CHF Solutions, Inc. Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
May 29 2019 - 4:30PM
CHF Solutions, Inc. (NASDAQ: CHFS), today announced that, on May
23, 2019, the independent directors approved five equity awards
under CHF Solution’s New-Hire Equity Incentive Plan, as material
inducements to five individuals entering into employment with the
Company. The equity awards were approved in accordance with
NASDAQ Listing Rule 5635(c)(4), which also requires a public
announcement of equity awards that are not made under a stockholder
approved equity plan.
In connection with entering into employment with CHF Solutions,
the five individuals, who were not previously employees or
directors of CHF Solutions, received options to purchase an
aggregate of 96,489 shares of the Company’s common stock. The
option awards have an exercise price of $3.42 per share, the
closing price of CHF Solution’s common stock on May 23, 2019, the
date of the grant. The options have ten-year terms and vest
over a period of four years, with 25% vesting one year after the
date of grant and the remaining 75% vesting in 36 approximately
equal monthly increments, provided the new hire’s employment is
continuing on each such date, and subject to acceleration or
forfeiture upon the occurrence of certain events as set forth in
the new hire’s option agreement.
About CHF Solutions
CHF Solutions, Inc. (Nasdaq:CHFS) is a medical device
company focused on commercializing the Aquadex FlexFlow® system for
aquapheresis therapy. The Aquadex FlexFlow system is indicated for
temporary (up to eight hours) ultrafiltration treatment of patients
with fluid overload who have failed diuretic therapy, and extended
(longer than 8 hours) ultrafiltration treatment of patients with
fluid overload who have failed diuretic therapy and require
hospitalization. All treatments must be administered by a
healthcare provider, under physician prescription, both of whom
having received training in extracorporeal therapies. The company's
objective is to improve the quality of life for patients with heart
failure and related conditions. CHF Solutions is a Delaware
corporation headquartered in Minneapolis, Minnesota with wholly
owned subsidiaries in Australia and Ireland. The company has been
listed on the NASDAQ Capital Market since February 2012.
CONTACTS:
INVESTORS: Claudia Napal Drayton Chief
Financial Officer CHF Solutions, Inc. 952-345-4205
ir@chf-solutions.com-or- Bret Shapiro Managing Partner CORE IR
516-222-2560 brets@coreir.com www.coreir.comMEDIA
Jules Abraham JQA Partners, Inc. 917-885-7378
jabraham@jqapartners.com
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