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Better Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Better Therapeutics (NASDAQ: BTTX) announced the approval of a nonqualified stock option for 200,000 shares to Diane Gomez-Thinnes, its Chief Commercial Officer, as a part of the 2022 Inducement Plan, effective December 1, 2022. The option's exercise price will match the closing stock price on the Grant Date and will vest annually over four years, contingent on her continued service. Better Therapeutics is focused on developing cognitive behavioral therapy solutions for cardiometabolic diseases, aiming to enhance health outcomes while lowering healthcare costs.
Positive
Granting of stock options may align the interests of the CCO with company performance.
The company's focus on cognitive behavioral therapy for cardiometabolic diseases could lead to significant improvements in patient health.
Negative
The issuance of stock options may dilute existing shareholders' equity.
Dependence on the success of FDA-regulated product development poses inherent risks.
SAN FRANCISCO--(BUSINESS WIRE)--
Better Therapeutics, Inc. (NASDAQ: BTTX), a prescription digital therapeutics company developing a novel form of cognitive behavioral therapy to address the root causes of cardiometabolic diseases, today announced that the compensation committee of Better Therapeutics’ board of directors approved the grant of a nonqualified stock option exercisable for 200,000 shares of Better Therapeutics’ common stock to Diane Gomez-Thinnes, Chief Commercial Officer, under the company’s 2022 Inducement Plan, effective on December 1, 2022 (Grant Date). The stock option was granted as an inducement material to Ms. Gomez-Thinnes becoming an employee of Better Therapeutics in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock option will have a per share exercise price equal to the closing price of a share of Better Therapeutics’ common stock on the Grant Date. The stock option vests in equal annual installments over a four-year period starting on the one-year anniversary of the Grant Date, subject to Ms. Gomez-Thinnes’ continued service through the applicable vesting dates. The stock option is subject to the terms and conditions of the company’s 2022 Inducement Plan and applicable stock option agreement thereunder.
About Better Therapeutics
Better Therapeutics is a prescription digital therapeutics (PDT) company developing a novel form of cognitive behavioral therapy (CBT) to address the root causes of cardiometabolic diseases. The company has developed a proprietary platform for the development of FDA-regulated, software-based solutions for type 2 diabetes, heart disease and other conditions. The CBT delivered by Better Therapeutics’ PDT is designed to enable changes in neural pathways of the brain so lasting changes in behavior become possible. Addressing the underlying causes of these diseases has the potential to dramatically improve patient health while lowering healthcare costs. Better Therapeutics’ clinically validated mobile applications, if authorized for marketing, are intended to be prescribed by physicians and reimbursed like traditional medicines.
