Accuray Incorporated Reports Inducement Award Under NASDAQ Listing Rules

Rhea-AI Summary

Accuray (NASDAQ: ARAY) has granted equity inducement awards to Mike Murphy, their new Vice President, Corporate Controller. The awards consist of 150,000 restricted stock units of company common stock, effective November 29, 2024. The Inducement Awards were granted outside the company's current equity plan but follow similar terms to their 2016 Equity Incentive Plan. The restricted stock units will vest at 25% annually over four years, starting from October 31, 2024, contingent on Murphy's continued employment.

MADISON, Wis., Nov. 26, 2024 /PRNewswire/ -- Accuray Incorporated (NASDAQ: ARAY) today reported, as required by NASDAQ Listing Rules, equity inducement awards to Mike Murphy, the company's new Vice President, Corporate Controller. As a material inducement to Mr. Murphy joining the company, and in accordance with NASDAQ Listing Rule 5635(c)(4), the Compensation Committee approved granting Mr. Murphy an award of 150,000 restricted stock units covering shares of the company's common stock effective as of November 29, 2024 (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 yearly anniversary of October 31, 2024, subject to Mr. Murphy'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 that are 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, X, and YouTube.

Media Contact
Beth Kaplan
Public Relations Director, Accuray
+1 (408) 789-4426
bkaplan@accuray.com 

 

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SOURCE Accuray Incorporated

FAQ

What inducement awards did Accuray (ARAY) grant to Mike Murphy in November 2024?

Accuray granted Mike Murphy 150,000 restricted stock units as inducement awards, vesting 25% annually over four years starting from October 31, 2024.

When will Mike Murphy's ARAY restricted stock units begin vesting?

The restricted stock units will begin vesting on October 31, 2024, with 25% vesting each year over four years, subject to continued employment.

How many restricted stock units did Accuray (ARAY) grant to their new VP Corporate Controller?

Accuray granted 150,000 restricted stock units to Mike Murphy, their new Vice President, Corporate Controller.