Sanket Shah - Jul 15, 2023 Form 3 Insider Report for ViewRay, Inc. (VRAYQ)

Role: SVP, General Counsel
Signature: /s/ Sanket Shah
Stock symbol: VRAYQ
Transactions as of: Jul 15, 2023
Transactions value $: $0
Form type: 3
Date filed: 7/26/2023, 05:03 PM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	VRAYQ	Common Stock						66.7K	Jul 15, 2023	Direct	F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	VRAYQ	Stock Option (right to buy)							Jul 15, 2023	Common Stock	30K	$3.72	Direct	F1
holding	VRAYQ	Performance Units							Jul 15, 2023	Common Stock	31.8K	$0.00	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	25% of the shares subject to the option shall vest and become exercisable on the first anniversary after September 15, 2018 (the "Grant Date") and 1/36th of the shares shall vest and become exercisable each month after the first anniversary, September 15, 2019, such that 100% of the shares subject to the option will be vested on the fourth anniversary of the Grant Date, subject to the reporting person remaining a service provider through each vesting date.
F2	These performance share awards were issued at a 100% target and have a 3-year vest period and will vest in all or in part upon achievement of performance metrics. Any awards that have not been vested and released at the end of the 3-year period will be canceled.
F3	Represents 61,631 shares of Restricted Stock Units (RSUs) and 5,028 shares purchased as part of the Employee Stock Purchase Plan (ESPP). The RSUs vest in three equal annual installments beginning on the first anniversary of the grant date. Mr. Shah has been granted the following: 3/2/2020 24,822 shares, 3/1/2021 17,167 shares, 3/1/2022 14,492 shares, and 3/1/2023 19,585 shares. The ESPP requires a one-year holding period after the purchase of the shares. Mr. Shah purchased the following shares as part of the ESPP: 4/1/2020 238 shares, 7/1/2020 609 shares, 1/4/2021 478 shares, 7/1/2021 540 shares, 1/3/2022 1,838 shares, and 7/1/2022 1,327 shares. As of 7/15/2023, 44,799 shares are sellable.