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Endologix Appoints Greg Morrow (USNA ’85) as Chief Marketing Officer and Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Posted on 01/31/2018

Endologix, Inc. (Nasdaq:ELGX), a developer and marketer of innovative treatments for aortic disorders, announced today that it has appointed Greg Morrow as the Companys Chief Marketing Officer, effective immediately. 

Mr. Morrow brings to Endologix a wealth of executive marketing experience in medical devices. Most recently, he led the Coronary Division and Marketing Function for Abbott Vascular. While at Abbott, he was responsible for all elements of commercial operations and concurrently responsible for global volume and market share. He led a transformation of the marketing strategy to rejuvenate the core business, achieving global leadership share in metallic stents, and further transformed the global commercial model and upstream pipeline in both metallic stents and guide wires. He also created the companys Centers of Marketing Excellence, which included Abbott Vasculars first-ever digital marketing, hospital administrative customer marketing, and direct to patient marketing capabilities.

Before joining Abbott, Mr. Morrow served in executive, medical device marketing roles at Novartis, Johnson & Johnson, and Invisalign (Align Technology).

John McDermott, Chief Executive Officer for Endologix, said, We are very excited to welcome Greg to Endologixs executive team. He is a proven marketing executive with a strong track record of growing medical device businesses in highly competitive and challenging environments and achieving breakthrough results. His experience will be invaluable in both strengthening our brand value proposition and maximizing the impact of our innovative new product pipeline.

Greg Morrow said, I am thrilled to have the opportunity to lead Endologixs global marketing team. The Company has built an impressive new product portfolio, and our marketing teams goal is to effectively launch these new technologies, strengthen the brand, and provide excellent clinical outcomes for physicians and their patients.

Mr. Morrow earned his MBA from the University of Maryland and a Bachelor of Science in Industrial Engineering from the U.S. Naval Academy. He is also a graduate of the Stanford Executive Program and a combat veteran of the Persian Gulf.

Endologix has also announced the grant of equity awards under its 2017 Inducement Stock Incentive Plan (the 2017 Plan) to Mr. Morrow as an inducement material to Mr. Morrows entry into employment with Endologix, as permitted under NASDAQ Listing Rule 5635(c)(4).

The inducement grants to Mr. Morrow consisted of (i) a non-qualified option to purchase up to 158,925 shares of Endologixs common stock at an exercise price of $4.34 per share; and (ii) 46,083 restricted stock units (the RSUs). The date of grant for the option and RSUs was January 26, 2018.

One quarter (25%) of the shares subject to the option shall vest and become exercisable upon completion of one year of service, with the remaining shares vesting in thirty-six (36) equal, consecutive, monthly installments as measured from the first anniversary of the grant date, subject to Mr. Morrows continued service with Endologix as of each vesting installment date. The RSUs shall vest upon satisfaction of certain (i) performance milestones, which shall be determined by Endologix within ninety (90) days of commencement of Mr. Morrows employment, and (ii) tenure requirements. 2017 Global Data Point. 

LOAD-DATE: January 30, 2018 

LANGUAGE: ENGLISH 

PUBLICATION-TYPE: Web Publication 

JOURNAL-CODE: 1633

 LENGTH: 558  words 

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