CHF Solutions, Inc. Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
CHF Solutions, Inc. (NASDAQ: CHFS) announced the approval of six equity awards under its New-Hire Equity Incentive Plan as of May 20, 2020. This decision complies with NASDAQ Listing Rule 5635(c)(4). The equity awards were granted to six new employees, who received options to purchase a total of 27,000 shares at an exercise price of $0.35 per share, matching CHF Solutions' closing stock price on the grant date. The options have a ten-year term and vest over four years.
- Approval of six equity awards for new hires enhances talent acquisition.
- Options granted at $0.35 per share align with market price, signaling fair value.
- None.
EDEN PRAIRIE, Minn., May 22, 2020 (GLOBE NEWSWIRE) -- 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
About CHF Solutions
CHF 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 MEDIA: Jessica Stebing Health+Commerce 260-336-6202
FAQ
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