EDEN PRAIRIE, Minn., Aug. 17, 2018 (GLOBE NEWSWIRE) -- CHF Solutions, Inc. (NASDAQ: CHFS), today announced that on August 15,
2018, the independent directors approved seven equity awards under CHF Solution’s New-Hire Equity Incentive Plan, as material
inducements to seven 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 seven individuals, who were not previously employees or
directors of CHF Solutions, received options to purchase an aggregate of 169,440 shares of the Company’s common stock. The option
awards have an exercise price of $1.00 per share, the closing price of CHF Solution’s common stock on August 15, 2018, 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.
For further information, please contact:
Claudia Napal Drayton
Chief Financial Officer
CHF Solutions, Inc.
1-952-345-4205
Investor Relations
CHF Solutions, Inc.
ir@chf-solutions.com
-or-
Bret Shapiro
Managing Partner
CORE IR
516-222-2560
brets@coreir.com
www.coreir.com
