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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 announced equity grants to 17 new employees under its 2019 Inducement Plan. On April 1, 2022, the Compensation Committee granted non-qualified stock options for an aggregate of 142,000 shares at an exercise price of $1.94, reflecting the closing stock price on that date. The options will vest over four years, contingent on the employees' continued service. Senseonics aims to expand its Eversense CGM System to more diabetes patients in the U.S. and globally, enhancing their product offerings.
Positive
Equity grants to 17 new non-executive employees may strengthen the team's capability.
The exercise price of $1.94 is aligned with the stock's market price, potentially boosting employee retention.
Negative
No immediate financial metrics provided to indicate revenue impact.
Potential dilution risk for existing shareholders due to new stock options.
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 April 1, 2022, Senseonics Compensation Committee granted 17 new non-executive employees non-qualified stock options to purchase an aggregate of 142,000 shares of the Company’s common stock as an inducement for such employees to join the Company. The options have an exercise price of $1.94 per share, which was the closing price of the Company’s common stock on the NYSE American on April 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 is the recent equity grant by Senseonics?
Senseonics granted non-qualified stock options for 142,000 shares to 17 new employees on April 1, 2022.
What is the exercise price of the new stock options from Senseonics?
The exercise price for the stock options is $1.94 per share.
How will the stock options granted to employees vest?
The options will vest 25% on the first anniversary of the employee's start date, with the remainder vesting monthly over three years.
What is the purpose of Senseonics' Eversense CGM System?
The Eversense CGM System is designed for continuous glucose monitoring in individuals with diabetes, providing data to replace fingerstick measurements.
When were the stock options granted to Senseonics employees?
