CHF Solutions, Inc. Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
May 22 2020 - 4:35PM
CHF Solutions, Inc. (NASDAQ: CHFS), today announced that, on May
20, 2020, the independent directors approved six equity awards
under CHF Solution’s New-Hire Equity Incentive Plan, as material
inducements to six 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 six individuals, who were not previously employees or directors
of CHF Solutions, received options to purchase an aggregate of
27,000 shares of the Company’s common stock. The option awards have
an exercise price of $0.35 per share, the closing price of CHF
Solution’s common stock on May 20, 2020, 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 SolutionsCHF Solutions, Inc.
(Nasdaq:CHFS) is a medical device company dedicated to changing the
lives of patients suffering from fluid overload through science,
collaboration, and innovation. The company is focused on
developing, manufacturing, and commercializing the Aquadex
SmartFlow™ system for ultrafiltration therapy. 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.
About the Aquadex SmartFlow System The Aquadex
SmartFlow system delivers clinically proven therapy using a simple,
flexible and smart method of removing excess fluid from patients
suffering from hypervolemia (fluid overload). The Aquadex SmartFlow
system is indicated for temporary (up to 8 hours) or extended
(longer than 8 hours in patients who require hospitalization) use
in adult and pediatric patients weighing 20 kg or more whose fluid
overload is unresponsive to medical management, including
diuretics. All treatments must be administered by a health care
provider, within an outpatient or inpatient clinical setting, under
physician prescription, both having received training in
extracorporeal therapies.
CONTACTS
INVESTORS:
Claudia Napal Drayton
Chief Financial Officer, CHF Solutions, Inc.
952-345-4205
ir@chf-solutions.com
MEDIA:
Jessica Stebing
Health+Commerce
260-336-6202
jstebing@healthandcommerce.com
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