Vapotherm Inc (VAPO) just unveiled an update.
Vapotherm, Inc. has implemented a strategic move to reprice stock options, reducing the exercise price to $0.915 per share, aligning with the stock’s closing price on February 27, 2024. This decision, endorsed by the Board and Compensation Committee, aims to retain and incentivize key personnel without additional equity grants or diminishing cash reserves. The repricing affects various employee stock options but excludes non-employee Board members, with all original terms remaining except for the adjusted exercise price. The move follows an amendment to the 2018 Equity Incentive Plan, which also expanded the available shares for awards and accounted for a recent reverse stock split.
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