Form 4: Vivos Therapeutics Director Leonard J. Sokolow Receives Stock Option Grant

Director Leonard J. Sokolow of Vivos Therapeutics, Inc. received a grant of 4,000 stock options on June 20, 2024.

Summary

• On June 20, 2024, Leonard J. Sokolow, a director of Vivos Therapeutics, Inc., was granted 4,000 stock options.
• The exercise price of these options is $2.38.
• One-half of the options vested immediately, one-fourth will vest on September 30, 2024, and the remaining one-fourth will vest on December 31, 2024.
• The options expire on June 20, 2029.
• Following the transaction, Sokolow directly owns 7,467 derivative securities.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine disclosure of stock option grants, which is a standard practice for director compensation. It doesn't inherently indicate positive or negative performance.

Positives

• The grant of stock options to a director aligns their interests with those of the shareholders.
• The vesting schedule incentivizes continued service and contribution to the company's success.

Industry Context

Stock option grants are a common form of executive compensation in the biotechnology and healthcare industries, aligning management's interests with shareholder value.

Comparison to Industry Standards

• Stock option grants are a standard component of compensation packages for directors in publicly traded companies, particularly in growth-oriented sectors like biotechnology.
• The size of the grant (4,000 options) and the vesting schedule (one-half immediately, one-fourth on September 30, 2024, and one-fourth on December 31, 2024) are typical for director compensation in similar-sized companies.
• Comparable companies in the medical device or therapeutics space often use similar equity-based compensation to incentivize directors and align their interests with long-term shareholder value creation.

Stakeholder Impact

• The stock option grant could potentially incentivize the director to work towards increasing shareholder value.
• The grant has a dilutive effect on existing shareholders, although the impact is likely minimal given the relatively small number of options granted.

Key Dates