Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences, Inc. (NYSE:RCUS) announced the granting of options and restricted stock units to 14 new employees, totaling 35,200 shares at an exercise price of $26.15, the closing price on October 10, 2022. Additionally, 17,600 shares were awarded as restricted stock units. This award is part of the company’s 2020 Inducement Plan, which complies with NYSE regulations. Arcus focuses on developing innovative cancer therapies and has advanced six investigational medicines to clinical studies.

Positive

• Granting of stock options may enhance employee motivation and retention.
• Advancement of research into innovative cancer therapies could improve business prospects.

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 fourteen new employees options to purchase a total of 35,200 shares of the Company’s common stock at an exercise price per share of $26.15, which was the closing price on October 10, 2022, and restricted stock units to acquire a total of 17,600 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/20221011005457/en/

Investor and Media Inquiries:

Holli Kolkey

VP of Corporate Communications

(650) 922-1269

hkolkey@arcusbio.com

Source: Arcus Biosciences

FAQ

What options were granted to new employees at Arcus Biosciences?

Arcus Biosciences granted options to purchase 35,200 shares at an exercise price of $26.15 to 14 new employees.

When was the closing price for the stock options granted by Arcus Biosciences?

The closing price for the stock options granted was $26.15 on October 10, 2022.

What is the purpose of the 2020 Inducement Plan by Arcus Biosciences?

The 2020 Inducement Plan is designed to grant equity awards to attract and retain talent at Arcus Biosciences.

What research areas is Arcus Biosciences focusing on?

Arcus Biosciences focuses on developing differentiated molecules and combination therapies for cancer treatment.