Coherus BioSciences Announces New Employment Inducement Grants

Rhea-AI Summary

On April 30, 2021, Coherus BioSciences (CHRS) announced the grant of stock options to newly hired employees totaling 483,000 shares. The options have an exercise price of $14.76, equal to the closing stock price on the grant date, April 28, 2021. Notably, a new Executive Vice President received an option for 125,000 shares, while two Senior Vice Presidents each received 100,000 shares. This issuance aligns with the Coherus 2016 Employment Commencement Incentive Plan aimed at attracting talent.

Coherus focuses on providing accessible biopharmaceuticals to enhance patient care.

Positive

• Stock options granted to attract talent, indicating growth potential.
• The exercise price matches the market price, showing no dilution risk for current shareholders.

Negative

• None.

REDWOOD CITY, Calif., April 30, 2021 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced that effective April 28, 2021, the compensation committee of the Company’s board of directors granted options to purchase an aggregate of 483,000 shares of the common stock of the Company to newly hired employees with a per share exercise price of $14.76, the closing trading price on the grant date. A newly hired Executive Vice President was granted an option to buy 125,000 shares; two Senior Vice Presidents were each granted an option to buy 100,000 shares; a Vice President was granted an option to buy 50,000 shares; a Vice President was granted an option to buy 45,000 shares; eight additional non-officer employees were granted options to buy an aggregate of 63,000 shares.

The stock options 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.

About Coherus BioSciences
Coherus is a commercial stage biopharmaceutical company with the mission to increase access to cost-effective medicines that can have a major impact on patients’ lives and to deliver significant savings to the health care system. For additional information, please visit www.coherus.com.

FAQ

What was announced by Coherus BioSciences on April 30, 2021?

Coherus BioSciences announced the grant of stock options for 483,000 shares to newly hired employees.

What is the exercise price of the stock options granted by Coherus?

The exercise price for the stock options is $14.76, which is the closing stock price on the grant date.

Who received the most stock options in the Coherus announcement?

The newly hired Executive Vice President received an option to buy 125,000 shares.

What is the purpose of the stock options granted by Coherus?

The stock options are part of the 2016 Employment Commencement Incentive Plan to induce new employees to join the company.

How many shares were granted to the newly hired employees of Coherus?

A total of 483,000 shares were granted in stock options to newly hired employees.