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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) announced equity grants to 17 new non-executive employees under its 2019 Inducement Plan. Each employee received non-qualified stock options to purchase 199,000 shares at an exercise price of $1.02 per share, corresponding to the closing price on July 1, 2022. The options will vest over four years, contingent on continued employment. Senseonics aims to expand its Eversense Continuous Glucose Monitoring (CGM) System for diabetes management globally.
Positive
Equity grants to 17 new employees could enhance company talent and operational capacity.
The Eversense CGM System is being positioned for broader market reach.
Negative
None.
GERMANTOWN, Md.--(BUSINESS WIRE)--
Senseonics Holdings, Inc. (NYSE American: SENS), a medical technology company focused on the development and commercialization of a long-term, implantable continuous glucose monitoring (CGM) system for people with diabetes, 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 July 1, 2022, Senseonics Compensation Committee granted 17 new non-executive employees non-qualified stock options to purchase an aggregate of 199,000 shares of the Company’s common stock as an inducement for such employees to join the Company. The options have an exercise price of $1.02 per share, which was the closing price of the Company’s common stock on the NYSE American on July 1, 2022. In each case, 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. Senseonics continues to work to bring its Eversense CGM System to more people with diabetes in the U.S. and other markets around the globe and drives to develop enhancements to the system.
About Eversense
The Eversense® Continuous Glucose Monitoring (CGM) System is indicated for continually measuring glucose levels in persons age 18 and older with diabetes for up to 90 days. The system is indicated for use to replace fingerstick blood glucose (BG) measurements for diabetes treatment decisions. Fingerstick BG measurements are still required for calibration twice per day, and when symptoms do not match CGM information or when taking medications of the tetracycline class. The sensor insertion and removal procedures are performed by a health care provider. The Eversense CGM System is a prescription device; patients should talk to their health care provider to learn more. For important safety information, see https://eversensediabetes.com/safety-info/.
About Senseonics
Senseonics Holdings, Inc. is a medical technology company focused on the design, development and commercialization of transformational glucose monitoring products designed to help people with diabetes confidently live their lives with ease. Senseonics' CGM systems, Eversense® and Eversense® XL, 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
Lynn Lewis or Philip Taylor Investor Relations
415-937-5406
investors@senseonics.com
Source: Senseonics Holdings, Inc.
FAQ
What recent equity grants did Senseonics announce?
Senseonics announced equity grants to 17 new non-executive employees, providing them stock options to purchase 199,000 shares at an exercise price of $1.02.
What is the purpose of the stock options granted by Senseonics?
The stock options serve as an inducement for new employees to join the company and will vest over four years.
How does the Eversense CGM System function?
The Eversense CGM System is designed for continuous glucose monitoring and replaces fingerstick measurements for diabetes treatment decisions.
What is the significance of the exercise price set at $1.02 per share?
The exercise price of $1.02 per share reflects the closing stock price of Senseonics on July 1, 2022.
What is the vesting schedule for the stock options granted?
25% of the shares will vest on the first anniversary of the employee’s start date, with the remainder vesting monthly over the following three years.
