Coherus BioSciences Announces New Employment Inducement Grants

Rhea-AI Summary

Coherus BioSciences (NASDAQ: CHRS) announced on April 5, 2022, that it granted stock options for 461,000 shares to newly hired employees as of March 31, 2022. These options have an exercise price of $12.91, aligned with the closing price on the grant date. A Chief level executive received options for 200,000 shares and 50,000 restricted stock units, while 18 non-officer employees were awarded options for a total of 261,000 shares. This move aims to attract new talent under the 2016 Employment Commencement Incentive Plan approved by the Company’s board.

Positive

• The issuance of stock options may enhance employee retention and incentivize new talent.
• Granting options at the current market price can align employee interests with shareholder value.

Negative

• None.

REDWOOD CITY, Calif., April 05, 2022 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced that effective March 31, 2022, the compensation committee of the Company’s board of directors granted options to purchase an aggregate of 461,000 shares of the common stock of the Company to newly hired employees with a per share exercise price of $12.91, the closing trading price on the grant date. One Chief level executive was granted options to purchase 200,000 shares as well as 50,000 restricted stock units. 18 non-officer employees were granted options to purchase an aggregate of 261,000 shares.

The stock options and RSUs were granted pursuant to the Coherus BioSciences, Inc. 2016 Employment Commencement Incentive Plan, which was approved by the Company’s board of directors in June 2016 under Rule 5635(c)(4) of the Nasdaq Global Select Market for equity grants to induce new employees to enter into employment with the Company.

Coherus BioSciences Contact Information:

IR Contact
McDavid Stilwell
Coherus BioSciences, Inc.
IR@coherus.com

FAQ

What stock options were granted by Coherus BioSciences on April 5, 2022?

Coherus BioSciences granted stock options to purchase 461,000 shares to newly hired employees, including 200,000 options to a Chief level executive.

What was the exercise price for Coherus BioSciences stock options?

The exercise price for the stock options was $12.91, the closing trading price on the grant date.

How many shares were awarded to non-officer employees by Coherus?

Non-officer employees were awarded options to purchase an aggregate of 261,000 shares.

When was the stock option grant effective for Coherus BioSciences?

The stock option grant was effective as of March 31, 2022.