Coherus BioSciences Announces New Employment Inducement Grants

Rhea-AI Summary

Coherus BioSciences (CHRS) announced on December 16, 2021, that it granted stock options for 367,000 shares to new employees, with an exercise price of $17.06. The grants included 200,000 shares for a Chief level executive, 45,000 shares for a Vice President, and 122,000 shares for other non-officer employees. This compensation strategy is part of the 2016 Employment Commencement Incentive Plan, aimed at attracting new talent.

Coherus strives to enhance access to affordable medicines while delivering savings to the healthcare system.

Positive

• Attracts talent through stock options, aligning employee interests with shareholder value.
• The compensation plan is structured to incentivize new hires, promoting growth.

Negative

• None.

REDWOOD CITY, Calif., Dec. 16, 2021 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced that effective Dec. 13, 2021, the compensation committee of the Company’s board of directors granted options to purchase an aggregate of 367,000 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. One Chief level executive was granted options to purchase 200,000 shares; one Vice President level executive was granted options to purchase 45,000 shares; and eight additional non-officer employees were granted options to purchase an aggregate of 122,000 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.
IR@coherus.com

FAQ

What stock options did Coherus BioSciences grant on December 16, 2021?

Coherus BioSciences granted options to purchase 367,000 shares of common stock, priced at $17.06.

Who received the largest stock option grant at Coherus?

The largest grant was 200,000 shares to a Chief level executive.

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

The stock options are part of the 2016 Employment Commencement Incentive Plan to attract new employees.

How many shares were granted to non-officer employees at Coherus?

A total of 122,000 shares were granted to eight non-officer employees.

What is Coherus BioSciences' mission?

Coherus aims to increase access to cost-effective medicines and deliver savings to the healthcare system.