SUNNYVALE, Calif., Dec. 3, 2020 /PRNewswire/ -- Accuray
Incorporated (NASDAQ: ARAY) today reported, as required by NASDAQ
Stock Market Rules, equity inducement awards to Jim Dennison, the company's new Senior Vice
President, Quality & Regulatory Affairs. As a material
inducement to Mr. Dennison joining the company, and in accordance
with NASDAQ Listing Rule 5635(c)(4), the Board approved granting
Mr. Dennison (i) an award of 56,053 restricted stock units covering
shares of the company's common stock, and (ii) a stock option to
purchase 105,485 shares of the company's common stock, in each case
effective as of November 30 (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 Mr. Dennison's
continued service through each applicable vesting date.
The stock option award has a ten-year term and a per share
exercise price of $4.46, 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
Mr. Dennison'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 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:http://www.prnewswire.com/news-releases/accuray-incorporated-reports-inducement-awards-under-nasdaq-listing-rules-301186155.html
SOURCE Accuray Incorporated