NanoString Technologies, Inc. (NASDAQ:NSTG) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

NanoString Technologies, Inc. (NASDAQ:NSTG) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February6, 2018, the compensation committee of the board of directors of NanoString Technologies, Inc. (the “Company”) approved 2017 non-equity incentive plan compensation and 2018 base salaries for each of the Company’s named executive officers. For additional information, please see the section captioned “Executive Compensation” of the Company’s Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission (the “Commission”) on April 28, 2017.

The 2018 base salaries for Messrs. Gray and Ghesquiere set forth in the table above are unchanged from their respective 2017 base salaries.

Messrs.Gray and Ghesquiere are eligible to receive bonuses under the Company’s 2018 non-equity incentive plan of up to 85% and 50%, respectively, of their base salary. Mr.Gray’s bonus is based solely on corporate goals. The bonus for Mr.Ghesquiere is based 75% on corporate goals and 25% on individual goals. The 2018 corporate goals include achieving product and service revenue and growth targets; launching new panel products for oncology, neurology, and immunology research; launching the Digital Spatial Profiling product on an early access basis; advancing development of new products, such as the LymphMark™ assay and Hyb & Seq™ technology; and achievement of cash position goals and other financial targets. Mr. Thomas Bailey, the Company’s Chief Financial Officer, is also eligible to receive a bonus under the Company’s 2018 non-equity incentive plan of up to 50% of his base salary, based 75% on corporate goals and 25% on individual goals. For additional information regarding Mr. Bailey’s compensation, please see the Company’s Form 8-K filed with the Commission on January 16, 2018.

Item 5.02 Regulation FD Disclosure.

On January 8, 2018, the Company issued a press release announcing certain preliminary operational and financial results for its fourth quarter and fiscal year 2017. The press release incorrectly stated that cash, cash equivalents and short-term investments were approximately $82.0 million at December 31, 2017. The correct balance of cash, cash equivalents and short-term investments at December 31, 2017 was approximately $77.6 million. This correction does not impact the Company’s expectation that its existing cash on-hand will be sufficient to fund its operations through mid-2019. Other than the foregoing, there are no other changes to the information contained in the January 8, 2018 press release.

About NanoString Technologies, Inc. (NASDAQ:NSTG)
NanoString Technologies, Inc. develops and manufactures intuitive products that unlock scientifically valuable and clinically actionable biologic information from minute amounts of tissue. The Company operates in the segment of development, manufacture and commercialization of instruments, consumables and services for profiling the activity of hundreds of genes and proteins simultaneously from a single tissue sample. Its nCounter Analysis System is an automated, multi-application, digital detection and counting system, which directly profiles hundreds of molecules simultaneously using a barcoding technology. It markets systems and related consumables to researchers in academic, government and biopharmaceutical laboratories for use in understanding fundamental biology, and to clinical laboratories and medical centers for diagnostic use. Its molecular diagnostic product Prosigna Breast Cancer Assay provides an assessment of a patient’s risk of recurrence for breast cancer.