SUNNYVALE, Calif., Nov. 6, 2019 /PRNewswire/ -- Accuray
Incorporated (NASDAQ: ARAY) today reported, as required by NASDAQ
Stock Market Rules, equity inducement awards to Suzanne Winter, the company's new Senior Vice
President, Chief Commercial Officer. As a material inducement
to Ms. Winter joining the company, and in accordance with NASDAQ
Listing Rule 5635(c)(4), the Board of Directors of the company
unanimously approved granting Ms. Winter (i) an award of 375,000
restricted stock units covering shares of the company's common
stock, and (ii) a stock option to purchase 275,000 shares of the
company's common stock, in each case effective as of October 31,
2019 (collectively, the "Inducement Awards"). The Inducement Awards
were made outside of the company's current equity plan, but are
subject to terms and conditions generally consistent with those in
the company's 2016 Equity Incentive Plan.
Twenty-five percent of the restricted stock units subject to the
restricted stock unit award will vest on each anniversary of the
restricted stock unit award's grant date, subject to Ms. Winter's
continued service through each applicable vesting date.
The stock option award has a ten-year term and a per share
exercise price of $2.60, representing
the closing price of the company's common stock as quoted on the
NASDAQ Global Select Market on the stock option award's date of
grant. Twenty-five percent of the shares subject to the
option will vest on the first anniversary of the option's grant
date and an additional 1/48th of the aggregate number of
shares subject to the option will vest each month thereafter,
subject to Ms. Winter's continued service through each applicable
vesting date.
About Accuray
Accuray Incorporated (Nasdaq: ARAY) develops, manufactures and
sells radiotherapy systems that are intended to make cancer
treatments shorter, safer, personalized and more effective,
ultimately enabling patients to live longer, better lives. Our
radiation treatment delivery systems in combination with
fully-integrated software solutions set the industry standard for
precision and cover the full range of radiation therapy and
radiosurgery procedures. For more information, please visit
www.accuray.com or follow us on Facebook, LinkedIn, Twitter and
YouTube.
Media Contact
Beth
Kaplan
Public Relations Director, Accuray
+1 (408) 789-4426
bkaplan@accuray.com
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SOURCE Accuray Incorporated