CLEVELAND, Sept. 17, 2018 /PRNewswire/ -- ViewRay,
Inc. (Nasdaq: VRAY), maker of the MRIdian, which combines MRI and
external-beam radiation therapy to simultaneously image and treat
cancer patients, today announced grants of stock options and
restricted stock units to several new officers and employees.
These awards were granted as inducements material to entering into
employment with ViewRay, in accordance with Nasdaq Listing Rule
5635(c)(4) and as approved by the Compensation Committee of
ViewRay's Board of Directors. Below is a brief summary of the
awards:
- For Scott Drake, President and
Chief Executive Officer, effective July 22,
2018, 1,925,000 stock options with an exercise price of
$9.66 per share and 1,155,000
restricted stock units.
- For Shahriar Matin, Chief
Operating Officer, effective July 22,
2018, 962,500 stock options with an exercise price of
$9.66 per share and 577,500
restricted stock units.
- For three individuals, effective September 17, 2018, a total of 400,000 stock
options.
- For one individual, effective October
15, 2018, a total of 150,000 stock options.
These awards are or will be subject to the terms and conditions
of ViewRay's 2015 Stock Incentive Plan and their respective award
agreements. These terms include service-based vesting requirements,
with the stock options vesting over four years and the restricted
stock units vesting over three years. All options will have
an exercise price equal to the closing trading price of ViewRay's
common stock on the effective date.
About ViewRay
ViewRay®, Inc. (Nasdaq: VRAY), designs, manufactures and markets
the MRIdian® radiation therapy system. MRIdian is built upon a
proprietary high-definition MR imaging system designed from the
ground up to address the unique challenges and clinical workflow
for advanced radiation oncology helping to transform radiation
therapy, resulting in improved treatment outcomes that benefit both
patients and health care systems around the world. Unlike MR
systems used in diagnostic radiology, MRIdian's high-definition MR
was purposely built to deliver high-precision radiation without
unnecessary beam distortion, and consequently, help to mitigate
skin toxicity and other safety concerns that may otherwise arise
when high magnetic fields interact with radiation
beams. ViewRay and MRIdian are registered trademarks of
ViewRay, Inc.
Forward Looking Statements:
This press release contains forward-looking statements. Statements
in this press release that are not purely historical are
forward-looking statements. These forward-looking statements are
made as of the date of this press release, and ViewRay assumes no
obligation to update the forward-looking statements, or to update
the reasons why actual results could differ from those projected in
the forward-looking statements, except as required by law.
Investors should consult all of the information set forth herein
and should also refer to the risk factor disclosure set forth in
the reports and other documents ViewRay files with the SEC
available at www.sec.gov, including the risk factors disclosed in
ViewRay's Quarterly Report on Form 10-Q for the quarter ended
June 30, 2018.
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SOURCE ViewRay, Inc.