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Arcus Biosciences Announces New Employment Inducement Grants
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
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Rhea-AI Summary
Arcus Biosciences (NYSE:RCUS) has granted stock options to three new employees, totaling 7,000 shares at an exercise price of $18.66, the closing price on February 23, 2023. Additionally, restricted stock units were awarded for 3,500 shares. These grants fall under the 2020 Inducement Plan approved in January 2020 and adhere to NYSE rules. Arcus is a clinical-stage biopharmaceutical firm focused on innovative cancer therapies, developing six investigational medicines targeting various biological pathways.
Positive
Total of 7,000 stock options awarded to new employees.
Restricted stock units for an additional 3,500 shares granted.
Equity awards align with incentive strategies to attract talent.
Negative
Equity grants may dilute existing shareholder value.
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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 three new employees options to purchase a total of 7,000 shares of the Company’s common stock at an exercise price per share of $18.66, which was the closing price on February 23, 2023, and restricted stock units to acquire a total of 3,500 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 of six 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.
