CHF Solutions, Inc. Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
CHF Solutions (NASDAQ: CHFS) announced on November 23, 2020, the approval of equity awards for three new hires under its New-Hire Equity Incentive Plan.
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Rhea-AI Summary
CHF Solutions (NASDAQ: CHFS) announced on November 23, 2020, the approval of equity awards for three new hires under its New-Hire Equity Incentive Plan. Effective November 16, 2020, these individuals, who were not prior employees or directors, received options to purchase a total of 1,200 shares at an exercise price of $6.06 per share. The options have a ten-year term and vest over four years, enhancing the company’s talent acquisition strategy. CHF Solutions specializes in ultrafiltration therapy for patients with fluid overload.
Positive
- Equity awards to new hires enhance talent acquisition efforts.
- Options granted at a competitive exercise price of $6.06, reflecting the stock's closing price.
Negative
- None.
Details
News Market Reaction – CHFS
The recorded move for CHFS in the trading session of this news was +4.97%.
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EDEN PRAIRIE, Minn., Nov. 23, 2020 (GLOBE NEWSWIRE) -- CHF Solutions, Inc. (NASDAQ: CHFS), today announced that, effective November 16, 2020, the independent directors approved three equity awards under CHF Solution’s New-Hire Equity Incentive Plan, as material inducements to three 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 three individuals, who were not previously employees or directors of CHF Solutions, received options to purchase an aggregate of 1,200 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.
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