One of the stocks that experienced a marginal decline this past Friday was that of the late stage clinical firm Sesen Bio (NASDAQ:SESN). Yesterday the company announced that it granted non-statutory stock options to as many as four of its employees.
The grants were made after the employees commenced their job at the company. The announcement was not welcomed by the markets with any great enthusiasm and the Sesen stock actually declined by as much as 6%. As per the provisions of this particular grant, the employees have the option of taking up as many as 206000 shares in Sesen Bio after the vesting of the options within a period of ten years.
In this regard, it is necessary to note that this comes not long after the company had made similar grants last month. At the time, the addition of another employee to the organisation had led to the grant. Under that particular option, the employee had the option of taking up as many as 52000 shares in Sesen Bio after the vesting of the options. While the stock may have declined, it is going to be interesting to see if it can actually make a recovery in the new week.
Market Reaction:
On Friday, SESN stock was down 6% at $4.25 with more than 6.29 million shares, compared to its average volume of 6.32 million shares. The stock has moved within a range of $4.2200 – 4.5900 after opening the trade at $4.50. Over the past 52-week, the stock has been trading within a range of $0.6620 – 4.8000.
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