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

Rhea-AI Summary

LENSAR announced the granting of stock options to two newly-hired non-executive employees as employment inducements. The grants, approved by independent board members, total 650 shares with an exercise price of $5.38 per share, matching the closing price on November 1, 2024. The options vest 25% after one year, followed by 36 monthly installments, contingent on continued employment. The 10-year term options are governed by LENSAR's 2024 Employment Inducement Incentive Award Plan.

Positive

• Stock options granted at current market price, avoiding immediate dilution impact

Negative

• Potential future dilution of 650 shares through employee stock options

ORLANDO, Fla., Nov. 01, 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 two newly-hired non-executive employees stock options to purchase an aggregate of 650 shares of the Company’s common stock. The options were granted as of November 1, 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 $5.38 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 grant date 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

What is the exercise price of LNSR's November 2024 inducement stock options?

The exercise price is $5.38 per share, equal to LENSAR's closing stock price on November 1, 2024.

How many shares were granted in LNSR's November 2024 inducement options?

LENSAR granted options to purchase an aggregate of 650 shares of common stock.

What is the vesting schedule for LNSR's November 2024 inducement options?

The options vest 25% after one year, with the remaining vesting in 36 monthly installments, subject to continued employment.