Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences, Inc. (NYSE:RCUS) announces the granting of stock options and restricted stock units to nine new employees. A total of 22,100 options were provided at an exercise price of $27.35, reflecting the closing price on August 8, 2022. Additionally, 11,050 restricted stock units were awarded. These grants are in accordance with the Company’s 2020 Inducement Plan, approved in January 2020, under NYSE Rule 303A.08. Arcus is focused on developing innovative cancer therapies and has advanced six investigational medicines into clinical studies.

Positive

• Granting of 22,100 stock options to new employees, indicating potential growth and expansion.
• Equity awards align with strategic goals, potentially attracting and retaining talent in the biopharmaceutical sector.

Negative

• None.

HAYWARD, Calif.--(BUSINESS WIRE)-- Arcus Biosciences, Inc. (NYSE:RCUS), an oncology-focused biopharmaceutical company working to create best-in-class cancer therapies, today announced that the Compensation Committee of the Company’s Board of Directors granted nine new employees options to purchase a total of 22,100 shares of the Company’s common stock at an exercise price per share of $27.35, which was the closing price on August 8, 2022, and restricted stock units to acquire a total of 11,050 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 partners, patients and physicians around the world, Arcus is expediting the development of first- or best-in-class medicines against well characterized biology 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 six investigational medicines into clinical studies, including new combination approaches that target TIGIT, PD-1, the adenosine axis (CD73 and dual A2a/A2b) and most recently, HIF-2alfa. For more information about Arcus Biosciences’ clinical and pre-clinical programs, please visit www.arcusbio.com or follow us on Twitter.

Inducement PR

Source: Arcus Biosciences

View source version on businesswire.com: https://www.businesswire.com/news/home/20220809005303/en/

Investor and Media Inquiries:

Holli Kolkey

VP of Corporate Communications

(650) 922-1269

hkolkey@arcusbio.com

Source: Arcus Biosciences

FAQ

What recent equity awards were announced by Arcus Biosciences (RCUS)?

Arcus Biosciences announced the granting of 22,100 stock options and 11,050 restricted stock units to nine new employees.

What is the exercise price of the stock options granted by Arcus Biosciences?

The exercise price of the stock options is $27.35.

When were the equity awards granted to Arcus Biosciences employees?

The equity awards were granted pursuant to a plan approved in January 2020.

What is the purpose of the 2020 Inducement Plan from Arcus Biosciences?

The 2020 Inducement Plan aims to attract and retain talented employees in the competitive biopharmaceutical industry.

How many investigational medicines is Arcus Biosciences developing?

Arcus Biosciences has advanced six investigational medicines into clinical studies.