Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences, Inc. (NYSE:RCUS) announced that its Compensation Committee granted options for 35,050 shares and restricted stock units for 17,525 shares to 16 new employees. The exercise price is set at $23.62, reflecting the closing stock price on June 8, 2022. These grants were made under the company's 2020 Inducement Plan, approved in January 2020. The company focuses on developing innovative cancer therapies and has accelerated six investigational drugs into clinical trials since its founding in 2015.

Positive

• Equity awards totaling 52,575 shares granted to strengthen employee retention.
• Company continues to expand its workforce, indicating business growth.

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 sixteen new employees options to purchase a total of 35,050 shares of the Company’s common stock at an exercise price per share of $23.62, which was the closing price on June 8, 2022, and restricted stock units to acquire a total of 17,525 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/20220609005265/en/

Investor and Media Inquiries:

Holli Kolkey

VP of Corporate Communications

(650) 922-1269

hkolkey@arcusbio.com

Source: Arcus Biosciences

FAQ

What did Arcus Biosciences announce on June 8, 2022?

Arcus Biosciences announced the granting of stock options and restricted stock units to new employees.

How many shares were granted to new employees at Arcus Biosciences?

A total of 52,575 shares were granted to sixteen new employees.

What is the exercise price for the options granted by Arcus Biosciences?

The exercise price for the options is $23.62.

Under which plan were the equity awards granted at Arcus Biosciences?

The equity awards were granted under the 2020 Inducement Plan.

When was the 2020 Inducement Plan approved by Arcus Biosciences?

The 2020 Inducement Plan was approved in January 2020.