Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences (NYSE:RCUS) announced that its Compensation Committee granted equity awards to four new employees. The grants include options to purchase 14,100 shares of common stock at an exercise price of $17.85 per share, which was the closing price on November 8, 2024. Additionally, the employees received restricted stock units to acquire 7,050 shares. These equity awards were granted under the Company's 2020 Inducement Plan, approved by the Board of Directors in January 2020 under NYSE Listed Company Manual Rule 303A.08's 'inducement exception'.

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 four new employees options to purchase a total of 14,100 shares of the Company’s common stock at an exercise price per share of $17.85, which was the closing price on November 8, 2024, and restricted stock units to acquire a total of 7,050 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 collaborators, 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 expedited the development of multiple investigational medicines into clinical studies, including new combination approaches that target TIGIT, PD-1, HIF-2a, CD73, dual A2a/A2b receptor, CD39 and AXL. For more information about Arcus Biosciences’ clinical and preclinical programs, please visit www.arcusbio.com.

Inducement PR

Source: Arcus Biosciences

View source version on businesswire.com: https://www.businesswire.com/news/home/20241112122759/en/

Investor Inquiries:

Pia Eaves

VP of Investor Relations & Strategy

(617) 459-2006

peaves@arcusbio.com

Media Inquiries:

Holli Kolkey

VP of Corporate Communications

(650) 922-1269

hkolkey@arcusbio.com

Source: Arcus Biosciences

FAQ

How many shares were granted in Arcus Biosciences (RCUS) November 2024 inducement grants?

Arcus Biosciences granted options to purchase 14,100 shares and restricted stock units for 7,050 shares to four new employees.

What was the exercise price for RCUS stock options granted on November 8, 2024?

The exercise price for the stock options was $17.85 per share, which was the closing price on November 8, 2024.

Under which plan were the RCUS November 2024 equity awards granted?

The equity awards were granted under Arcus Biosciences' 2020 Inducement Plan, approved under NYSE Listed Company Manual Rule 303A.08's inducement exception.