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Senseonics Announces Equity Grants To Employees Under Inducement Plan
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Senseonics Holdings, Inc. (NYSE American: SENS) has granted equity awards to 13 new non-executive employees under its 2019 Inducement Plan. On April 4, 2023, the Compensation Committee approved non-qualified stock options for 200,000 shares and restricted stock units for 250,000 shares, with an exercise price of $0.5951 per share. The options and units will vest over time, contingent on continuous employment. Senseonics focuses on developing innovative long-term implantable glucose monitoring systems aimed at improving diabetes management.
Positive
Equity grants to 13 new employees may enhance talent acquisition and retention.
Stock options priced at $0.5951, aligning with the market, encourage performance.
Negative
None.
GERMANTOWN, Md.--(BUSINESS WIRE)--
Senseonics Holdings, Inc. (NYSE American: SENS), a medical technology company focused on the development and manufacturing of long-term, implantable continuous glucose monitoring (CGM) system for people with diabetes, today announced that it had made equity grants to new employees under its 2019 Inducement Plan (the “Plan”) in accordance with NYSE American Company Guide Section 711(a).
On April 4, 2023, Senseonics Compensation Committee granted thirteen new non-executive employees, in the aggregate, non-qualified stock options to purchase an aggregate of 200,000 shares and a restricted stock unit for 250,000 shares of the Company’s common stock as an inducement for such employees to join the Company. The options have an exercise price of $0.5951 per share, which was the closing price of the Company’s common stock on the NYSE American on April 4, 2023. 25% of the shares underlying the options will vest on the first anniversary of the employee’s start date, with the remainder vesting in monthly installments over the subsequent three year period, in all cases contingent on such employee’s continued service with the Company at the applicable vesting date. 25% of the shares underlying the restricted stock unit will vest on the first anniversary of the employee’s start date, with the remainder vesting in six equal installments each May 15th and November 15th over the subsequent 36 month period following the first anniversary of the start date beginning with May 15, 2024, subject to the employee’s continuous employment through the applicable vesting date.
About Senseonics
Senseonics Holdings, Inc. (“Senseonics”) is a medical technology company focused on the development and manufacturing of glucose monitoring products designed to transform lives in the global diabetes community with differentiated, long-term implantable glucose management technology. Senseonics' CGM systems, Eversense®, Eversense® XL and Eversense® E3 include a small sensor inserted completely under the skin that communicates with a smart transmitter worn over the sensor. The glucose data are automatically sent every 5 minutes to a mobile app on the user's smartphone.
Senseonics Investor Contact
Philip Taylor Investor Relations
415-937-5406
investors@senseonics.com
Source: Senseonics Holdings, Inc.
FAQ
What equity grants did Senseonics announce on April 4, 2023?
Senseonics announced that it granted equity awards to 13 new non-executive employees, including non-qualified stock options for 200,000 shares and restricted stock units for 250,000 shares.
What is the exercise price for the stock options granted by Senseonics?
The exercise price for the stock options is $0.5951 per share, reflecting the closing price on the grant date.
How will the stock options and restricted stock units vest for new employees at Senseonics?
The stock options will vest 25% on the first anniversary of the employee's start date, with the remainder vesting monthly over three years. The restricted stock units will vest similarly, with 25% on the first anniversary and the rest in six equal installments every May 15th and November 15th over 36 months.
What is Senseonics' focus in the medical technology sector?
Senseonics focuses on developing and manufacturing long-term implantable continuous glucose monitoring systems for diabetes management.
