Conformis Announces Farzin Khaghani as VP, US Marketing; Inducement Grants Reported

BILLERICA, Mass., Aug. 13, 2020 (GLOBE NEWSWIRE) -- Conformis, Inc. (NASDAQ:CFMS) announced today that the Company has appointed Farzin Khaghani as its new VP, US Marketing.

“We are very pleased to announce that Farzin Khaghani has rejoined our team as VP, US Marketing. Farzin’s product expertise and track record of successfully supporting strategic goals and attracting new surgeon users to the Conformis family will help us continue our successful market expansion,” said Mark Augusti, President and Chief Executive Officer.  “I look forward to the contributions Farzin will make as a member of Conformis’ team.”

Farzin Khaghani

Farzin Khaghani is an executive with more than 20 years of experience in orthopedic sales and marketing, medical device, and information technology industries and has a track record of developing, mentoring, and motivating a cohesive team with a clear and focused understanding of goals and success. 

Most recently, Farzin served as President of NextStep Arthropedix.  Immediately prior to NextStep Arthropedix, Mr. Khaghani spent over 10 years at Conformis where he progressed from Senior Director, Product Management, to Area Vice President, East. 

Before his initial employment at Conformis, Mr. Khaghani served as Product Director at DePuy Spine and Johnson & Johnson for 5 years where he managed a key line and new product launches, developed marketing strategies, and worked with various promotional agencies on product branding and literature.  Prior to that, he served as Director of Operations of Win Enterprises for 3 years.  Before Win Enterprises, he served in engineering and operations management positions in the medical and high-tech fields. 

Mr. Khaghani earned an MBA degree at Suffolk University, an MS degree in Mechanical Engineering at Boston University, and BS degrees in Biology and Mathematics at Cornell University.

Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

In connection with the hiring of Mr. Khaghani, the Compensation Committee of Conformis' Board of Directors granted to Mr. Khaghani a stock option to purchase 100,000 shares of Conformis' common stock and a restricted stock unit award of 100,000 shares of Conformis' common stock.  The option and the restricted stock unit award were granted on August 10, 2020 as inducements material to Mr. Khaghani’s acceptance of employment with Conformis in accordance with Nasdaq Listing Rule 5635(c)(4).  The option award has an exercise price of $0.7427 and vests over three years, with 25% of the total number of shares underlying the option vesting on the first anniversary of the grant date and an additional 1/48 of the total number of shares underlying the stock option vesting monthly thereafter, subject to Mr. Khaghani’s continued service as an employee of Conformis through the applicable vesting dates.  The restricted stock unit award vests over four years, with 25% of the total number of shares underlying the award vesting on each one-year anniversary of the grant date, subject to Mr. Khaghani’s continued service as an employee of Conformis through the applicable vesting dates.