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Better Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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SAN FRANCISCO--(BUSINESS WIRE)--
Better Therapeutics, Inc. (NASDAQ: BTTX), a prescription digital therapeutics company developing a novel form of cognitive behavioral therapy to address the root causes of cardiometabolic diseases, today announced that the compensation committee of Better Therapeutics’ board of directors approved the grant of a nonqualified stock option exercisable for 200,000 shares of Better Therapeutics’ common stock to Diane Gomez-Thinnes, Chief Commercial Officer, under the company’s 2022 Inducement Plan, effective on December 1, 2022 (Grant Date). The stock option was granted as an inducement material to Ms. Gomez-Thinnes becoming an employee of Better Therapeutics in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock option will have a per share exercise price equal to the closing price of a share of Better Therapeutics’ common stock on the Grant Date. The stock option vests in equal annual installments over a four-year period starting on the one-year anniversary of the Grant Date, subject to Ms. Gomez-Thinnes’ continued service through the applicable vesting dates. The stock option is subject to the terms and conditions of the company’s 2022 Inducement Plan and applicable stock option agreement thereunder.
About Better Therapeutics
Better Therapeutics is a prescription digital therapeutics (PDT) company developing a novel form of cognitive behavioral therapy (CBT) to address the root causes of cardiometabolic diseases. The company has developed a proprietary platform for the development of FDA-regulated, software-based solutions for type 2 diabetes, heart disease and other conditions. The CBT delivered by Better Therapeutics’ PDT is designed to enable changes in neural pathways of the brain so lasting changes in behavior become possible. Addressing the underlying causes of these diseases has the potential to dramatically improve patient health while lowering healthcare costs. Better Therapeutics’ clinically validated mobile applications, if authorized for marketing, are intended to be prescribed by physicians and reimbursed like traditional medicines.
better therapeutics (f/k/a farewell) is developing prescription digital therapeutics for treating chronic disease. its innovative solution combines software, human coaching augmented by artificial intelligence, and advanced analytics to address the behaviors at the root cause of most chronic conditions, in a manner that can scale rapidly to address millions of covered lives. better’s digital therapeutics are based on well-established evidence, fit within existing clinical treatment guidelines, and can be used with or without other interventions. better believes non-drug treatment options are essential to reducing the unnecessary health and cost burden of chronic disease on individuals, payers, and the nation.
