DarioHealth Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
Jan 31, 2020
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).
The 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.
About DarioHealth Corp.
DarioHealth 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 market, and its user-centric MyDario™ mobile app is loved by tens of thousands of consumers around the globe. DarioHealth is rapidly moving into new chronic conditions and geographic markets, using a performance-based approach to improve the health of users managing chronic disease. To learn more about DarioHealth and its digital health solutions, please go to: http://mydario.com/.
Cautionary Note Regarding Forward-Looking Statements:
This news release and the statements of representatives and partners of DarioHealth Corp. related thereto contain or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect the Company's results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. Additional factors that could cause or contribute to differences between the Company's actual results and forward-looking statements include, but are not limited to, those risks discussed in the Company's filings with the U.S. Securities and Exchange Commission. Readers are cautioned that actual results (including, without limitation, the timing for and results of the Company's commercial and regulatory plans for Dario as described herein) may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
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SOURCE DarioHealth Corp.