LENSAR Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

LENSAR, Inc. (Nasdaq: LNSR) granted two newly-hired non-executive employees stock options to purchase 875 shares of common stock. The options were granted as of May 1, 2024, with an exercise price of $3.07 per share. They vest over time based on continued service. The options are in line with Nasdaq Listing Rule 5635(c)(4) and are subject to the company's 2024 Employment Inducement Incentive Award Plan.

ORLANDO, Fla.--(BUSINESS WIRE)-- LENSAR, Inc. (Nasdaq: LNSR) (“LENSAR” or the “Company”) today announced that a majority of the independent members of LENSAR’s board of directors granted two newly-hired non-executive employees stock options to purchase an aggregate of 875 shares of the Company’s common stock. The options were granted as of May 1, 2024, as inducements material to each employee entering into employment with the Company. The options were granted in accordance with Nasdaq Listing Rule 5635(c)(4).

The options have an exercise price of $3.07 per share, which is equal to the closing price of the Company’s common stock on the grant date. The options vest as to 25% of the total amount of the award on the one-year anniversary of the grant date and in thirty-six substantially equal monthly installments thereafter, subject to the new employee’s continued service with the company. Each stock option has a 10-year term. The options are subject to the terms and conditions of LENSAR’s 2024 Employment Inducement Incentive Award Plan and a stock option agreement covering the grant.

About LENSAR

LENSAR is a commercial-stage medical device company focused on designing, developing, and marketing advanced systems for the treatment of cataracts and the management of astigmatism as an integral aspect of the cataract procedure. LENSAR has developed its next-generation ALLY^® Adaptive Cataract Treatment System, the first platform to integrate proprietary imaging and software, with an extremely fast dual-pulse femtosecond laser in a compact, highly ergonomic system. ALLY is designed to transform premium cataract surgery by utilizing LENSAR’s advanced technologies with the ability to perform the entire procedure in an operating room or in-office surgical suite, delivering operational efficiencies and reduced overhead. ALLY includes LENSAR’s proprietary Streamline^® software technology, designed to guide surgeons to achieve better outcomes.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240501888665/en/

Thomas R. Staab, II, CFO

ir.contact@lensar.com

Lee Roth / Cameron Radinovic

Burns McClellan for LENSAR

lroth@burnsmc.com /

cradinovic@burnsmc.com

Source: LENSAR, Inc.

FAQ

When were the stock options granted to the newly-hired employees?

The stock options were granted as of May 1, 2024.

How many shares of the Company's common stock can be purchased with the options?

The options grant the right to purchase an aggregate of 875 shares of the Company's common stock.

What is the exercise price per share for the stock options?

The exercise price per share for the stock options is $3.07.

Under what conditions do the stock options vest?

The options vest as to 25% of the total amount on the one-year anniversary of the grant date, with the rest vesting in monthly installments thereafter based on continued service.

What is the term for each stock option granted?

Each stock option has a 10-year term.