Madison – October 31, 2026 -- Accuray Incorporated (NASDAQ: ARAY) granted 650,000 restricted stock units and 650,000 performance-based restricted stock units (at target) to Sofiane Laoussadi, its new Senior Vice President, Global Services & Solutions. The two awards cover 1.3 million shares of common stock at target.
Awards fall under NASDAQ inducement rule 5635(c)(4)
The Compensation Committee approved the grants as a material inducement for Laoussadi to join the company, in line with NASDAQ Listing Rule 5635(c)(4). Accuray disclosed them as that rule requires. Both awards took effect on October 30, 2026.
The grants sit outside the company's current equity plan. Their terms are generally consistent with those of the 2026 Equity Incentive Plan.
Time-based units vest in four annual installments from October 2027
One-fourth of the shares underlying the restricted stock unit award vests on October 30, 2027. A further one-fourth vests on each yearly anniversary after that. Each installment requires Laoussadi's continued service through the vesting date.
Performance units run through the end of fiscal 2028
The performance period for the performance-based units ends on the last day of Accuray's 2028 fiscal year. Vesting depends on performance criteria and other terms set by the Compensation Committee. These are the same terms applied to performance-based units granted to other similarly situated senior executives. Laoussadi must also remain in service, and the award agreement terms apply.
Accuray did not disclose the specific performance metrics or Laoussadi's start date.