Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences, Inc. granted new employees options to purchase 17,600 shares of common stock and restricted stock units for 8,800 shares. The exercise price per share was $19.53, based on the closing price on February 26, 2024.

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 17,600 shares of the Company’s common stock at an exercise price per share of $19.53, which was the closing price on February 26, 2024, and restricted stock units to acquire a total of 8,800 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 expedited the development of multiple investigational medicines into clinical studies, including new combination approaches that target TIGIT, PD-1, the adenosine axis (CD73, dual A2a/A2b receptor and CD39), AXL and HIF-2a. For more information about Arcus Biosciences’ clinical and pre-clinical programs, please visit www.arcusbio.com or follow us on X.

Source: Arcus Biosciences

View source version on businesswire.com: https://www.businesswire.com/news/home/20240227924489/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 of common stock were granted to new employees by Arcus Biosciences, Inc.?

Arcus Biosciences, Inc. granted new employees options to purchase a total of 17,600 shares of the Company’s common stock.

What was the exercise price per share for the granted stock by Arcus Biosciences, Inc.?

The exercise price per share for the granted stock by Arcus Biosciences, Inc. was $19.53, based on the closing price on February 26, 2024.

Under which plan were the equity awards granted by Arcus Biosciences, Inc.?

The equity awards were granted pursuant to the Company’s 2020 Inducement Plan, approved by the Company’s Board of Directors in January 2020.