Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences (NYSE:RCUS) announced the granting of equity awards to eleven new employees, totaling options to purchase 30,950 shares at an exercise price of $32.98, the closing price on March 23, 2022. Additionally, restricted stock units were awarded for 15,475 shares. These grants were made under the 2020 Inducement Plan approved by the Board of Directors in January 2020. Arcus is focused on developing innovative cancer therapies, including six investigational medicines targeting various pathways.

Positive

• Granted options to purchase 30,950 shares, potentially incentivizing employee performance.
• Award of 15,475 restricted stock units strengthens employee retention.

Negative

• Options priced at $32.98 may indicate limited stock price appreciation potential if not aligned with market conditions.

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 eleven new employees options to purchase a total of 30,950 shares of the Company’s common stock at an exercise price per share of $32.98, which was the closing price on March 23, 2022, and restricted stock units to acquire a total of 15,475 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/20220324005389/en/

Investor and Media Inquiries:

Holli Kolkey

VP of Corporate Communications

(650) 922-1269

hkolkey@arcusbio.com

Source: Arcus Biosciences, Inc.

FAQ

What recent equity awards did Arcus Biosciences grant?

Arcus Biosciences granted options for 30,950 shares and restricted stock units for 15,475 shares.

What is the exercise price for the shares granted to employees of Arcus Biosciences?

The exercise price for the shares is $32.98.

When did Arcus Biosciences approve its 2020 Inducement Plan?

The 2020 Inducement Plan was approved by the Board of Directors in January 2020.

How many total shares did Arcus Biosciences award in recent equity grants?

In total, Arcus awarded options for 30,950 shares and restricted stock units for 15,475 shares.

What is the focus of Arcus Biosciences as a company?

Arcus Biosciences is focused on developing best-in-class cancer therapies.