Coherus BioSciences Announces New Employment Inducement Grants

Rhea-AI Summary

Coherus BioSciences, Inc. (CHRS) announced the granting of stock options to 16 new employees as of June 16, 2022. A total of 409,000 shares were made available, with a per-share exercise price of $5.86, the closing price on the grant date. The options include 200,000 shares for a Chief level executive and 45,000 shares for a Vice President, while 14 non-officer employees received a combined total of 164,000 shares. This initiative is part of the 2016 Employment Commencement Incentive Plan aimed at attracting new talent.

Positive

• Granting stock options to attract and incentivize new talent.
• Total of 409,000 shares granted, indicating company growth.

Negative

• None.

REDWOOD CITY, Calif., June 22, 2022 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced that effective June 16, 2022, the compensation committee of the Company’s board of directors granted options to purchase an aggregate of 409,000 shares of the common stock of the Company to 16 newly hired employees with a per share exercise price of $5.86, the closing trading price on the grant date. One newly-hired Chief level executive was granted options to purchase 200,000 shares and one Vice President was granted options to purchase 45,000 shares. 14 non-officer employees were granted options to purchase an aggregate of 164,000 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.

FAQ

What stock options did Coherus BioSciences grant on June 16, 2022?

On June 16, 2022, Coherus BioSciences granted options to purchase 409,000 shares of common stock to 16 new employees.

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

The exercise price for the stock options was set at $5.86, the closing trading price on the grant date.

Who received the largest stock option grants at Coherus BioSciences?

The largest stock option grant was 200,000 shares to a newly hired Chief level executive.

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

The plan aims to induce new employees to join Coherus BioSciences by offering equity grants.