CLEVELAND, June 3, 2020 /PRNewswire/ -- ViewRay, Inc.
(Nasdaq: VRAY) announced today grants of stock options and
restricted stock units to Zach
Stassen, Chief Financial Officer for the company.
These awards were granted as an inducement material to entering
into employment with ViewRay, in accordance with Nasdaq Listing
Rule 5635(c)(4) and as approved by the Compensation Committee of
ViewRay's Board of Directors.
As an inducement material to Mr. Stassen's entering into
employment, the company granted to Mr. Stassen 495,079 stock
options and 33,907 restricted stock units ("RSUs") effective
June 1, 2020. This award was granted
in accordance with Nasdaq Listing Rule 5635(c)(4), has been
approved by the Compensation Committee of ViewRay's Board of
Directors and is subject to the terms and conditions of the
ViewRay, Inc. 2018 Equity Inducement Award Program and an award
agreement between the company and Mr. Stassen.
In addition, Mr. Stassen was granted 311,396 RSUs under the
ViewRay 2015 Equity Incentive Plan and an award agreement between
the company and Mr. Stassen.
The terms for the grants described above are or will be subject
to the terms and conditions of ViewRay's 2015 Stock Incentive Plan,
and include service-based vesting requirements for (i) the stock
option portion of the grant, vesting over four years, and (ii) the
RSU portion of the grant, vesting over three years. The stock
options have an exercise price equal to the closing trading price
of ViewRay's common stock on the effective date.
About ViewRay
ViewRay®, Inc. (Nasdaq: VRAY), designs,
manufactures, and markets the MRIdian® radiation therapy system.
MRIdian is built upon a proprietary high- definition MR imaging
system designed from the ground up to address the unique challenges
and clinical workflow for advanced radiation oncology. Unlike MR
systems used in diagnostic radiology, MRIdian's high-definition MR
was purposely built to deliver high-precision radiation without
unnecessary beam distortion, and consequently, help to mitigate
skin toxicity and other safety concerns that may otherwise arise
when high magnetic fields interact with radiation beams.
Forward-Looking Statements
This press release
contains forward-looking statements within the meaning of Section
27A of the Private Securities Litigation Reform Act. Statements in
this press release that are not purely historical are
forward-looking statements. Such forward-looking statements
include, among other things, the rate of new orders, upgrades and
installations, ViewRay's financial guidance for the full year 2020
and ViewRay's conference calls to discuss its quarterly 2020
results. Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the ability to commercialize MRIdian Linac
System, demand for ViewRay's products, the ability to convert
backlog into revenue, the timing of delivery of ViewRay's products,
the timing, length and severity of the recent COVID-19
(coronavirus) pandemic, including its impacts across our businesses
on demand, operations and our global supply chains, the results and
other uncertainties associated with clinical trials, the ability to
raise the additional funding needed to continue to pursue ViewRay's
business and product development plans, the inherent uncertainties
associated with developing new products or technologies,
competition in the industry in which ViewRay operates, and overall
market conditions. For a further description of the risks and
uncertainties that could cause actual results to differ from those
expressed in these forward-looking statements, as well as risks
relating to ViewRay's business in general, see ViewRay's current
and future reports filed with the Securities and Exchange
Commission, including its Annual Report on Form 10-K for the fiscal
year ended December 31, 2019 and its
Quarterly Reports on Form 10-Q, as updated periodically with the
company's other filings with the SEC. These forward-looking
statements are made as of the date of this press release, and
ViewRay assumes no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements,
except as required by law.
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SOURCE ViewRay, Inc.