In November 2016, each of Kevin Kenny, Chief Operating Officer of Cardiovascular Systems, Inc. (the “Company”), Laurence Betterley, Chief Financial Officer of the Company, and Alexander Rosenstein, General Counsel and Corporate Secretary of the Company, adopted a pre-arranged trading plan to sell shares of the Company’s common stock (the “Kenny Trading Plan,” the “Betterley Trading Plan,” and the “Rosenstein Trading Plan,” respectively, and, collectively, the “Plans”). The Plans were designed to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, and the Company’s policies regarding stock transactions.

Each of the Plans allows for the sale of an indeterminate number of shares of common stock to cover the required withholding taxes and transaction costs associated with the vesting of shares of restricted stock. The Kenny Trading Plan also provides that Mr. Kenny may sell up to 23,679 vested shares of common stock.

Sales to the Kenny Trading Plan are expected to begin as early as January 3, 2017 and will terminate no later than February 19, 2018, unless terminated sooner in accordance with the terms of such plan. Sales to the Betterley Trading Plan are expected to begin as early as August 13, 2017 and will terminate no later than September 13, 2017, unless terminated sooner in accordance with the terms of such plan. Sales to the Rosenstein Trading Plan are expected to begin as early as August 13, 2017 and will terminate no later than September 13, 2018, unless terminated sooner in accordance with the terms of such plan.

All shares will be sold under the Plans in the open market at prevailing market prices, subject to certain limit price restrictions in the Kenny Trading Plan. Messrs. Kenny, Betterley and Rosenstein will have no control over the actual timing of the stock sales under the Plans. All stock sales under the Plans will be disclosed publicly in accordance with applicable securities laws, rules and regulations through appropriate filings with the U.S. Securities and Exchange Commission. The Company does not undertake to report other Rule 10b5-1 plans that may be adopted by any of its officers or directors in the future, to report any modifications or termination of any publicly announced plan, or to report any plan adopted by an employee who is not an executive officer, except in each case to the extent required by law.

About Cardiovascular Systems, Inc. (NASDAQ:CSII)



Cardiovascular Systems, Inc. (NASDAQ:CSII) Recent Trading Information

Cardiovascular Systems, Inc. (NASDAQ:CSII) closed its last trading session at with 346,130 shares trading hands.