SUNNYVALE, Calif., June 6, 2022
/PRNewswire/ -- Accuray Incorporated (NASDAQ: ARAY) today
reported, as required by NASDAQ Listing Rules, equity inducement
awards to Sandeep Chalke, the
company's new senior vice president, chief commercial officer. As a
material inducement to Mr. Chalke joining the company, and in
accordance with NASDAQ Listing Rule 5635(c)(4), the Board approved
granting Mr. Chalke (i) an award of 312,500 restricted stock units
covering shares of the company's common stock, and (ii) a stock
option to purchase 515,873 shares of the company's common stock, in
each case effective as of May 31, 2022 (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.
25 percent of the restricted stock units subject to the
restricted stock unit award will vest on each yearly anniversary of
the restricted stock unit award's grant date, subject to Mr.
Chalke's continued service through each applicable vesting
date.
The stock option award has a ten-year term and a per share
exercise price of $2.08, 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 yearly 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 Mr. Chalke's
continued service through each applicable vesting date.
About Accuray
Accuray is committed to expanding the powerful potential of
radiation therapy to improve as many lives as possible. We invent
unique, market-changing solutions designed to deliver radiation
treatments for even the most complex cases—while making commonly
treatable cases even easier—to meet the full spectrum of patient
needs. We are dedicated to continuous innovation in radiation
therapy for oncology, neuro-radiosurgery, and beyond, as we partner
with clinicians and administrators, empowering them to help
patients get back to their lives, faster. Accuray is headquartered
in Sunnyvale, California, with
facilities worldwide. To learn more, 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
View original content to download
multimedia:https://www.prnewswire.com/news-releases/accuray-incorporated-reports-inducement-awards-under-nasdaq-listing-rules-301561601.html
SOURCE Accuray Incorporated