Form 4: Vivani Medical Director Daniel Bradbury Granted Stock Options

Daniel Bradbury, a director at Vivani Medical, was granted 22,869 non-qualified stock options on March 25, 2024, vesting monthly over three years.

Summary

• Daniel Bradbury, a director of Vivani Medical, Inc., was granted 22,869 non-qualified stock options on March 25, 2024.
• The options have a 10-year term and vest monthly in equal installments over three years.
• The exercise price of the options is $1.92.
• This Form 4 filing also includes an inadvertently omitted Power of Attorney from a previous filing on March 11, 2024, granting Adam Mendelsohn, Judy Wong, and Brigid Makes the authority to execute SEC filings on Bradbury's behalf.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The granting of stock options is a standard practice and generally viewed as a positive incentive for directors. The inadvertent omission of the Power of Attorney is a minor issue.

Positives

• The granting of stock options aligns the director's interests with those of the shareholders.

Future Outlook

There is no specific future outlook provided in this document.

Industry Context

Stock option grants are a common practice in the pharmaceutical and biotech industries to incentivize directors and align their interests with the long-term success of the company.

Comparison to Industry Standards

• Stock option grants to directors are a standard practice in publicly traded companies, particularly in the biotech sector.
• The vesting schedule of monthly over three years is fairly typical.
• Comparable companies such as Amgen, Gilead Sciences, and Biogen also utilize stock options as part of their director compensation packages.

Stakeholder Impact

• Shareholders may view the stock option grant as a positive incentive for the director.
• The Power of Attorney ensures the company can efficiently manage SEC filings.

Key Dates