Apollo Endosurgery Announces Inducement Grant

Apollo Endosurgery, Inc. ("Apollo") (NASDAQ:APEN), a global leader in minimally invasive medical devices for and bariatric procedures, announced the terms of equity awards granted to Chas McKhann in connection with his appointment as the company's CEO in March 2021. The company's board of directors granted Chas a stock option to purchase an aggregate of 848,733 shares of common stock, at a per share exercise price of $5.95, and a performance-based restricted stock unit award for 707,278 shares of common stock. One-fourth of the stock option vests in March 2022, and the balance of the option vests in a series of thirty-six successive equal monthly installments thereafter. The restricted stock units vest upon the achievement of certain revenue milestones. The stock option and restricted stock unit award are subject to the terms and conditions of the company's 2017 equity incentive plan but were granted outside the plan in accordance with Nasdaq Listing Rule 5635(c)(4).