Coherus BioSciences Announces New Employment Inducement Grants

Rhea-AI Summary

Coherus BioSciences, Inc. granted options to purchase 170,000 shares of common stock to newly hired employees. The options have an exercise price of $2.59 per share, based on the closing trading price on the grant date. The grants were made under the 2016 Employment Commencement Incentive Plan.

REDWOOD CITY, Calif., Feb. 23, 2024 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced that effective February 20, 2024, the compensation committee of the Company’s board of directors granted options to purchase an aggregate of 170,000 shares of the common stock of the Company to three newly hired employees with a per share exercise price of $2.59, the closing trading price on the grant date. One Executive Vice President level executive was granted an option to purchase 150,000 shares; and two additional non-officer employees were granted options to purchase an aggregate of 20,000 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 Contact Information
Investors:
Jami Taylor, Head of Investor Relations
IR@coherus.com

FAQ

What is the total number of shares granted to the newly hired employees by Coherus BioSciences, Inc.?

Coherus BioSciences, Inc. granted options to purchase an aggregate of 170,000 shares of common stock to three newly hired employees.

What is the exercise price per share for the granted options by Coherus BioSciences, Inc.?

The exercise price per share for the granted options by Coherus BioSciences, Inc. is $2.59, based on the closing trading price on the grant date.

Under which plan were the stock options granted by Coherus BioSciences, Inc.?

The stock options were granted under the Coherus BioSciences, Inc. 2016 Employment Commencement Incentive Plan.