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 ten new employees. The options allow the purchase of 44,300 shares at an exercise price of $22.02, the closing price on January 23, 2023. Additionally, 22,150 shares in restricted stock units were granted. These equity awards fall under the Company’s 2020 Inducement Plan, approved in January 2020. Arcus, founded in 2015, focuses on developing innovative cancer therapies, having advanced six investigational medicines into clinical studies targeting various cancer-related pathways.

Positive

• Granting of options and restricted stock units may attract and retain talent, potentially boosting company performance.
• Equity awards could align employee interests with shareholder value.

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 ten new employees options to purchase a total of 44,300 shares of the Company’s common stock at an exercise price per share of $22.02, which was the closing price on January 23, 2023, and restricted stock units to acquire a total of 22,150 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/20230124005478/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 granted by Arcus Biosciences on January 24, 2023?

On January 24, 2023, Arcus Biosciences granted options to purchase 44,300 shares at an exercise price of $22.02.

How many restricted stock units were granted by Arcus Biosciences?

Arcus Biosciences granted a total of 22,150 restricted stock units to new employees.

What is Arcus Biosciences' 2020 Inducement Plan?

The 2020 Inducement Plan is a compensation program approved by Arcus Biosciences' Board of Directors to incentivize new employees through equity awards.

When was the closing stock price of $22.02 for Arcus Biosciences recorded?

The closing stock price of $22.02 for Arcus Biosciences was recorded on January 23, 2023.

What is the focus of Arcus Biosciences?

Arcus Biosciences is focused on developing differentiated cancer therapies and has advanced six investigational medicines into clinical studies.