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<p style="font-family:Times New Roman, Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>UNITED STATES</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Washington, D. C.<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;20549</font></b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>FORM 8-K</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:12pt;margin:0pt;text-align:center;"><b>CURRENT REPORT</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Pursuant to Section<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;13 or 15(d) of the</font></b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Securities Exchange Act of 1934</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>February 13, 2018</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Date of Report (date of earliest event reported)</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:24pt;margin:0pt;text-align:center;"><b>AirXpanders, Inc.</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(Exact name of Registrant as specified in charter)</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Delaware</b></p>
			</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:32%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>000-55781</b></p>
			</td>
			<td style="vertical-align:bottom;width:1%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:32%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>20-2555438</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:34%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(State or other jurisdiction</b></p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>of incorporation)</b></p>
			</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:32%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(Commission</b></p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>File Number)</b></p>
			</td>
			<td style="vertical-align:bottom;width:1%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:32%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(I. R. S.<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;Employer</font></b></p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Identification No.)</b></p>
			</td>
		</tr>

</table>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>1047 Elwell Court Palo Alto, CA, 94303</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(Address of principal executive offices)</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Registrant&#39;s telephone number, including area code:<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;(650) 390-9000</font></b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>N/A</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(Former name or former address, if changed since last report)</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

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			<td style="width:25pt;">&nbsp;</td>
			<td style="width:24pt;vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">&#9744;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:Times New Roman, Times, serif;">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</font></p>
			</td>
		</tr>

</table>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

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		<tr>
			<td style="width:25pt;">&nbsp;</td>
			<td style="width:24pt;vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">&#9744;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:Times New Roman, Times, serif;">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
			</td>
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<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

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		<tr>
			<td style="width:25pt;">&nbsp;</td>
			<td style="width:24pt;vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">&#9744;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:Times New Roman, Times, serif;">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
			</td>
		</tr>

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<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

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		<tr>
			<td style="width:25pt;">&nbsp;</td>
			<td style="width:24pt;vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">&#9744;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:Times New Roman, Times, serif;">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
			</td>
		</tr>

</table>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933&nbsp;(17 CFR &sect;<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR &sect;240.12b-2).</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Emerging growth company &nbsp;&#9746;</p>

<p>&nbsp;</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for&nbsp;complying with any new or revised financial accounting standards provided pursuant to Section<font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> 13(a) of the Exchange Act. </font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&#9744;</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%">&nbsp;</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Item<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;5.02 - </font></b><b>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i><b>Approval of 2017 Bonuses for Executive Officers</b></i></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;On February 13, 2018, the Board of Directors (the &ldquo;<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Board&rdquo;) of AirXpanders, Inc. (the &ldquo;Company&rdquo;), following a recommendation from the Remuneration and Nomination Committee (the &ldquo;Committee&rdquo;), approved the 2017 short-term incentive (&ldquo;STI&rdquo;) and long-term incentive (&ldquo;LTI&rdquo;) bonuses for the following executive officers of the Company:</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="margin-left:0.1%;width:98.2%;text-indent:0;font-family:Times New Roman, Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align:middle;border-bottom: 1px #000000;;width:19.2%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Executive Officer</b></p>
			</td>
			<td style="vertical-align:middle;border-bottom: 1px #000000;;width:52.1%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Title</b></p>
			</td>
			<td style="vertical-align:middle;border-bottom: 1px #000000;;width:15%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>2017 STI</b></p>
			</td>
			<td style="vertical-align:top;border-bottom: 1px #000000;;width:13.7%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>2017 LTI</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:middle;border-bottom: 1px #000000;;width:19.2%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Scott Dodson</p>
			</td>
			<td style="vertical-align:middle;border-bottom: 1px #000000;;width:52.1%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">President and Chief Executive Officer</p>
			</td>
			<td style="vertical-align:middle;border-bottom: 1px #000000;;width:15%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">$40,425</p>
			</td>
			<td style="vertical-align:top;border-bottom: 1px #000000;;width:13.7%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">$77,000</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:middle;border-bottom: 1px #000000;;width:19.2%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Scott Murcray</p>
			</td>
			<td style="vertical-align:middle;border-bottom: 1px #000000;;width:52.1%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Chief Financial Officer and Chief Operating Officer</p>
			</td>
			<td style="vertical-align:middle;border-bottom: 1px #000000;;width:15%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">$19,1<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">10</font></p>
			</td>
			<td style="vertical-align:top;border-bottom: 1px #000000;;width:13.7%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">$40,950</p>
			</td>
		</tr>

</table>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The 2017 STI is payable in cash. The 2017 LTI is payable in stock options to purchase Class A Common Stock.&nbsp; The number of stock options issued shall be subject to Board approval, based on the fair value of the&nbsp;Class A Common Stock on the date of grant using the Black Scholes model, and granted subsequent to the issuance of the Company&rsquo;s 2017 financial statements.&nbsp;Upon grant of the stock options by the Board, the options will vest 25% after one year, with the remaining balance vesting 1/36 per month for 36 months, for a total vesting period of 4 years, so long as the executive officer is an employee of the Company at the date each tranche of options vest. In the case of Mr. Dodson, the issuance of the stock options is subject to stockholder approval at the 2018&nbsp;Annual Stockholder Meeting.</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i><b>Approval of 2018 Salaries and Target Bonuses for Executive Officers</b></i></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;On February 13, 2018, the Board, following a recommendation from the Committee, approved the 2018 salaries and target STI and LTI bonuses for the following executive officers of the Compan<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">y:</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="margin-left:0.1%;width:98.2%;text-indent:0;font-family:Times New Roman, Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align:middle;border-bottom: 1px #000000;;width:17.7%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Executive Officer</b></p>
			</td>
			<td style="vertical-align:middle;border-bottom: 1px #000000;;width:47.2%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Title</b></p>
			</td>
			<td style="vertical-align:middle;border-bottom: 1px #000000;;width:11.8%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>2018 Salary</b></p>
			</td>
			<td style="vertical-align:top;border-bottom: 1px #000000;;width:11.6%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>STI as a % of Salary</b></p>
			</td>
			<td style="vertical-align:top;border-bottom: 1px #000000;;width:11.6%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>LTI as a % of Salary</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:middle;border-bottom: 1px #000000;;width:17.7%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Scott Dodson</p>
			</td>
			<td style="vertical-align:middle;border-bottom: 1px #000000;;width:47.2%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">President and Chief Executive Officer</p>
			</td>
			<td style="vertical-align:middle;border-bottom: 1px #000000;;width:11.8%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">$397,000</p>
			</td>
			<td style="vertical-align:top;border-bottom: 1px #000000;;width:11.6%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">40%</p>
			</td>
			<td style="vertical-align:top;border-bottom: 1px #000000;;width:11.6%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">40%</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:middle;border-bottom: 1px #000000;;width:17.7%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Scott Murcray</p>
			</td>
			<td style="vertical-align:middle;border-bottom: 1px #000000;;width:47.2%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Chief Financial Officer and Chief Operating Officer</p>
			</td>
			<td style="vertical-align:middle;border-bottom: 1px #000000;;width:11.8%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">$300,000</p>
			</td>
			<td style="vertical-align:top;border-bottom: 1px #000000;;width:11.6%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">30%</p>
			</td>
			<td style="vertical-align:top;border-bottom: 1px #000000;;width:11.6%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">35%</p>
			</td>
		</tr>

</table>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;The 2018 salaries will be effective March 1, 2018. Actual STI bonuses for 2018 for the executive officers may range between 0% and 100% of the target bonus amount depending on the Company<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&rsquo;s actual financial performance as compared to specified targets set for 2018 revenues and cash flow, as well as other corporate objectives which were recommended by the Committee and approved by the Board. STI bonuses are payable in cash as long as the executive officer is an employee of the Company at the date of payment. Actual LTI bonuses for 2018 for the executive officers may range between 0% and 100% of the target bonus amount depending on the Company&rsquo;s total shareholder return relative to an appropriate peer group selected by the Board, and other agreed-upon strategic objectives recommended by the Committee and approved by the Board. LTI bonuses are payable in stock options to purchase Class A Common Stock.&nbsp; The number of stock options issued shall be subject to Board approval, based on a ten-day weighted average closing price of our common stock formula as set forth in the 2018 LTI plan, and granted subsequent to the issuance of the Company&rsquo;s 2018 financial statements. &nbsp;Upon grant of the stock options by the Board, the options will vest 25% after one year, with the remaining balance vesting 1/36 per month for 36 months, for a total vesting period of 4 years, so long as the executive officer is an employee of the Company at the date each tranche of options vest. In the case of Mr. Dodson, the issuance of the stock options is subject to stockholder approval at the 2019 Annual Stockholder Meeting.</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i><b>Grant of Stock Options to Executive Officer </b></i></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;On February 13, 2018, the Board, following a recommendation from the Committee, granted to Scott Murcray, Chief Financial Officer and Chief Ope<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">rating Officer, an option to purchase 600,000 shares of the Company&#39;s Class A&nbsp;Common Stock under the Amended and Restated 2015 Equity Incentive Plan. The options will vest 100% after three years, so long as Mr. Murcray is an employee of the Company at the date the options fully vest. </font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Signature</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" id="TBL7" style="width:100%;text-indent:0;font-family:Times New Roman, Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align:bottom;width:51.8%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Dated: February 20, 2018</p>
			</td>
			<td style="vertical-align:bottom;width:0.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:47.3%;">AIRXPANDERS, INC.</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:51.8%;">&nbsp;</td>
			<td colspan="2" style="vertical-align:bottom;width:48.1%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:51.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;border-bottom:solid 1px #000000;;width:47.3%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt 3pt;text-align:center;">/S/<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;Scott Murcray</font></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:51.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:47.3%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt 2.9pt;text-align:center;">Scott Murcray</p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt 3pt;text-align:center;">Chief Financial Officer and Chief Operating Office</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:51.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:47.3%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt 3pt;text-align:center;">Duly Authorized Officer</p>
			</td>
		</tr>

</table>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>
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</html>
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axp20170720_8k.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C.
20549
FORM 8-K
CURRENT REPORT
Pursuant to Section
13 or 15(d) of the
Securities Exchange Act of 1934
February 13, 2018
Date of Report (date of earliest event reported)
AirXpanders, Inc.
(Exact name of Registrant as specified in charter)
Delaware
000-55781
20-2555438
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I. R. S.
Employer
Identification No.)
1047 Elwell Court Palo Alto, CA, 94303
(Address of principal executive offices)
Registrant's telephone number, including area code:
(650) 390-9000
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §
230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company  ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section
13(a) of the Exchange Act.
☐
Item
5.02 -
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Approval of 2017 Bonuses for Executive Officers
On February 13, 2018, the Board of Directors (the "
Board") of AirXpanders, Inc. (the "Company"), following a recommendation from the Remuneration and Nomination Committee (the "Committee"), approved the 2017 short-term incentive ("STI") and long-term incentive ("LTI") bonuses for the following executive officers of the Company:
Executive Officer
Title
2017 STI
2017 LTI
Scott Dodson
President and Chief Executive Officer
$40,425
$77,000
Scott Murcray
Chief Financial Officer and Chief Operating Officer
$19,1
10
$40,950
The 2017 STI is payable in cash. The 2017 LTI is payable in stock options to purchase Class A Common Stock.  The number of stock options issued shall be subject to Board approval, based on the fair value of the Class A Common Stock on the date of grant using the Black Scholes model, and granted subsequent to the issuance of the Company's 2017 financial statements. Upon grant of the stock options by the Board, the options will vest 25% after one year, with the remaining balance vesting 1/36 per month for 36 months, for a total vesting period of 4 years, so long as the executive officer is an employee of the Company at the date each tranche of options vest. In the case of Mr. Dodson, the issuance of the stock options is subject to stockholder approval at the 2018 Annual Stockholder Meeting.
Approval of 2018 Salaries and Target Bonuses for Executive Officers
On February 13, 2018, the Board, following a recommendation from the Committee, approved the 2018 salaries and target STI and LTI bonuses for the following executive officers of the Compan
y:
Executive Officer
Title
2018 Salary
STI as a % of Salary
LTI as a % of Salary
Scott Dodson
President and Chief Executive Officer
$397,000
40%
40%
Scott Murcray
Chief Financial Officer and Chief Operating Officer
$300,000
30%
35%
The 2018 salaries will be effective March 1, 2018. Actual STI bonuses for 2018 for the executive officers may range between 0% and 100% of the target bonus amount depending on the Company
's actual financial performance as compared to specified targets set for 2018 revenues and cash flow, as well as other corporate objectives which were recommended by the Committee and approved by the Board. STI bonuses are payable in cash as long as the executive officer is an employee of the Company at the date of payment. Actual LTI bonuses for 2018 for the executive officers may range between 0% and 100% of the target bonus amount depending on the Company's total shareholder return relative to an appropriate peer group selected by the Board, and other agreed-upon strategic objectives recommended by the Committee and approved by the Board. LTI bonuses are payable in stock options to purchase Class A Common Stock.  The number of stock options issued shall be subject to Board approval, based on a ten-day weighted average closing price of our common stock formula as set forth in the 2018 LTI plan, and granted subsequent to the issuance of the Company's 2018 financial statements.  Upon grant of the stock options by the Board, the options will vest 25% after one year, with the remaining balance vesting 1/36 per month for 36 months, for a total vesting period of 4 years, so long as the executive officer is an employee of the Company at the date each tranche of options vest. In the case of Mr. Dodson, the issuance of the stock options is subject to stockholder approval at the 2019 Annual Stockholder Meeting.
Grant of Stock Options to Executive Officer
On February 13, 2018, the Board, following a recommendation from the Committee, granted to Scott Murcray, Chief Financial Officer and Chief Ope
rating Officer, an option to purchase 600,000 shares of the Company's Class A Common Stock under the Amended and Restated 2015 Equity Incentive Plan. The options will vest 100% after three years, so long as Mr. Murcray is an employee of the Company at the date the options fully vest.
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: February 20, 2018
AIRXPANDERS, INC.
/S/
Scott Murcray
Scott Murcray
Chief Financial Officer and Chief Operating Office
Duly Authorized Officer