OBALON THERAPEUTICS, INC. (NASDAQ:OBLN) 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.
Amendment to Employee Stock Purchase Plan
On April 30, 2018, the Compensation Committee of the Board of Directors of Obalon Therapeutics, Inc. (the “Company”) adopted and approved an amendment (the “Employee Stock Purchase Plan Amendment”) to the Obalon Therapeutics, Inc. 2016 Employee Stock Purchase Plan (the “Employee Stock Purchase Plan”). The Employee Stock Purchase Plan Amendment, which became effective as of April 30, 2018, amends the Employee Stock Purchase Plan to (i) increase the length of offering periods from six months to twelve months and (ii) increase the number of shares of the Company’s common stock (the “Shares”) a participant is permitted to purchase on any one purchase date from 5,000 Shares to 20,000 Shares.
The foregoing summary of the Employee Stock Purchase Plan Amendment is qualified in its entirety by reference to the full text of the Employee Stock Purchase Plan Amendment, which is filed as Exhibit 10.1 to this Form 8-K, and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits
OBALON THERAPEUTICS INC ExhibitEX-10.1 2 oblnamend.htm EXHIBIT 10.1 Exhibit AMENDMENT TOOBALON THERAPEUTICS,…To view the full exhibit click here
About OBALON THERAPEUTICS, INC. (NASDAQ:OBLN)
Obalon Therapeutics, Inc. is a United States-based commercial-stage medical device company focused on developing and commercializing medical devices to treat obese and overweight people by facilitating weight loss. The Company’s product, Obalon balloon system, is a swallowable, gas-filled intragastric balloon designed to provide weight loss in obese patients. The Obalon balloon system is intended to be used as an adjunct to a moderate intensity diet and behavior modification program. All balloons must be removed six months after the first balloon is placed. The Obalon balloon system intends to provide patients and physicians with a reversible and repeatable weight loss solution in an outpatient setting, without altering patient anatomy or requiring surgery. The Company has received Premarket approval (PMA) for its Obalon balloon system based on the results of its United States pivotal clinical trial, referred to as the SMART trial.
