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.
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.