CHF Solutions, Inc. Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
March 01 2019 - 8:30AM
CHF Solutions, Inc. (NASDAQ: CHFS), today announced that effective
February 25, 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 1,997 shares of the Company’s common stock. The option
awards have an exercise price of $8.93 per share, the closing price
of CHF Solution’s common stock on February 25, 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.com
MEDIA Jules Abraham JQA Partners, Inc.
917-885-7378 jabraham@jqapartners.com
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