Senseonics Announces Equity Grants To Employees Under Inducement Plan

Rhea-AI Summary

Senseonics Holdings, Inc. (NYSE American: SENS) announced it granted equity to 10 new non-executive employees under its 2019 Inducement Plan. On January 5, 2023, the Compensation Committee awarded non-qualified stock options totaling 115,000 shares at an exercise price of $1.02, reflecting the closing share price on the grant date. The options will vest 25% on the first anniversary of employment and monthly thereafter over three years, contingent on continued service. Senseonics specializes in long-term implantable continuous glucose monitoring systems for diabetes management.

Positive

• Granting equity to new employees may enhance retention and align employee interests with shareholder value.
• The exercise price of $1.02 is attractive given the company's focus on innovative diabetes management technology.

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) systems 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 January 5, 2023, the Senseonics Compensation Committee granted 10 new non-executive employees non-qualified stock options to purchase an aggregate of 115,000 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 January 5, 2023. 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.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230105006038/en/

Senseonics Investor Contact

Philip Taylor

Investor Relations

415-937-5406

investors@senseonics.com

Source: Senseonics Holdings, Inc.

FAQ

What recent actions did Senseonics take regarding employee equity?

Senseonics granted non-qualified stock options to 10 new employees, amounting to 115,000 shares at an exercise price of $1.02.

When were the equity grants made by Senseonics?

The equity grants were made on January 5, 2023.

How will the stock options vest for new employees at Senseonics?

The stock options will vest 25% on the first anniversary of employment and monthly over the next three years.

What is the significance of the exercise price of $1.02 for Senseonics?

The exercise price of $1.02 reflects the closing stock price on the grant date, making it an attractive option for new employees.