LENSAR Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

LENSAR (Nasdaq: LNSR) announced that its board of directors has granted stock options to four newly-hired non-executive employees. The grants total 2,475 shares of common stock at an exercise price of $7.70 per share, matching the closing price on December 8, 2024. The options will vest 25% after one year from December 2, 2024, with the remaining amount vesting in 36 monthly installments. Each option has a 10-year term and was granted under LENSAR's 2024 Employment Inducement Incentive Award Plan.

Positive

• Implementation of employee stock incentive program to attract and retain talent

Negative

• Potential future dilution of existing shareholders through stock option grants

ORLANDO, Fla., Dec. 09, 2024 (GLOBE NEWSWIRE) -- LENSAR, Inc. (Nasdaq: LNSR) (“LENSAR” or the “Company”) today announced that a majority of the independent members of LENSAR’s board of directors granted four newly-hired non-executive employees stock options to purchase an aggregate of 2,475 shares of the Company’s common stock. The options were granted as of December 8, 2024, as inducements material to each employee entering into employment with the Company. The options were granted in accordance with Nasdaq Listing Rule 5635(c)(4).

The options have an exercise price of $7.70 per share, which is equal to the closing price of the Company’s common stock on the grant date. The options vest as to 25% of the total amount of the award on the one-year anniversary of the vesting commencement date of December 2, 2024 and in thirty-six substantially equal monthly installments thereafter, subject to the new employee’s continued service with the company. Each stock option has a 10-year term. The options are subject to the terms and conditions of LENSAR’s 2024 Employment Inducement Incentive Award Plan and a stock option agreement covering the grant.

About LENSAR

LENSAR is a commercial-stage medical device company focused on designing, developing, and marketing advanced systems for the treatment of cataracts and the management of astigmatism as an integral aspect of the procedure. LENSAR has developed its ALLY Robotic Cataract Laser System™ as a compact, highly ergonomic system utilizing an extremely fast dual-modality laser and integrating AI into proprietary imaging and software. ALLY is designed to transform premium cataract surgery by utilizing LENSAR’s advanced robotic technologies with the ability to perform the entire procedure in a sterile operating room or in-office surgical suite, delivering operational efficiencies and reducing overhead. ALLY includes LENSAR’s proprietary Streamline^® software technology, which is designed to guide surgeons to achieve better outcomes.

Contacts:		Lee Roth / Cameron Radinovic
Thomas R. Staab, II, CFO		Burns McClellan for LENSAR
ir.contact@lensar.com		lroth@burnsmc.com / cradinovic@burnsmc.com

FAQ

How many shares were granted in LENSAR's (LNSR) December 2024 stock option inducement grants?

LENSAR granted stock options for an aggregate of 2,475 shares to four newly-hired non-executive employees.

What is the exercise price for LENSAR's (LNSR) December 2024 inducement stock options?

The stock options have an exercise price of $7.70 per share, equal to LENSAR's closing stock price on December 8, 2024.

What is the vesting schedule for LENSAR's (LNSR) December 2024 inducement grants?

The options vest 25% after one year from December 2, 2024, with the remaining amount vesting in 36 monthly installments.