Germantown, Maryland-based Senseonics granted the employees non-qualified stock options. The options allow them to purchase an aggregate of 78,000 shares of the company’s common stock. It represents an inducement for such employees to join the company, according to a news release.
The options have an exercise price of $1.34 per share. That marks the closing price of Senseonics common stock on the NYSE yesterday, Oct. 5, 2022. In each case, 25% of the shares underlying the options vest on the first anniversary of the employee’s start date. The remainder vest in monthly installments over the subsequent three-year period.
In all cases, the options remain contingent on such employee’s continued service with Senseonics at the applicable vesting date.
The continuous glucose monitor (CGM) maker also announced that it plans to participate in the upcoming Morgan Stanley Global Healthcare Conference in New York.
