Form 8-K

8-K — ACCURAY INC

Accession: 0001437749-26-011547

Filed: 2026-04-07

Period: 2026-04-01

CIK: 0001138723

SIC: 3841 (SURGICAL & MEDICAL INSTRUMENTS & APPARATUS)

Item: Entry into a Material Definitive Agreement

Item: Financial Statements and Exhibits

Documents

8-K — aray20260402c_8k.htm (Primary)

EX-10.1 — EXHIBIT 10.1 (ex_941465.htm)

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0001138723

2026-04-01

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 1, 2026

ACCURAY INCORPORATED

(Exact name of Registrant as Specified in Its Charter)

Delaware

001-33301

20-8370041

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

1240 Deming Way

Madison, Wisconsin

53717-1954

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: 608 824-2800

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

Common Stock, $0.001 par value per share

ARAY

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

Amendment to Consulting Agreement

On April 1, 2026, Accuray Incorporated (the “Company”) entered into a letter agreement amendment (the “Amendment”) to the Consulting Agreement with Dedication Capital, LLC (an affiliate of Steven F. Mayer, a member of the board of directors of the Company), dated October 18, 2025 (together with the Amendment, the “Consulting Agreement”).

Pursuant to the Amendment, the cash compensation payable under the Consulting Agreement was reduced and certain equity vesting terms were modified. Specifically, each of the following was reduced by 50%: (1) the Base Consulting Fee (as defined in the Consulting Agreement) for the period after March 31, 2026 through October 31, 2026, (2) the minimum amount payable with respect to the cash incentive award payable for the Company’s fiscal year ended June 30, 2026, and (3) the minimum amount payable with respect to the mid-year cash incentive award for the Company’s fiscal quarter ended September 30, 2026. In addition, the time-based vesting component of each restricted stock award was deemed to be satisfied as of April 1, 2026 with respect to 916,336 shares of the Initial Restricted Shares (as defined in the Consulting Agreement) and 100% of the PSAs (as defined in the Consulting Agreement), and the End Date (as defined in the Consulting Agreement) was extended to October 31, 2026. The remaining 333,004 Initial Restricted Shares will vest as of October 31, 2026 in accordance with the applicable equity plan documents. The Amendment is expected to result in at least $362,500 in cash savings to the Company.

The description of the Amendment contained herein is qualified in its entirety by reference to the Amendment, which is filed as Exhibit 10.1 hereto.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.

Description

10.1

Letter Agreement Amendment by and between Accuray Incorporated and Dedication Capital, LLC, dated April 1, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

ACCURAY INCORPORATED

Date:

April 7, 2026

By:

/s/ Ali Pervaiz

Ali Pervaiz

Senior Vice President & Chief Financial Officer

EX-10.1 — EXHIBIT 10.1

EX-10.1

Filename: ex_941465.htm · Sequence: 2

ex_941465.htm

Exhibit 10.1

Accuray Incorporated

1240 Deming Way

Madison, WI 53717

April 1, 2026

Dedication Capital, LLC

10250 Constellation Boulevard

Suite 2600

Los Angeles, CA 90067

Attn: Steven F. Mayer

RE: Consulting Agreement, Dated October 18, 2025

Dear Sirs:

In connection with the Consulting Agreement, dated October 18, 2025 (the “Consulting Agreement”), by and among Accuray Incorporated (the “Company”), Dedication Capital, LLC (“Dedication Capital”) and Steven F. Mayer (“your”), this letter agreement will confirm our agreement to amend and modify the Consulting Agreement as follows:

The Base Consulting Fee set forth on Schedule 2 to the Consulting Agreement shall be amended to provide that the Base Consulting Fee payable for the period after March 31, 2026 through October 31, 2026 shall be $175,000 in the aggregate (or $25,000 per month).

The Annual Incentive set forth on Schedule 2 to the Consulting Agreement shall be amended to provide that (a) the minimum amount payable with respect to the cash incentive award for the Company’s fiscal year ended June 30, 2026, shall be reduced from $265,625 to $132,812.50, and (b) the minimum amount payable with respect to the mid-year cash incentive award for the Company’s fiscal quarter ended September 30, 2026 shall be reduced from $109,375 to $54,688.

The time-based vesting component of each of the restricted stock awards (eg, the language “subject to your continued service to the Company hereunder through the vesting date”) shall be deemed satisfied effective immediately upon execution and delivery of this letter agreement (a) as for 916,336 shares of the Initial Restricted Shares (as defined in the Consulting Agreement) (consisting of 354,609 shares under the 2016 equity plan and 561,727 shares under the 2026 equity plan), which shall be deemed fully vested as of the date of this letter agreement, and (b) as for 100% of the PSAs (as defined in the Consulting Agreement), which will continue to be subject to achievement of the stock prices provided in Schedule 2 to the Consulting Agreement, but Dedication Capital shall be deemed to have continued service to the Company through the vesting date. For the avoidance of doubt, the remaining Initial Restricted Shares equal to 333,004 shares shall vest as of October 31, 2026 in accordance with the applicable 2016 and 2026 equity plan documents.

- 1 -

The End Date (as defined in the Consulting Agreement) is hereby amended to be October 31, 2026.

This letter agreement shall prevail over any contradictory provisions of the Consulting Agreement. All other terms and conditions of the Consulting Agreement shall remain unchanged and are hereby ratified and confirmed.

If the foregoing is in accordance with your understanding, please confirm by signing where indicated below, whereupon this letter agreement shall constitute a binding agreement between the parties as of the date first above written.

Very truly yours,

ACCURAY INCORPORATED

By: /s/ Stephen R. La Neve

Name: Stephen R. La Neve

Title: CEO

Confirmed:

DEDICATION CAPITAL, LLC

By: /s/ Steven F. Mayer

Name: Steven F. Mayer

Title: Chief Executive Officer

STEVEN F. MAYER

By: /s/ Steven F. Mayer

Name: Steven F. Mayer

- 2 -

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