Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences (NYSE:RCUS) has announced the granting of equity awards to 13 new employees. The awards include options to purchase 28,900 shares at an exercise price of $33.70 per share and restricted stock units for a total of 14,450 shares. This action is part of the company's 2020 Inducement Plan, approved in January 2020. Arcus focuses on developing innovative cancer therapies, with six investigational medicines currently in clinical studies targeting key biological pathways.

Positive

• Equity awards granted to 13 new employees, potentially enhancing workforce motivation.
• Options to purchase 28,900 shares at a competitive exercise price of $33.70.
• Involvement in the 2020 Inducement Plan may attract top talent.

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 thirteen new employees options to purchase a total of 28,900 shares of the Company’s common stock at an exercise price per share of $33.70, which was the closing price on April 8, 2022, and restricted stock units to acquire a total of 14,450 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/20220411005457/en/

Investor and Media Inquiries:

Holli Kolkey

VP of Corporate Communications

(650) 922-1269

hkolkey@arcusbio.com

Source: Arcus Biosciences, Inc.

FAQ

What equity awards were granted by Arcus Biosciences on April 8, 2022?

Arcus Biosciences granted options to purchase 28,900 shares at an exercise price of $33.70 and restricted stock units for 14,450 shares.

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

The 2020 Inducement Plan allows Arcus to attract and retain talent by providing equity awards to new employees.

How many shares were involved in the recent equity award by Arcus Biosciences?

The recent equity award granted options for 28,900 shares and restricted stock units for 14,450 shares.

Who approved the 2020 Inducement Plan for Arcus Biosciences?

The 2020 Inducement Plan was approved by Arcus Biosciences' Board of Directors in January 2020.