Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences announced the grant of stock options and restricted stock units to five new employees. A total of 8,200 shares can be purchased at an exercise price of $31.00, the closing price on December 8, 2022. Additionally, 4,100 restricted stock units were granted. These awards are part of the company’s 2020 Inducement Plan, approved in January 2020. Arcus Biosciences focuses on developing innovative cancer therapies and has expedited six investigational medicines into clinical studies.

Positive

• Granting of stock options and restricted stock units indicates a commitment to attract talent.
• The stock options are linked to a favorable exercise price of $31.00.

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 five new employees options to purchase a total of 8,200 shares of the Company’s common stock at an exercise price per share of $31.00, which was the closing price on December 8, 2022, and restricted stock units to acquire a total of 4,100 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/20221209005091/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 for December 2022?

Arcus Biosciences granted options to purchase 8,200 shares at an exercise price of $31.00.

How many restricted stock units were issued by Arcus Biosciences?

A total of 4,100 restricted stock units were granted.

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

The 2020 Inducement Plan allows the company to issue equity awards to attract and retain talent.

When were the stock options granted to new employees at Arcus Biosciences?

The stock options were granted on December 8, 2022.

What is the current stock ticker symbol for Arcus Biosciences?

The stock ticker symbol for Arcus Biosciences is RCUS.