CytoSorbents Announces New Equity Incentive Grants Under Nasdaq Rule

PRINCETON, N.J., Aug. 16, 2024 – CytoSorbents Corporation CTSO, a renowned name in critical care immunotherapy and a pioneer in the blood purification technology sector, has recently declared the issuance of inducement grants. These grants are released in alignment with the Nasdaq Listing Rule 5635(c)(4), showcasing the company's continuous commitment to attracting and maintaining top-tier talent crucial for its innovative pursuits.

Understanding the Nasdaq Rule 5635(c)(4)

Nasdaq's Listing Rule 5635(c)(4) governs the criteria and conditions for issuing inducement grants to employees that join a company, which are often in the form of equity awards. The rule stipulates that inducement grants should serve as an incentive for new hires and are typically approved by either the company's board of directors or a committee designated for this purpose. Such inducement grants can be a valuable tool for companies like CytoSorbents to secure the best talents in their industry.

CytoSorbents' Strategic Move to Strengthen Its Team

With its headquarters nestled in Monmouth Junction, New Jersey, CytoSorbents Corporation focuses on addressing life-threatening conditions predominant in intensive care and cardiac surgery spaces. Their proprietary adsorbent and porous polymer technology are the cornerstones behind their blood purification devices. By approving these new equity incentives, CytoSorbents is poised not only to bolster its workforce but also to enhance its research and development capabilities, ultimately driving progress in medical device innovations.

CytoSorbents, CTSO, Grants