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Accuray Incorporated (NASDAQ: ARAY) today reported, as required by NASDAQ Listing Rules, equity inducement awards to Paul Miele, the company's new Chief Commercial Officer and David Shin, the company's new Chief Legal Officer.
As material inducements to Mr. Miele and Mr. Shin joining the company, and in accordance with NASDAQ Listing Rule 5635(c)(4), the Compensation Committee approved the granting of equity inducement awards to each of Mr. Miele and Mr. Shin, in each case effective as of May 29, 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 Stand‑Alone Inducement Restricted Stock Unit Agreement and the company's 2026 Equity Incentive Plan.
Paul Miele Inducement Award
Mr. Miele was granted 650,000 restricted stock units ("RSUs") covering shares of the company's common stock. One fourth (1/4) of the underlying shares subject to the RSU award will vest on April 30, 2027 and will continue to vest as to one-fourth (1/4) of the underlying shares subject to the RSU award on each yearly anniversary of such date, subject in each case to Mr. Miele's continued employment through the applicable vesting date.
In addition, Mr. Miele was granted 650,000 performance based restricted stock units ("PSUs") (at target) covering shares of the company's common stock. The PSUs 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 Board of Directors or its Compensation Committee for performance based restricted stock units granted to other similarly situated senior executives, subject to Mr. Miele's continued employment and the terms of the applicable award agreement.
David Shin Inducement Award
Mr. Shin was granted 375,000 restricted stock units ("RSUs") covering shares of the company's common stock. One‑fourth (1/4) of the underlying shares subject to the RSU award will vest on January 29, 2027 and will continue to vest as to one-fourth (1/4) of the underlying shares subject to the RSU award on each yearly anniversary of such date, subject in each case to Mr. Shin's continued employment through the applicable vesting date.
In addition, Mr. Shin was granted 375,000 performance based restricted stock units ("PSUs") (at target) covering shares of the company's common stock. The PSUs 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. Shin's continued employment 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 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
Taylor Bould
Communications Specialist, Accuray
+1 (608) 830-3604
tbould@accuray.com
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SOURCE Accuray Incorporated
