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Sunshine Heart Reports Inducement Grant

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    122 Posts.

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    0 EDEN PRAIRIE, Minn., Feb. 12, 2015 (GLOBE NEWSWIRE) -- Sunshine Heart, Inc. (Nasdaq:SSH), today announced that on February 11, 2015, the Compensation Committee of its Board of Directors, which is composed entirely of independent directors, approved one equity award under Sunshine Heart's New-Hire Equity Incentive Plan, as a material inducement to one individual entering into employment with the Company. The equity award was 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 his entering into employment with Sunshine Heart, Don Villalta, who was not previously an employee or director of Sunshine Heart, received an option to purchase 5,000 shares of the Company's common stock. The option has an exercise price of $5.36 per share, which is equal to the closing price of the Company's common stock on February 11, 2015. The option has a ten-year term and vests 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 thereafter, provided Mr. Villalta'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 option agreement.

    http://www.pubfacts.com/author/Don Villalta

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