Current Report Filing (8-k)
April 27 2020 - 4:31PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported): April 21, 2020
InspireMD,
Inc.
(Exact
name of registrant as specified in its charter)
Delaware
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001-35731
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26-2123838
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(State
or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS
Employer
Identification No.)
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4
Menorat Hamaor St.
Tel
Aviv, Israel
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6744832
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(Address
of principal executive offices)
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(Zip
Code)
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(888)
776-6804
(Registrant’s
telephone number, including area code)
N/A
(Former
Name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
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Trading
Symbol(s)
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Name
of exchange on which registered
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Common
Stock, par value $0.0001 per share
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NSPR
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NYSE
American
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Warrants,
exercisable for one share of
Common Stock
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NSPR.WS
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NYSE
American
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Series
B Warrants, exercisable for one share of Common Stock
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NSPR.WSB
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NYSE
American
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company [ ]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item 5.02 Departure of Directors or
Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
In response to significant
market volatility and uncertainties relating to the global COVID-19 pandemic, the board of directors (the “Board”)
and the management of InspireMD, Inc. (the “Company”) have taken the following voluntary reductions of compensation
as a measure of fiscal responsibility.
Non-employee Director Compensation
Effective April 1, 2020,
the Board approved a 50% decrease in the annual cash compensation for non-employee directors from an aggregate amount of
$154,000 to $77,000.
Decrease
in Executive Officer Compensation
On
April 21, 2020, Marvin Slosman, the Company’s President, Chief Executive Officer and Director, signed a waiver reducing
his annual base salary from $400,000 to $200,000 for the period beginning April 1, 2020 and ending on the date Mr. Slosman shall
determine.
In
addition, on April 21, 2020, Craig Shore, the Company’s Chief Financial Officer, Chief Administrative Officer, Secretary
and Treasurer, signed a waiver reducing his annual base salary from 80,125 NIS to 40,063 NIS for the period beginning April 1,
2020 and ending on the date Mr. Shore shall determine.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
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InspireMD,
Inc.
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Date:
April 27, 2020
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By:
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/s/
Craig Shore
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Name:
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Craig
Shore
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Title:
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Chief
Financial Officer
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