director under the corporate governance rules of NASDAQ; however, due to his affiliation with ReWalk’s greater than 10 percent shareholder, SCP Vitalife Partners, Tel Avivi, Israel, and Malvern, Pennsylvania, he is not considered independent pursuant to Rule 10A-3(b)(1) under the Securities Exchange Act of 1934, as amended. Kalish was appointed to satisfy NASDAQ’s corporate governance rules that the company’s audit committee be comprised of three independent directors. ReWalk and Kalish view his appointments as interim appointments while the company searches for a director who will serve as a permanent appointee to the audit committee. As a Class II director, Kalish will serve in accordance with the company’s articles of association until this year’s annual shareholders meeting and thereafter until his successor is elected and qualified or until his earlier death, resignation, or removal.
Kalish has served as general counsel and partner at OurCrowd Management Limited, Jerusalem, Israel, a hybrid venture capital/crowdfunding platform, since October 2012. He has over 25 years of experience in various legal, investor relations, and management positions. He holds a bachelor’s degree in economics and a juris doctor degree from Yeshiva University. He is admitted to practice law in New York and Israel.
