Dario Appoints New Senior Vice President Of Growth

Dario Appoints New Senior Vice President Of Growth

DarioHealth Corp. (NASDAQ: DRIO) (the “Company”), a leader in the global digital therapeutics (DTx) market, announced today the hire of seasoned industry sales leader Matt Alberico as Senior Vice President of Growth to help the Company capitalize on its rapidly growing opportunities across multiple market segments.

Mr. Alberico joins Dario after leading national channel sales and partnerships for Amazon Care. In prior roles, he held sales and account management leadership roles for both Cigna and Aetna. In his new role at Dario, Matt brings valuable sales strategy experience in rapid-growth environments and a deep understanding of the market landscape and buyer needs.

“Matt brings the skills necessary to help Dario capitalize on the strong demand in the market and the deep network connections to accelerate the growth of our leading multi-chronic digital health solution. I’m excited for Matt to join at this juncture in our growth, as we recently signed our 100th contract and the market demand for integrated solutions continues to grow. His experience will be extremely valuable to position Dario for long-term success,” said Rick Anderson, President, Dario.

“I’m thrilled to join Dario and help scale our sales efforts and exceed goals for growth as we secure our leadership position in the market. Dario’s multi-chronic solution is answering the great demand for more integrated, more personalized solutions, and I look forward to working with the team to help drive momentum and growth in our business across all of our channels,” said Matt Alberico, SVP Growth, Dario.

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In addition, Dario announced that on January 23, 2023, Mr. Alberico was granted a non-qualified stock option award to purchase 100,000 shares of the Company’s common stock, as well as an additional non-qualified performance-based stock option award to purchase an additional 100,000 shares of the Company’s common stock, pursuant to Nasdaq Listing Rule 5635(c)(4) outside of the Company’s existing equity compensation plans. These options were granted as an inducement material to Mr. Alberico becoming an employee of the Company, in accordance with Nasdaq Listing Rule 5635(c)(4).

The options have an exercise price per share equal to $5.97, which was the closing price of the Company’s common stock on the Nasdaq Stock Market on January 23, 2023. The time-based option vests over a three year period and is subject to a one year cliff beginning on January 23, 2023, subject to his continued employment by the Company on the applicable vesting date. The performance-based option vests in two equal installments upon the Company’s attainment for each fiscal year ending December 31, 2023 through December 31, 2024, of specified business to business revenues recognized by the Company, subject in each case to his continued employment by the Company on the applicable vesting date.

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