Coherus BioSciences Announces New Employment Inducement Grants

Rhea-AI Summary

Coherus BioSciences (CHRS) announced on April 27, 2022, the granting of stock options to 13 new employees totaling 240,000 shares. The options have an exercise price of $9.28, matching the closing trading price on that date. Among the granted options, two Vice Presidents received 45,000 shares each, while another received 50,000 shares. The remaining 100,000 shares were allocated to ten non-officer employees. This initiative is part of the 2016 Employment Commencement Incentive Plan to attract new talents to the company.

Positive

• Attraction of new talent through stock options.
• Strategies in place to incentivize employee performance.

Negative

• None.

REDWOOD CITY, Calif., May 03, 2022 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced that effective April 27, 2022, the compensation committee of the Company’s board of directors granted options to purchase an aggregate of 240,000 shares of the common stock of the Company to 13 newly hired employees with a per share exercise price of $9.28, the closing trading price on the grant date. Two newly hired Vice Presidents were each granted options to purchase 45,000 shares, and one newly hired Vice President was granted options to purchase 50,000 shares. Ten non-officer employees were granted options to purchase an aggregate of 100,000 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 is the significance of Coherus BioSciences' stock option grant on April 27, 2022?

The stock option grant aims to attract and retain new employees, enhancing Coherus' workforce.

How many stock options did Coherus BioSciences grant in total?

Coherus granted a total of 240,000 stock options to 13 newly hired employees.

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

The exercise price for the stock options was $9.28, matching the closing price on the grant date.

Who received the largest stock option grants at Coherus BioSciences?

Three Vice Presidents received the largest grants of 45,000 and 50,000 shares.

Under which plan were the stock options granted by Coherus?

The stock options were granted under the 2016 Employment Commencement Incentive Plan.