Business
DarioHealth Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
NEW YORK, Jan. 31, 2020 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO) ("DarioHealth" or the "Company"), a pioneer in the global digital therapeutics
About this update from Dariohealth Corp.
[{"type":"text","content":"NEW YORK, Jan. 31, 2020 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO) (\"DarioHealth\" or the \"Company\"), a pioneer in the global digital therapeutics market, announced today that on January 30, 2020, Richard Anderson was granted a non-qualified stock option award to purchase 90,000 shares of the Company's common stock, as well as an additional non-qualified performance-based stock option award to purchase an additional 90,000 shares of the Company's common stock, pursuant to Nasdaq Listing Rule 5635(c)(4) outside of the Company's existing equity compensation plans in connection with Mr. Anderson's previously-announced employment by the Company as its President and General Manager of North America. These options were granted as an inducement material to Mr. Anderson becoming an employee of the Company, in accordance with Nasdaq Listing Rule 5635(c)(4).\n\n \n \n\n \nThe options have an exercise price per share equal to $8.41, which was the closing price of the Company's common stock on the Nasdaq Stock Market on January 30, 2020. The time-based option vests over a three year period and is subject to a one year cliff beginning on January 30, 2020, subject to Mr. Anderson's continued employment by the Company on the applicable vesting date. The performance-based option vests in twelve equal quarterly installments over a three year period commencing on the first day of the relevant following fiscal year, upon the Company's attainment for each fiscal year ending December 31, 2020 through December 31, 2023, of specified business to business revenues recognized by the Company in the United States, subject in each case to Mr. Anderson's continued employment by the Company on the applicable vesting date.\nAbout DarioHealth Corp.\nDarioHealth Corp. (Nasdaq: DRIO) is a leading, global digital therapeutics company revolutionizing the way people with chronic conditions manage their health. By delivering evidence-based interventions that are driven by data, high-quality software and coaching, we empower individuals to make healthy adjustments to their daily lifestyle choices to improve their overall health. Our cross-functional team operates at the intersection of life sciences, behavioral science and software technology to deliver highly engaging therapeutic interventions. Dario is one of the highest-rated diabetes solutions in the mar...