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Hansen Announces Employment Inducement Award

^{Published on 2010-06-01 14:30:13 - Market Wire}
 

MOUNTAIN VIEW, CA--(Marketwire - June 1, 2010) - Hansen Medical, Inc. (NASDAQ: [ HNSN ]) today reported certain equity awards to its newly appointed chief executive officer of the Company. Bruce J. Barclay, who is expected to join the Company as its President and Chief Executive Officer on June 9, 2010 ("Start Date"), was granted an option to purchase 1,700,000 shares of the Company's common stock, one-eighth of which will vest 6 months after commencement of his employment and the balance of which will vest in 42 successive equal monthly installments thereafter, pursuant to a Non-Plan Option Grant Notice and Non-Plan Option Agreement (the "Inducement Award"). The Inducement Award was granted outside of the Company's 2006 Equity Incentive Plan, but will generally be subject to the same terms and conditions as apply to options granted under that plan. The Company's Board of Directors (including a majority of the Company's Independent Directors) approved the Inducement Award in reliance on the employment inducement exception to the NASDAQ rules that require shareholder approval of equity-based incentive plans and awards. The NASDAQ rules require the public announcement of such inducement awards. The Inducement Award will become effective on the Start Date and expire in 7 years. The per share exercise price for the option shares shall be the closing sales price of the Company's Common Stock on the Start Date as reported by the NASDAQ Global Market. In connection with his appointment, the Board of Directors also granted Mr. Barclay options and restricted stock units under the Company's 2006 Equity Incentive Plan, which grants are described in the Company's Current Report on Form 8-K regarding Mr. Barclay's appointment.

About Hansen Medical, Inc.

Hansen Medical, Inc., based in Mountain View, Calif., develops products and technology using robotics for the accurate positioning, manipulation and control of catheters and catheter-based technologies. Its first product, the Sensei® Robotic Catheter system, is a robotic navigation system that enables clinicians to place mapping catheters in hard-to-reach anatomical locations within the heart easily, accurately and with stability during complex cardiac arrhythmia procedures. The Sensei system is compatible with fluoroscopy, ultrasound, 3D surface map and patient electrocardiogram data and was cleared by the U.S. Food and Drug Administration (FDA) in May 2007 for manipulation and control of certain mapping catheters in Electrophysiology (EP) procedures. The safety and effectiveness of the Sensei system for use with cardiac ablation catheters in the treatment of cardiac arrhythmias, including atrial fibrillation (AF), have not been established. In the European Union, the Sensei system is cleared for use during EP procedures, such as guiding catheters in the treatment of AF. Additional information can be found at [ www.hansenmedical.com ].

Hansen Medical, Heart Design, Hansen Medical & Heart Design, Sensei, IntelliSense, and Fine Force Technology are registered trademarks, and Artisan, Artisan Extend, Lynx, CoHesion, and Instinctive Motion are trademarks of Hansen Medical, Inc. in the United States and other countries.