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 64,500 shares of common stock to eight newly hired employees. The exercise price is $3.54 per share, matching the closing trading price on the grant date.

Negative

• None.

REDWOOD CITY, Calif., Oct. 24, 2023 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced that effective October 20, 2023, the compensation committee of the Company’s board of directors granted options to purchase an aggregate of 64,500 shares of the common stock of the Company to eight newly hired employees with a per share exercise price of $3.54, 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.

Coherus BioSciences Contact Information:

IR Contact
Jodi Sievers
Coherus BioSciences, Inc.
IR@coherus.com

FAQ

What is the news about?

The news is about Coherus BioSciences granting options to newly hired employees.

How many shares were granted?

64,500 shares were granted to eight newly hired employees.

What is the exercise price?

The exercise price is $3.54 per share.

When were the options granted?

The options were granted on October 20, 2023.

What is the purpose of the options grant?

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