Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences, Inc. (NYSE:RCUS) has granted stock options to fifteen new employees, allowing them to purchase 49,650 shares at an exercise price of $19.08, the closing price on May 23, 2022. Additionally, restricted stock units were awarded for 21,725 shares. These equity awards are in line with the 2020 Inducement Plan approved by the Board of Directors in January 2020. Arcus is dedicated to developing innovative cancer therapies, emphasizing the advancement of first- or best-in-class medicines targeting various cancer-related biology and pathways.

Positive

• Equity awards for employee retention potentially enhance workforce stability.
• Company's focus on developing differentiated cancer therapies indicates strong market positioning.

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 fifteen new employees options to purchase a total of 49,650 shares of the Company’s common stock at an exercise price per share of $19.08, which was the closing price on May 23, 2022, and restricted stock units to acquire a total of 21,725 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/20220524005477/en/

Investor and Media Inquiries:

Holli Kolkey

VP of Corporate Communications

(650) 922-1269

hkolkey@arcusbio.com

Source: Arcus Biosciences

FAQ

What stock options were granted by Arcus Biosciences on May 24, 2022?

Arcus Biosciences granted options to purchase 49,650 shares at $19.08 and restricted stock units for 21,725 shares.

What is the exercise price for the stock options granted to Arcus employees?

The exercise price for the stock options is $19.08, which was the closing price on May 23, 2022.

What does the 2020 Inducement Plan entail for Arcus Biosciences?

The 2020 Inducement Plan, approved in January 2020, allows for grants of equity awards to attract and retain employees.

How does Arcus Biosciences plan to develop its cancer therapies?

Arcus focuses on differentiated molecules and combination medicines targeting well-characterized biology and pathways related to cancer.

When was the equity award announcement made by Arcus Biosciences?

The equity award announcement was made on May 24, 2022.