Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences, Inc. (NYSE:RCUS) announced the granting of stock options and restricted stock units to 14 new employees. A total of 61,000 stock options at an exercise price of $33.03 per share and 30,500 restricted stock units were granted. These awards are part of the company's 2020 Inducement Plan approved by the Board of Directors in January 2020. Founded in 2015, Arcus focuses on developing innovative therapies for cancer treatment, with an emphasis on combination approaches targeting various biological pathways.

Positive

• Granting of 61,000 stock options and 30,500 restricted stock units may enhance employee retention.
• The issuance aligns with the company's strategy to attract talent and incentivize performance.

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 fourteen new employees options to purchase a total of 61,000 shares of the Company’s common stock at an exercise price per share of $33.03 which was the closing price on March 8, 2022, and restricted stock units to acquire a total of 30,500 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/20220309005660/en/

Investor and Media Inquiries:

Holli Kolkey

VP of Corporate Communications

(650) 922-1269

hkolkey@arcusbio.com

Source: Arcus Biosciences

FAQ

What recent employee stock options were issued by RCUS?

Arcus Biosciences granted 61,000 stock options and 30,500 restricted stock units to fourteen new employees.

What was the exercise price for the stock options given to RCUS employees?

The exercise price for the stock options was $33.03 per share.

What is the significance of the 2020 Inducement Plan for Arcus Biosciences?

The 2020 Inducement Plan allows the company to grant equity awards to attract and retain employees.

When were the stock options and restricted stock units awarded to RCUS employees?

The stock options and restricted stock units were announced on March 8, 2022.

How does Arcus Biosciences aim to develop its cancer therapies?

Arcus focuses on creating differentiated molecules and combination therapies targeting well-characterized biological pathways.