Just two weeks ago they announced the layoffs of some 600 employees, and now monday.com (Nasdaq: MNDY) founders and co-CEOs Roy Mann and Eran Zinman are asking for a substantial pay rise. In advance of the company’s general shareholders meeting due to be held on August 6, the two are asking the shareholders to approve a plan whereby their compensation could gradually rise from $7.3 million in 2025 to $14.6 million each in 2029, almost double their current pay.
RELATED ARTICLES
monday.com to lay off 620, as it adapts to AI
monday.com launches $200m venture capital arm
monday.com beats analysts, announces strategic change
AI layoffs mount amid software sector bloodbath
The company seeks to raise their monthly salaries by 19% to NIS 110,000 in the first year, and then to give two further rises: in the second year their salaries will rise to NIS 115,000 each and in the third year to NIS 120,000.
The annual stock-based compensation will rise until it reaches the fiftieth percentile of the peer group of companies by 2028. The maximum stock-based compensation for each CEO will be $9.5 million in the first year (2027); $13 million in the second year; and $13.65 million in 2029.
The mix of the proposed stock-based compensation will be altered such that 60% will be dependent on performance instead of 70%. The company states that this change is intended to adapt the mix to the norm among similar companies and to create a better balance.
The ceiling for performance-based compensation will be raised from 100% to 200%. According to monday.com, this is in line with the practice in similar companies.
The company states in the announcement of the shareholders meeting that although the maximum reward for outperformance will rise to 200%, the receipt of this maximum payment will be conditional on achieving exceptional results, strong profitability and meeting the company’s strategic and financial goals.
According to the company, in the past three years (2023-2025) the entitlement of the two CEOs calculated in accordance with the formula for performance-based compensation awarded to them averaged 113.5%, but the actual payment was restricted by the previous ceiling of 100%.
In addition, each of the co-CEOs is entitled to a bonus for meeting targets of 100% of his annual salary, while the maximum payment is 200% of the base salary for performance exceeding targets.
If they meet their targets, Zinman and Mann will receive total compensation of $10.4 million each in 2027, $13.9 million in 2028, and $14.6 million in 2029.
Published by Globes, Israel business news - en.globes.co.il - on August 4, 2026.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.
