Market Overview

Endologix Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Share:

Endologix, Inc. (NASDAQ:ELGX) (the "Company"), a developer and marketer
of innovative treatments for aortic disorders, today announced the grant
of inducement equity awards to three newly appointed executives
(together, the "Awardees"). The awards were approved by the Company's
Compensation Committee, which is comprised of independent Directors,
on August 7, 2018, as an inducement material to the Awardees' entry into
employment with the Company, as permitted under NASDAQ Listing Rule
5635(c)(4).

The inducement grants to the Awardees consisted of (i) options (the
"Options") to purchase up to an aggregate of 538,243 shares of the
Company's common stock, par value $0.001 per share ("Common Stock"), at
an exercise price of (A) $2.74 per share with respect to 381,601 shares
of Common Stock underlying the Options, and (B) $2.54 per share with
respect to 156,642 shares of Common Stock underlying the Options, and
(ii) 185,357 restricted stock units (the "RSUs"). The dates of grant for
the awards were August 13, 2018, with respect to two of the Awardees,
and August 20, 2018 with respect to the third Awardee. The exercise
prices of the Options are equal to the closing price per share of Common
Stock as reported by NASDAQ on August 13, 2018 and August 20, 2018,
respectively.

One-third (33%) of the shares subject to the Options shall vest on the
first anniversary of the respective grant dates, with the remaining
shares vesting in twenty-four (24) equal, consecutive, monthly
installments as measured from the first anniversary of the respective
grant dates. The RSUs shall vest in three equal, consecutive, annual
installments as measured from the respective grant dates.

About Endologix

Endologix, Inc. develops, manufactures, markets and sells innovative
medical devices for the treatment of aortic disorders. The Company's
products are intended for the minimally invasive endovascular treatment
of abdominal aortic aneurysms (AAA). AAA occurs when a portion of the
abdominal aorta bulges into an aneurysm because of a weakening of the
vessel wall, which may result in life threatening internal bleeding upon
rupture. The overall patient mortality rate for ruptured AAA is
approximately 80%, making it among the leading causes of death in
the United States. For more information, visit www.endologix.com.

View Comments and Join the Discussion!