Coherus BioSciences Announces New Employment Inducement Grants

Rhea-AI Summary

Coherus BioSciences, Inc. (Nasdaq: CHRS) granted options to purchase 60,000 shares of common stock to three newly hired non-officer employees, effective January 21, 2021. The options have an exercise price of $17.99, equal to the closing trading price on the grant date. This action falls under the Coherus 2016 Employment Commencement Incentive Plan, aimed at attracting new talent to the company. Coherus is committed to providing high-quality therapeutics and significant healthcare savings.

Positive

• Granting stock options to attract new employees enhances talent acquisition.

Negative

• None.

REDWOOD CITY, Calif., Jan. 22, 2021 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced that effective January 21, 2021, the compensation committee of the Company’s board of directors granted options to purchase an aggregate of 60,000 shares of the common stock of the Company to 3 newly hired non-officer employees, with a per share exercise price of $17.99, the closing trading price on the grant date.

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, Inc.

Coherus is a leading commercial-stage biosimilar company dedicated to expanding access to high-quality therapeutics that can have a major impact on patients’ lives and to delivering significant savings to the health care system. For additional information, please visit www.coherus.com.

Contact

McDavid Stilwell
EVP, Corporate Development, IR and Financial Strategy
Coherus BioSciences, Inc.
mstilwell@coherus.com
+1 (650) 395-0152

FAQ

What stock options were granted by Coherus BioSciences (CHRS) on January 21, 2021?

Coherus BioSciences granted options to purchase 60,000 shares of common stock at an exercise price of $17.99.

Why did Coherus BioSciences grant stock options to new employees?

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

What is the significance of the exercise price set by Coherus BioSciences?

The exercise price of $17.99 reflects the company's closing trading price on the grant date.