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 Officers

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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 Officers

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 Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.

Kelly Huang, age 50, has notified the Board of Directors of Obalon Therapeutics, Inc. (the “Company”) of his resignation from his position as President and Chief Executive Officer, effective May 20, 2019 (the “Effective Date”). In connection with Mr. Huang’s termination of his employment with the Company as of the Effective Date, Mr. Huang is expected to continue to serve as a consultant to the Company.
Also effective as of May 20, 2019, William Plovanic has been promoted to President and will retain his title as Chief Financial Officer. Mr. Plovanic was also appointed to serve as a Class I director on the Board. Information regarding Mr. Plovanic’s background, business experience, compensation and any related party transactions appears in Amendment No. 1 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, filed with the Securities and Exchange Commission on April 30, 2018 under Item 10. “Executive Officers,” Item 11. “Executive and Director Compensation,” and Item 13. “Certain Relationships and Related Party Transactions,” which information is incorporated herein by reference. There are no family relationships between Mr. Plovanic and any of the Company’s directors or executive officers.
Andy Rasdal will continue to serve as Executive Chairman.
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.