GERMANTOWN, MD — Medical technology company Senseonics Holdings Inc.’s chief executive officer saw an 84 percent increase in total compensation in the company’s 2016 fiscal year due to an increase in base salary, stock awards and annual bonus, according to the company’s proxy statement filed with the Securities and Exchange Commission.

Timothy T. Goodnow’s compensation totaled $1.38 million, up from $750,213 in the company’s 2015 fiscal year. Goodnow’s base salary rose from $365,791 in 2015 to $475,998.senseonics-holdings-inc-logo

Goodnow was awarded $586,871 in stock options, more than double his previous award of $231,704. He also received a bonus of $318,150.

R. Don Elsey, the company’s chief financial officer, received total compensation of $981,200 during the 2016 fiscal year. This includes a base salary of $355,625 and $472,275 in stock awards.

Chief medical officer Lynne E. Kelley received $1,064,645 in total compensation for the 2016 fiscal year. Kelley assumed the position of chief medical officer in January 2016 and received a base salary of $365,000.

Senseonics is a medical technology company focused on the design, development and commercialization of glucose monitoring products for people with diabetes.

Company revenue for the year was $300,000, compared to no revenue in 2015. Due to clinical trial costs, research and development expenses increased to $26.3 million, compared to $18.3 million for 2015.

Senseonics’ stockholders meeting will be held on Wednesday, May 24, at 9 a.m., at the Courtyard Marriott Gaithersburg Washington Center in Gaithersburg.

The company’s shares were down 2 cents to $1.66 in Monday afternoon trading.

This story is from the Maryland Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism