InspireMD Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)

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[{"type":"text","content":"TEL AVIV, Israel and MIAMI, May 18, 2023 (GLOBE NEWSWIRE) -- InspireMD, Inc. (Nasdaq: NSPR), developer of the CGuard™ Embolic Prevention Stent System (EPS) for the prevention of stroke, today announced that, in connection with the appointment of Shane Gleason as General Manager of North America and VP of Global Marketing in February 2023, InspireMD granted Mr. Gleason 256,450 shares of restricted stock and stock options to purchase 85,480 shares of InspireMD’s common stock. The grant of restricted stock and stock options was approved by the Compensation Committee of InspireMD’s Board of Directors and was granted outside of InspireMD’s 2021 Equity Compensation Plan, with a grant date of May 17, 2023, as an inducement material to Mr. Gleason entering into employment with InspireMD, in accordance with Nasdaq Listing Rule 5635(c)(4). The restricted stock and stock options vest over three years, with one-third vesting on the first anniversary of the grant and the remainder vesting in two equal installments on the second and third anniversaries of the grant date, subject to Mr. Gleason being continuously employed by InspireMD as of such vesting dates. The stock options have a ten-year term and an exercise price of $1.76, the closing sales price of InspireMD’s common stock on the grant date. InspireMD is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4). About InspireMD, Inc.InspireMD seeks to utilize its proprietary MicroNet® technology to make its products the industry standard for carotid stenting by providing outstanding acute results and durable, stroke-free, long-term outcomes. InspireMD’s common stock is quoted on the Nasdaq under the ticker symbol NSPR. We routinely post information that may be important to investors on our website. For more information, please visit www.inspiremd.com. Forward-looking StatementsThis press release contains “forward-looking statements.” Forward-looking statements include, but are not limited statements related to the private placement, the expected gross proceeds, the expected use of proceeds and the expected closing date. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential”, “scheduled” or similar words. Forward-looking statements are not g...

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