SOURCE: Hansen Medical, Inc.

Hansen Medical, Inc.

June 20, 2011 20:27 ET

Hansen Announces Employment Inducement Award

MOUNTAIN VIEW, CA--(Marketwire - Jun 20, 2011) - Hansen Medical, Inc. (NASDAQ: HNSN) today granted certain equity awards to its newly appointed chief financial officer. Peter J. Mariani, who joined the Company as its Chief Financial Officer on June 20, 2011 ("Start Date"), was granted an option to purchase 360,000 shares of the Company's common stock, of which 25% will vest 12 months after commencement of his employment and the balance of which will vest in 36 successive equal monthly installments thereafter, pursuant to a Non-Plan Option Grant Notice and Non-Plan Option Agreement (the "Inducement Award"). The Inducement Award was granted outside of the Company's 2006 Equity Incentive Plan, but will generally be subject to the same terms and conditions as apply to options granted under that plan. The Compensation Committee of the Company's Board of Directors approved the Inducement Award in reliance on the employment inducement exception to the NASDAQ rules that require shareholder approval of equity-based incentive plans and awards. The NASDAQ rules require the public announcement of such inducement awards. The Inducement Award became effective on the Start Date and will expire in 7 years. The per share exercise price for the option shares is $3.03, which was the closing sales price of the Company's Common Stock on the Start Date as reported by the NASDAQ Global Market. In connection with his appointment, the Compensation Committee of the Board of Directors also granted Mr. Mariani restricted stock units under the Company's 2006 Equity Incentive Plan, which grant is described in the Company's Current Report on Form 8-K regarding Mr. Mariani's appointment.

About Hansen Medical, Inc.

Hansen Medical, Inc., based in Mountain View, California, develops products and technology using robotics for the accurate positioning, manipulation and control of catheters and catheter-based technologies. The company's Sensei® system and its Sensei X Robotic Catheter System were cleared by the U.S. Food and Drug Administration for manipulation and control of certain mapping catheters in electrophysiology (EP) procedures. This robotic catheter system is compatible with fluoroscopy, ultrasound, 3D surface map and patient electrocardiogram data. In the United States, the Sensei System is not approved for use in guiding ablation procedures; this use remains experimental. The U.S. product labeling therefore provides that the safety and effectiveness of the Sensei and Sensei X systems for use with cardiac ablation catheters in the treatment of cardiac arrhythmias, including atrial fibrillation (AF), have not been established during EP procedures, such as guiding catheters in the treatment of AF. In the European Union, the Sensei and the Sensei X systems are cleared for use during EP procedures, such as guiding catheters in the treatment of AF, and the Lynx® Robotic Ablation Catheter is cleared for the treatment of AF. The Magellan Vascular Robotic System requires regulatory filings and approval and is not commercially available. Additional information can be found at www.hansenmedical.com.

Hansen Medical, Heart Design, Hansen Medical & Heart Design, Sensei, IntelliSense, and Fine Force Technology are registered trademarks, and Artisan, Artisan Extend, Lynx, CoHesion, and Instinctive Motion are trademarks of Hansen Medical, Inc. in the United States and other countries.

Contact Information

  • Investor Contacts:
    Peter Mariani
    650.404.5800

    News Media Contact:
    Matt Clawson
    Allen & Caron Inc.
    949.474.4300
    Email Contact