Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences (NYSE:RCUS), a clinical-stage biopharmaceutical company focused on cancer therapies, has announced new employment inducement grants. The Compensation Committee of the company's Board of Directors has awarded four new employees with:

• Options to purchase a total of 27,800 shares of common stock at an exercise price of $16.31 per share
• Restricted stock units to acquire a total of 13,900 shares of common stock

These equity awards were granted under Arcus Biosciences' 2020 Inducement Plan, approved by the Board in January 2020 under the NYSE Listed Company Manual Rule 303A.08 'inducement exception'.

Positive

• Arcus Biosciences is attracting new talent with equity incentives
• The company is utilizing its 2020 Inducement Plan to offer competitive compensation packages

Negative

• None.

HAYWARD, Calif.--(BUSINESS WIRE)-- Arcus Biosciences, Inc. (NYSE:RCUS), a clinical-stage, global biopharmaceutical company focused on developing differentiated molecules and combination therapies for people with cancer, today announced that the Compensation Committee of the Company’s Board of Directors granted four new employees options to purchase a total of 27,800 shares of the Company’s common stock at an exercise price per share of $16.31, which was the closing price on September 9, 2024, and restricted stock units to acquire a total of 13,900 shares of the Company’s common stock. The equity awards were granted pursuant to the Company’s 2020 Inducement Plan, which was approved by the Company’s Board of Directors in January 2020 pursuant to the “inducement exception” under NYSE Listed Company Manual Rule 303A.08.

About Arcus Biosciences

Arcus Biosciences is a clinical-stage, global biopharmaceutical company developing differentiated molecules and combination medicines for people with cancer. In partnership with industry collaborators, patients and physicians around the world, Arcus is expediting the development of first- or best-in-class medicines against well-characterized biological targets and pathways and studying novel, biology-driven combinations that have the potential to help people with cancer live longer. Founded in 2015, the company has expedited the development of multiple investigational medicines into clinical studies, including new combination approaches that target TIGIT, PD-1, the adenosine axis (CD73 and dual A2a/A2b receptor), HIF-2a, CD39, and AXL. For more information about Arcus Biosciences’ clinical and preclinical programs, please visit www.arcusbio.com.

Inducement PR

Source: Arcus Biosciences

View source version on businesswire.com: https://www.businesswire.com/news/home/20240910226069/en/

Investor Inquiries:

Pia Eaves

VP of Investor Relations & Strategy

(617) 459-2006

peaves@arcusbio.com

Media Inquiries:

Holli Kolkey

VP of Corporate Communications

(650) 922-1269

hkolkey@arcusbio.com

Source: Arcus Biosciences

FAQ

What type of equity awards did Arcus Biosciences (RCUS) grant to new employees?

Arcus Biosciences granted stock options and restricted stock units to four new employees. The options allow purchase of 27,800 shares at $16.31 per share, and the RSUs are for 13,900 shares of common stock.

What was the exercise price for the stock options granted by Arcus Biosciences (RCUS) on September 9, 2024?

The exercise price for the stock options granted by Arcus Biosciences was $16.31 per share, which was the closing price on September 9, 2024.

Under which plan were the equity awards granted by Arcus Biosciences (RCUS)?

The equity awards were granted under Arcus Biosciences' 2020 Inducement Plan, which was approved by the company's Board of Directors in January 2020.

What NYSE rule did Arcus Biosciences (RCUS) use for granting these equity awards?

Arcus Biosciences used the 'inducement exception' under NYSE Listed Company Manual Rule 303A.08 to grant these equity awards.