Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences, Inc. (NYSE:RCUS) announced that its Compensation Committee granted options to six employees for a total of 10,200 shares at an exercise price of $26.19, the closing price on July 25, 2022. Additionally, they received restricted stock units for 5,100 shares. These equity awards were issued under the company's 2020 Inducement Plan, approved in January 2020, compliant with NYSE Listed Company Manual Rule 303A.08. Arcus is focused on developing innovative cancer therapies, advancing six investigational medicines in clinical studies.

Positive

• New employee equity awards granted, potentially enhancing talent retention and motivation.
• Equity awards include options and restricted stock units, aligning employee interests with shareholder value.

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 six new employees options to purchase a total of 10,200 shares of the Company’s common stock at an exercise price per share of $26.19 which was the closing price on July 25, 2022, and restricted stock units to acquire a total of 5,100 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/20220726005328/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 July 25, 2022?

Arcus Biosciences granted options for 10,200 shares at $26.19 and restricted stock units for 5,100 shares.

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

The 2020 Inducement Plan allows the company to grant equity awards to attract and retain talent, promoting alignment with long-term company goals.

How many shares were included in the equity awards granted to Arcus employees?

The total equity awards granted amounted to 15,300 shares, including options and restricted stock units.

On which date was the closing price used for the exercise price of the options?

The exercise price of $26.19 was based on the closing price on July 25, 2022.

What is the ticker symbol for Arcus Biosciences?

The ticker symbol for Arcus Biosciences is RCUS.