Shapeways Holdings, Inc. Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
NEW YORK, Sept. 20, 2023 (GLOBE NEWSWIRE) -- Shapeways Holdings, Inc. (Nasdaq: SHPW) (“Shapeways” or the “Company”), a leader in the large and fast-growing digital manufacturing industry, today announced that on September 20, 2023 (the “Date of Grant”), the Company granted inducement stock options covering an aggregate of 30,625 shares of Shapeways’ common stock to 10 newly hired non-executive employees.
The awards were granted under the Company’s 2022 New Employee Equity Incentive Plan (the “Inducement Plan”), and provides for the granting of equity awards to new employees of Shapeways by the Company’s compensation committee in accordance with Nasdaq Listing Rule 5635(c)(4). Each of the stock options granted as referenced in this press release has an exercise price of $3.26, the closing price of Shapeways’s common stock on the date prior to the Date of Grant. Each stock option vests over a four-year period, with one-fourth of the shares vesting on the first anniversary of the employee’s start date (referred to as the “First Vesting Date”), and the remaining shares vesting in thirty-six monthly installments of 1/48th of the total stock option shares over the next three years, commencing with the first month following the First Vesting Date, subject to continued employment with the Company through the applicable vesting dates.
Shapeways is a leader in the large and fast-growing digital manufacturing industry combining high quality, flexible on-demand manufacturing powered by purpose-built proprietary software which enables customers to rapidly transform digital designs into physical products, globally. Shapeways makes industrial-grade additive manufacturing accessible by fully digitizing the end-to-end manufacturing process, and by providing a broad range of solutions utilizing 11 additive manufacturing technologies and approximately 100 materials and finishes, with the ability to easily scale new innovation. To date, Shapeways has delivered over 23 million parts to 1 million customers in over 180 countries. To learn more, please visit https://www.shapeways.com.
Released September 20, 2023