Coherus BioSciences Announces New Employment Inducement Grants

Rhea-AI Summary

Coherus BioSciences, Inc. (Nasdaq: CHRS) announced on Sept. 24, 2021, that it granted options to purchase 229,500 shares of common stock to newly hired employees, effective Sept. 22, 2021. The options have an exercise price of $17.06, matching the closing trading price on the grant date. Among the recipients, a new Senior Vice President received options for 100,000 shares. These grants were made under the Coherus BioSciences 2016 Employment Commencement Incentive Plan, approved to attract new talent.

REDWOOD CITY, Calif., Sept. 24, 2021 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced that effective Sept. 22, 2021, the compensation committee of the Company’s board of directors granted options to purchase an aggregate of 229,500 shares of the common stock of the Company to newly hired employees with a per share exercise price of $17.06, the closing trading price on the grant date. A newly hired Senior Vice President was granted options for 100,000 shares; eight additional non-officer employees were granted options to purchase an aggregate of 129,500 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.

Coherus BioSciences Contact Information:

IR Contact
McDavid Stilwell
Coherus BioSciences, Inc.
IR@coherus.com

FAQ

What stock options were granted by Coherus BioSciences on Sept. 22, 2021?

Coherus BioSciences granted options to purchase 229,500 shares of common stock at an exercise price of $17.06.

Who received stock options from Coherus BioSciences?

A newly hired Senior Vice President received options for 100,000 shares, while eight additional non-officer employees received options for 129,500 shares.

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

The stock options were granted to induce new employees to join Coherus BioSciences under the 2016 Employment Commencement Incentive Plan.

What date was the stock option grant announced?

The stock options grant was announced on Sept. 24, 2021.