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NSPR > SEC Filings for NSPR > Form 8-K on 4-Feb-2014All Recent SEC Filings

Show all filings for INSPIREMD, INC.

Form 8-K for INSPIREMD, INC.


4-Feb-2014

Change in Directors or Principal Officers


Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 29, 2014, the compensation committee of the board of directors of InspireMD, Inc. (the "Company") announced bonuses for the Company's named executive officers for the 2013 calendar year, as well as other bonuses for extraordinary contributions to the Company. The Company paid to Alan Milinazzo, its president and chief executive officer, a bonus of $275,000 for the 2013 calendar year and granted him 86,235 shares of restricted common stock of the Company and an option to purchase 86,235 shares of common stock, at an exercise price of $3.10 per share. On January 31, 2014, Mr. Milinazzo also received a 2014 annual equity grant consisting of 96,400 shares of restricted common stock of the Company and an option to purchase 313,350 shares of common stock, at an exercise price of $2.97 per share. Each grant vests in three equal annual installments, with one-third vesting on the first, second and third anniversaries of the date of grant, subject to Mr. Milinazzo's continued service with the Company.

In addition, the Company paid to Craig Shore, its chief financial officer, chief administrative officer, secretary and treasurer, a bonus of $50,137 for the 2013 calendar year and granted him 77,000 shares of restricted common stock of the Company and an option to purchase 77,000 shares of common stock, at an exercise price of $3.10 per share. On January 31, 2014, Mr. Shore also received a 2014 annual equity grant consisting of 29,735 shares of restricted common stock of the Company and an option to purchase 96,670 shares of common stock, at an exercise price of $2.97 per share. Each grant vests in three equal annual installments, with one-third vesting on the first, second and third anniversaries of the date of grant, subject to Mr. Shore's continued service with the Company. In addition, retroactive to January 1, 2014, Mr. Shore's 2014 annual base salary was increased to $220,200.

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