WALTHAM, Mass.–(BUSINESS WIRE)–NeuroMetrix, Inc. (Nasdaq: NURO), a health care company transforming patient care through neurotechnology, today announced that the Compensation Committee of NeuroMetrix’s Board of Directors granted of an inducement stock option to purchase up to 100,000 shares of common stock to Walter Christensen, its newly appointed Senior Vice President, Global Sales, on May 4, 2009.
The stock option is a non-qualified stock option and has an exercise price per share equal to $1.73, the fair market value of the underlying shares as of the grant date. The option vests as to 25% of the underlying shares on the first anniversary of the grant date and as to 1/16 of the underlying shares quarterly thereafter, so as to be 100% vested on the fourth anniversary of the grant date, subject to Mr. Christensen’s continued service to NeuroMetrix. The stock option has a maximum term of ten (10) years.
The stock option was granted as an inducement material to Mr. Christensen’s entering into employment with NeuroMetrix in accordance with NASDAQ Listing Rule 5635(c)(4).