Endologix Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
The inducement grants to the Awardees consist of options (“Options”) to purchase shares of the Company’s common stock, par value
One-third (33%) of the shares subject to the Options will vest on the first anniversary of the grant date, with the remaining shares vesting in 24 equal, consecutive, monthly installments as measured from the first anniversary of the grant date. The RSUs will vest upon satisfaction of certain (i) performance milestones to be determined by the Company, and (ii) tenure requirements.
The Company develops and manufactures minimally invasive treatments for aortic disorders. The Company's focus is in endovascular stent grafts for the treatment of abdominal aortic aneurysms (AAA). AAA is a weakening of the wall of the aorta, the largest artery in the body, resulting in a balloon-like enlargement. Once an AAA develops, it continues to enlarge and, if left untreated, becomes increasingly susceptible to rupture. The overall patient mortality rate for ruptured AAA is approximately 80%, making it a leading cause of death in the U.S. For more information, visit www.endologix.com.
Vaseem Mahboob, CFO