Accuray Incorporated Reports Inducement Grant Under NASDAQ Listing Rules

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Oct 04, 2017, 16:10 ET

SUNNYVALE, Calif., Oct. 4, 2017 /PRNewswire/ -- Accuray Incorporated (NASDAQ: ARAY) today reported, as required by NASDAQ Stock Market Rules, an equity inducement award to Shig Hamamatsu, the company's new VP, Finance & Chief Accounting Officer. As a material inducement to Mr. Hamamatsu joining the company, and in accordance with NASDAQ Listing Rule 5635(c)(4), the Compensation Committee of the Board of Directors of the company granted Mr. Hamamatsu 100,000 restricted stock units on September 29, 2017 (the "Inducement Award"). The Inducement Award was made outside of the company's current equity plan, but will be subject to terms and conditions generally consistent with those in the company's 2016 Equity Incentive Plan. 25% of the restricted stock units subject to the Inducement Award will vest on each anniversary of the Inducement Award's grant date, subject to Mr. Hamamatsu's continued service through each such date.

About Accuray

Accuray Incorporated (Nasdaq: ARAY) is a radiation oncology company that develops, manufactures and sells precise, innovative treatment solutions that set the standard of care with the aim of helping patients live longer, better lives. The company's leading-edge technologies deliver the full range of radiation therapy and radiosurgery treatments. For more information, please visit www.accuray.com.

Media Contact
Beth Kaplan
Public Relations Director, Accuray
+1 (408) 789-4426
[email protected]

SOURCE Accuray Incorporated