Accuray Incorporated Reports Inducement Award Under NASDAQ Listing Rules
Both equity awards require continued service, and the performance-based award also depends on achievement of performance criteria.
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Rhea-AI Summary
Accuray (NASDAQ: ARAY) granted equity inducement awards to its new Senior Vice President, Global Services & Solutions, Sofiane Laoussadi.
Effective October 30, 2026, the awards comprise 650,000 restricted stock units and 650,000 performance-based restricted stock units at target, both covering common shares. The Compensation Committee approved the grants as an inducement to join the company. They were made outside Accuray's current equity plan, with terms generally consistent with its 2026 Equity Incentive Plan. The performance award's measurement period ends on the last day of fiscal 2028, with vesting based on performance criteria and other applicable terms.
Positive
- None.
Negative
- Minor point. Forward-looking: it has not happened yet and may not happen.650,000 restricted stock units create potential shareholder dilution as the service-based award vests.
- Minor point. Forward-looking: it has not happened yet and may not happen.650,000 performance-based restricted stock units at target create potential dilution, subject to performance and continued service.
Key Figures
- Restricted stock units
- 650,000 units
- Inducement award to the new SVP
- Performance-based restricted stock units
- 650,000 units at target
- Inducement award to the new SVP
- RSU vesting schedule
- One-fourth (1/4) annually
- First vesting date: October 30, 2027; subject to continued service
- Performance period
- Ends on the last day of fiscal 2028
- Performance-based RSU award
Key Terms
restricted stock units financial
performance-based restricted stock units financial
nasdaq listing rule 5635(c)(4) regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
As a material inducement to Mr. Laoussadi joining the company, and in accordance with NASDAQ Listing Rule 5635(c)(4), the Compensation Committee approved granting to Mr. Laoussadi (i) an award of 650,000 restricted stock units covering shares of the company's common stock and (ii) an award of 650,000 performance-based restricted stock units (at target) covering shares of the company's common stock, in each case effective as of October 30, 2026 (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 2026 Equity Incentive Plan.
One-fourth (1/4) of the underlying shares subject to the restricted stock unit award will vest on October 30, 2027, and will continue to vest as to one-fourth (1/4) of the underlying shares subject to the restricted stock unit award on each yearly anniversary of such date, subject in each case to Mr. Laoussadi's continued service through the applicable vesting date.
The performance-based restricted stock unit award have a performance period ending on the last day of the company's 2028 fiscal year and will vest based on the achievement of performance criteria and other terms as determined by the Compensation Committee for performance based restricted stock units granted to other similarly situated senior executives of the company, subject to Mr. Laoussadi's continued service and the terms of the applicable award agreement.
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 Madison, Wisconsin, with facilities worldwide. To learn more, visit www.accuray.com or follow us on Facebook, LinkedIn, X, and YouTube.
Media Contact
Taylor Bould
Communications Specialist, Accuray
tbould@accuray.com
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SOURCE Accuray Incorporated
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What equity inducement awards did Accuray grant Sofiane Laoussadi?
Accuray granted 650,000 restricted stock units and 650,000 performance-based restricted stock units at target, effective October 30, 2026. Both awards cover common shares and were granted as a material inducement for Laoussadi to join as Senior Vice President, Global Services & Solutions.
When do Sofiane Laoussadi's Accuray restricted stock units vest?
The service-based award vests in one-fourth installments beginning October 30, 2027, and on each yearly anniversary thereafter, subject to continued service through each vesting date. The performance-based award depends on performance criteria and other terms determined by the Compensation Committee for similarly situated senior executives, continued service, and the applicable award agreement.