Senseonics Announces Equity Grants To Employees Under Inducement Plan
January 06 2021 - 4:05PM
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 January 5, 2021, Senseonics Compensation Committee granted
four new non-executive employees, in the aggregate, non-qualified
stock options to purchase an aggregate of 22,000 shares and a
restricted stock unit for 280,000 shares of the Company’s common
stock as an inducement for such employees to join the Company. The
options have an exercise price of $0.95 per share, which was the
closing price of the Company’s common stock on the NYSE American on
January 5, 2021. 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 38 month period following the first anniversary
of the start date beginning with May 15, 2022, subject to the
employee’s continuous employment through 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.
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Senseonics Investor Contact Lynn Lewis or Philip Taylor
Investor Relations 415-937-5406 investors@senseonics.com
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