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 eight new employees. A total of 31,600 shares were allocated at an exercise price of $20.68, based on the closing price on February 8, 2023. Additionally, 15,800 shares in restricted stock units were granted. These equity awards were issued under the Company’s 2020 Inducement Plan, approved in January 2020. This move aims to enhance recruitment and retention of talent in their ongoing efforts to develop innovative cancer therapies.

Positive

• Attraction of talented employees with stock options.
• Retention incentives through restricted stock units.

Negative

• None.

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 eight new employees options to purchase a total of 31,600 shares of the Company’s common stock at an exercise price per share of $20.68, which was the closing price on February 8, 2023, and restricted stock units to acquire a total of 15,800 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 advanced of six investigational medicines into clinical studies, including new combination approaches that target TIGIT, PD-1, the adenosine axis (CD73 A2a/A2b receptors) and HIF-2α. 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/20230209005208/en/

Investor Inquiries:

Pia Banerjee

Head of Investor Relations & Strategy

(617) 459-2006

pbanerjee@arcusbio.com

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 on February 8, 2023?

Arcus Biosciences granted options to purchase 31,600 shares at an exercise price of $20.68.

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

A total of 15,800 restricted stock units were granted.

What is the purpose of the stock options granted by RCUS?

The stock options aim to attract and retain employees as part of the company's talent strategy.

When was the 2020 Inducement Plan approved for Arcus Biosciences?

The 2020 Inducement Plan was approved in January 2020.