Coherus BioSciences Announces New Employment Inducement Grants

Rhea-AI Summary

Coherus BioSciences (CHRS) announced the grant of stock options to two newly hired executives, effective August 1, 2022. A total of 250,000 options were awarded, with an exercise price of $9.16 per share, matching the closing price on the grant date. The Executive Vice President received 150,000 options, while the Senior Vice President was granted 100,000. This incentive is part of Coherus' 2016 Employment Commencement Incentive Plan, which aims to attract new talent and was approved by the board of directors in June 2016.

REDWOOD CITY, Calif., Aug. 01, 2022 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced that effective August 1, 2022, the compensation committee of the Company’s board of directors granted options to purchase an aggregate of 250,000 shares of the common stock of the Company to two newly hired employees with a per share exercise price of $9.16, the closing trading price on the grant date. One newly-hired Executive Vice President was granted options to purchase 150,000 shares and one newly-hired Senior Vice President was granted options to purchase 100,000 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.

Coherus BioSciences Contact Information:

IR Contact
Marek Ciszewski
SVP, Investor Relations
Coherus BioSciences, Inc.
IR@coherus.com

FAQ

What stock options were granted by Coherus BioSciences on August 1, 2022?

On August 1, 2022, Coherus BioSciences granted options to purchase 250,000 shares of common stock, with 150,000 options awarded to an Executive Vice President and 100,000 options to a Senior Vice President.

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

The exercise price for the stock options granted by Coherus BioSciences is $9.16 per share, reflecting the closing trading price on the grant date.

What is the purpose of the 2016 Employment Commencement Incentive Plan?

The 2016 Employment Commencement Incentive Plan is designed to incentivize new employees to join Coherus BioSciences and was approved by the board of directors in June 2016.