Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences grants equity awards to new employees

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 34,300 shares of the Company’s common stock at an exercise price per share of $16.41, which was the closing price on October 9, 2023, and restricted stock units to acquire a total of 17,150 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/20231010962596/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 announced the granting of equity awards to new employees.

How many shares were granted?

A total of 34,300 shares of the Company's common stock were granted as options, and 17,150 shares of the Company's common stock were granted as restricted stock units.

What is the exercise price per share?

The exercise price per share is $16.41, which was the closing price on October 9, 2023.

What is the purpose of the equity awards?

The equity awards were granted to new employees as part of the Company's 2020 Inducement Plan.