OMAHA, NE—Precipio, Inc. (NASDAQ:PRPO), a company specializing in laboratory analytical instruments, has awarded stock options to its top executives as part of its annual long-term incentive plan, according to a recent SEC filing. The grants were issued on Monday, January 14, 2025, under the company’s Amended & Restated Stock Option and Incentive Plan.
The options, totaling 34,000, were granted to four officers, including CEO Ilan Danieli, with a performance-based vesting condition. These options will vest only if the company’s common stock achieves a 10-day volume-weighted average price that is five times the exercise price of $6.06, which is set at $30.30. This condition emphasizes the company’s focus on substantial stock price growth.
If the stock does not reach the specified price threshold, the options will not vest, aligning the potential compensation of the executives closely with shareholder interests. The options have an expiration date of January 14, 2035, providing a long-term horizon for the performance goal.
The distribution of options is as follows: CEO Ilan Danieli received 8,000 options, Ayman Mohamed and Ahmed Zaki Sabet each were granted 6,000 options, and Matthew Gage was awarded 4,000 options.
In other recent news, Precipio Inc. has reported robust growth in its third-quarter earnings for 2024. The diagnostic services provider is nearing breakeven, with revenues from the pathology division surpassing the breakeven point for the second consecutive quarter at $4.5 million, a growth of 18% from the previous quarter. The products division also saw a revenue increase, reaching $680,000 for Q3, a 13% rise. These recent developments are accompanied by a significant reduction in cash burn, down by 75% compared to the same period in 2023.
Precipio aims to maintain this positive momentum, with a strong emphasis on avoiding shareholder dilution and sustaining financial independence. The company’s growth strategy includes enhancing investor education and visibility, leveraging distribution channels to increase revenue share, and focusing on the products division as a primary growth engine due to its higher margins and recurring revenue.
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