Coherus BioSciences Announces New Employment Inducement Grants

Rhea-AI Summary

Coherus BioSciences grants options to newly hired employees

Positive

• Coherus BioSciences has granted options to purchase 187,000 shares of common stock to newly hired employees. The per share exercise price is $4.17, the closing trading price on the grant date. One Senior Vice President level executive was granted options to purchase 100,000 shares, while five additional non-officer employees were granted options to purchase a total of 87,000 shares.

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• None.

REDWOOD CITY, Calif., July 21, 2023 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced that effective July 20, 2023, the compensation committee of the Company’s board of directors granted options to purchase an aggregate of 187,000 shares of the common stock of the Company to newly hired employees with a per share exercise price of $4.17, the closing trading price on the grant date. One Senior Vice President level executive was granted options to purchase 100,000 shares; and five additional non-officer employees were granted options to purchase an aggregate of 87,000 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
Coherus BioSciences, Inc.
IR@coherus.com

FAQ

What did Coherus BioSciences announce?

Coherus BioSciences announced that they have granted options to purchase shares of common stock to newly hired employees.

How many shares were granted?

A total of 187,000 shares were granted.

What is the exercise price per share?

The exercise price per share is $4.17.

Who received the options?

One Senior Vice President level executive received options to purchase 100,000 shares, while five additional non-officer employees received options to purchase a total of 87,000 shares.

What is the purpose of the options?

The options were granted to induce new employees to enter into employment with the Company.