Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences grants equity awards to new employees. The Compensation Committee granted options to purchase 20,600 shares of common stock at $21.88 per share, and restricted stock units to acquire 10,300 shares.

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 eight new employees options to purchase a total of 20,600 shares of the Company’s common stock at an exercise price per share of $21.88, which was the closing price on July 10, 2023, and restricted stock units to acquire a total of 10,300 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 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 advanced multiple investigational medicines into clinical studies, including new combination approaches that target TIGIT, PD-1, the adenosine axis (CD73 A2a/A2b receptors) and HIF-2α. 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/20230711392019/en/

Investor Inquiries:

Pia Banerjee

Head of Investor Relations & Strategy

(617) 459-2006

pbanerjee@arcusbio.com

Media Inquiries:

Holli Kolkey

VP of Corporate Communications

(650) 922-1269

hkolkey@arcusbio.com

Source: Arcus Biosciences

FAQ

What is the news about Arcus Biosciences?

Arcus Biosciences announced the grant of equity awards to new employees.

How many shares of common stock were granted?

A total of 20,600 shares of common stock were granted.

What is the exercise price per share for the options?

The exercise price per share for the options is $21.88.

What type of equity awards were granted?

Options to purchase shares of common stock and restricted stock units were granted.

How many shares can be acquired through restricted stock units?

A total of 10,300 shares can be acquired through restricted stock units.

When were these equity awards granted?

The equity awards were granted in accordance with the Company's 2020 Inducement Plan, approved by the Board of Directors in January 2020.