InspireMD, Inc. Appoints Patrick Jamnik as Vice President of Business Development and Strategic Initiatives and Reports Inducement Grants Under NYSE American Company Guide §711(a)

TEL AVIV, Israel, Oct. 06, 2020 (GLOBE NEWSWIRE) -- InspireMD, Inc. (NYSE American: NSPR) (“Company”), the developer of the CGuard Embolic Prevention System (EPS) for the prevention of stroke caused by carotid artery disease (CAD), today announced the appointment of Patrick Jamnik as vice president, business development and strategic initiatives. In this newly created position, Mr. Jamnik will oversee the Company’s business development activities and play a key role in advancing its short and long-term strategic goals, with much of his focus being the U.S. market.

“At different times throughout my career, I have been fortunate to see the powerful impact created when pioneering technology encounters genuine unmet clinical needs. CGuard EPS presents the opportunity to create such an impact on the advancement of carotid artery stenting,” said Mr. Jamnik. “I am thrilled to be joining InspireMD at such an important and exciting time.”

Mr. Jamnik brings with him more than 15 years of global market development experience in broad-based roles with both large and emerging medical technology companies. Prior to joining InspireMD, he served in a commercial leadership role for Stryker Corp. Before that, he served as director of global marketing at Stanmore Implants Worldwide and played a central role in establishing its U.S. business, contributing to its eventual acquisition by Stryker. Mr. Jamnik received both a BA and MBA from The University of Wisconsin-Madison.

“We welcome Patrick to the executive leadership team and look forward to his leadership in advancing our growth through market and portfolio expansion along with strategic initiatives to build on the success of our CGuard EPS and Micronet platform. As we gain traction and leverage the superior clinical results of our stent platform, we will continue to develop new strategic pathways for growth,” said Marvin L. Slosman, chief executive officer of InspireMD.

InspireMD also today announced that the Company has granted Patrick Jamnik, the Company’s new vice president of business development, 162,920 shares of restricted stock and options to purchase 54,307 shares of the Company’s common stock as inducement awards outside the Company’s 2013 Long-Term Incentive Plan. The grant was approved by the Compensation Committee and was made as an inducement material to the employee entering into employment. The grant was made in reliance on the employment inducement exception to shareholder approval provided under the NYSE American Company Guide, Section 711(a), which requires public announcement of inducement awards.