908 Devices Appoints Kola Otitoju as Chief Business & Strategy Officer and Announces an Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

BURLINGTON, Mass.--(BUSINESS WIRE)--908 Devices Inc. (Nasdaq: MASS), a pioneer of purpose-built handheld devices for chemical analysis, announces the appointment of Kola Otitoju as its Chief Business & Strategy Officer, a newly created executive position. Mr. Otitoju will oversee product and corporate strategy, business development, mergers and acquisitions, and partnership initiatives as 908 Devices expands its market presence across public health, safety, and defense-tech applications.

Mr. Otitoju brings over 25 years of proven executive leadership in strategy, business development, and P&L management across the medical technology, life sciences, and industrial sectors. Most recently, he served as Senior Vice President of Strategy & Business Development at Repligen Corporation, where he led the company's global corporate strategy and executed more than 15 M&A transactions and strategic partnerships over six years, supporting the company's approximately 20% compound annual growth rate to over $700 million of revenues.

“We are thrilled to welcome Kola to 908 Devices as we build on the momentum of our 2.0 transformation and enter our next phase of growth,” said Kevin J. Knopp, CEO and Co-founder. “His exceptional track record in driving both organic and inorganic growth makes him the ideal leader to accelerate our strategic initiatives and deliver long-term shareholder value. M&A and industry partnerships have already been successful and integral to our strategy, and we intend to lean in further. Kola’s appointment reinforces this commitment and positions us to execute at an even higher level.”

Prior to Repligen, Mr. Otitoju held senior strategy and business development roles at Candela Medical (an Apax Partners portfolio company), Baxter International, and GE Healthcare, where he served as Managing Director and Head of Business Development. Earlier in his career, he spent eight years in investment banking at Credit Suisse and Bank of America Securities, advising on M&A transactions across healthcare, industrials, and technology sectors. Mr. Otitoju holds an MBA from Harvard Business School, a master’s degree in electrical engineering from Cornell University, and a bachelor’s degree in information systems from Imperial College, London.

Details on Inducement Grant of RSUs and Options

908 Devices also announces that, on April 21, 2026, the Compensation Committee of its Board of Directors granted an aggregate of 110,193 restricted stock units (RSUs) of 908 Devices and options to purchase an aggregate of 146,789 shares of 908 Devices’ common stock to Mr. Otitoju, its newly appointed Chief Business & Strategy Officer. The RSUs and options were granted as a material inducement to Mr. Otitoju’s employment with 908 Devices Inc. in accordance with Nasdaq Listing Rule 5635(c)(4) and were granted under the 908 Devices Inc. 2026 Inducement Plan (the Plan).

The RSUs will vest equally over three years on May 1, 2027, May 1, 2028, and May 1, 2029 subject to Mr. Otitoju’s continued service with 908 Devices. The inducement stock option has an exercise price of $7.26 per share, which is equal to the closing price of 908 Devices’ common stock on the grant date of April 21, 2026. The inducement stock option vests over three years, with 1/3 of the shares vesting on May 1, 2027 and the remaining 2/3 vesting in 24 equal monthly installments thereafter, subject to continued service through each applicable vesting date. The foregoing inducement award is subject to the terms and conditions of the Plan, and the terms and conditions of the applicable award agreement covering the grant.

About 908 Devices
908 Devices is revolutionizing chemical analysis with its simple handheld devices, addressing life-altering applications. The Company’s devices are used at the point-of-need to interrogate unknown and invisible materials and provide quick, actionable answers in vital health, safety and defense tech applications, addressing the fentanyl and illicit drug crisis, toxic carcinogen exposure, and global security threats. The Company designs and manufactures innovative products that bring together the power of complementary analytical technologies, software automation, and machine learning. For more information, visit 908devices.com.

Forward Looking Statements for 908 Devices
This press release includes "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are forward-looking statements, including, without limitation, statements regarding the expected uses and capabilities of the Company’s products. Words such as "may," "will," "expect," "plan," "anticipate," "estimate," "intend" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on management’s current expectations and involve known and unknown risks, uncertainties and assumptions which may cause actual results to differ materially from any results expressed or implied by any forward-looking statement, including the risks outlined under "Risk Factors" in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the SEC) on March 9, 2026 and elsewhere in the Company’s filings with the SEC which are available on the SEC's website at www.sec.gov. Additional information will be made available in the Company’s Annual Reports and Quarterly Reports and other filings that it makes from time to time with the SEC. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it cannot guarantee future results. The Company has no obligation, and does not undertake any obligation, to update or revise any forward-looking statement made in this press release to reflect changes since the date of this press release, except as may be required by law.