options- new employees

Sunshine Heart Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
EDEN PRAIRIE, Minn., Feb. 28, 2014 (GLOBE NEWSWIRE) -- Sunshine Heart, Inc. (Nasdaq:SSH), today announced that on February 27, 2014, the Compensation Committee of its Board of Directors approved eleven equity awards under Sunshine Heart's New-Hire Equity Incentive Plan, as material inducements to eleven individuals' entering into employment with the Company. The equity awards were approved in accordance with NASDAQ Listing Rule 5635(c)(4), which also requires a public announcement of equity awards that are not made under a stockholder approved equity plan.

In connection with their entering into employment with Sunshine Heart, the eleven individuals, who were not previously employees or directors of Sunshine Heart, received options to purchase an aggregate of 55,700 shares of the Company's common stock. Ten of the eleven options have an exercise price of $8.61 per share, which is equal to the closing price of the Company's common stock on February 27, 2014. One of the options, for 2,500 shares, will be granted effective March 5, 2014, and will have an exercise price equal to the closing price of the Company's common stock on that date. All eleven options have ten-year terms and vest over a period of four years, with 25% vesting one year after the date of grant and the remaining 75% vesting in 36 approximately equal monthly increments, provided the new hire's employment is continuing on each such date, and subject to acceleration or forfeiture upon the occurrence of certain events as set forth in the new hire's option agreement.