Coherus BioSciences Announces New Employment Inducement Grants

Rhea-AI Summary

On August 27, 2021, Coherus BioSciences (Nasdaq: CHRS) announced the grant of stock options totaling 278,000 shares to newly hired employees, effective as of August 26, 2021. The options have an exercise price of $15.82 per share, matching the closing price on the grant date. Among the recipients, two Vice Presidents received options for 45,000 shares each, while an additional 188,000 shares were granted to fifteen non-officer employees. This grant is part of the 2016 Employment Commencement Incentive Plan approved by the board to attract new talent.

Positive

• Attracts new talent with stock options, potentially increasing employee commitment and performance.
• Options granted at a market price, aligning employee interests with shareholder value.

Negative

• No immediate financial impact from the grant, as it does not generate revenue or enhance current cash flow.
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REDWOOD CITY, Calif., Aug. 27, 2021 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced that effective Aug. 26, 2021, the compensation committee of the Company’s board of directors granted options to purchase an aggregate of 278,000 shares of the common stock of the Company to newly hired employees with a per share exercise price of $15.82, the closing trading price on the grant date. Two newly hired Vice Presidents were each granted options for 45,000 shares; fifteen additional non-officer employees were granted options to purchase an aggregate of 188,000 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.

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.
mstilwell@coherus.com

FAQ

What is the date of Coherus BioSciences' stock options grant?

The stock options grant was announced on August 27, 2021 and effective as of August 26, 2021.

How many shares were granted in Coherus BioSciences' recent stock options announcement?

A total of 278,000 shares were granted to newly hired employees.

What was the exercise price for the stock options granted by Coherus BioSciences?

The exercise price for the stock options was $15.82 per share.

Who received the stock options granted by Coherus BioSciences?

Two newly hired Vice Presidents received options for 45,000 shares each, along with fifteen non-officer employees who received options for 188,000 shares.

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

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