Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences (NYSE:RCUS) announced the granting of stock options and restricted stock units to six new employees, totaling 64,050 shares at an exercise price of $30.30, equivalent to the closing price on February 8, 2022. Additionally, 2,025 restricted stock units were awarded. These grants were made under the Company’s 2020 Inducement Plan, approved in January 2020, complying with NYSE regulations. Founded in 2015, Arcus focuses on developing innovative cancer therapies, with six investigational medicines currently in clinical studies.

Positive

• New employee stock options and restricted units increase potential employee motivation and retention.
• Equity awards signify company growth and expansion by attracting new talent.

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 64,050 shares of the Company’s common stock at an exercise price per share of $30.30, which was the closing price on February 8, 2022, and restricted stock units to acquire a total of 2,025 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/20220209006169/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 issued by Arcus Biosciences on February 8, 2022?

Arcus Biosciences granted options to purchase 64,050 shares at an exercise price of $30.30 on February 8, 2022.

How many restricted stock units were awarded to new employees of Arcus Biosciences?

A total of 2,025 restricted stock units were awarded to new employees.

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

The 2020 Inducement Plan allows Arcus Biosciences to grant stock options and restricted stock units to new employees, helping attract talent.

When was the 2020 Inducement Plan approved for Arcus Biosciences?

The 2020 Inducement Plan was approved by the Board of Directors in January 2020.