Senseonics (NYSE:SENS) announced that it made equity grants to new employees under its 2019 inducement plan.
Germantown, Maryland–based Senseonics, which develops the Eversense family continuous glucose monitoring (CGM) systems, including the latest-generation Eversense E3 180-day CGM, made the equity grants in accordance with the NYSE American Company Guide Section 711(a).
On July 1, 2022, Senseoincs’ 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.
According to a news release, the options granted to employees have an exercise price of $1.02 per share, which represents the closing price of Senseonics’ common stock on the NYSE on July 1, 2022. Shares of SENS were trading at $1.04 apiece this morning.
In each case of the options, 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.