Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences, Inc. (NYSE:RCUS) announced the grant of equity awards to seven new employees, totaling 20,450 stock options at an exercise price of $30.01 per share, based on the February 23, 2022 closing price. Additionally, 10,225 restricted stock units were awarded. The grants fall under the 2020 Inducement Plan approved by the Board of Directors in January 2020, complying with NYSE regulations.

Arcus is committed to developing innovative cancer therapies and has advanced multiple investigational medicines into clinical studies.

Positive

• Granting of stock options and restricted stock units could attract and retain talent.
• Continued focus on innovative cancer therapies aligns with growth potential in the biopharmaceutical sector.

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 seven new employees options to purchase a total of 20,450 shares of the Company’s common stock at an exercise price per share of $30.01, which was the closing price on February 23, 2022, and restricted stock units to acquire a total of 10,225 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.

Source: Arcus Biosciences

View source version on businesswire.com: https://www.businesswire.com/news/home/20220224005461/en/

Investor and Media Inquiries:

Holli Kolkey

VP of Corporate Communications

(650) 922-1269

hkolkey@arcusbio.com

 

Source: Arcus Biosciences, Inc.

FAQ

What were the stock options granted by Arcus Biosciences on February 23, 2022?

Arcus Biosciences granted options to purchase 20,450 shares at an exercise price of $30.01.

How many restricted stock units were awarded by Arcus Biosciences?

Arcus awarded a total of 10,225 restricted stock units.

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

The plan aims to incentivize and retain employees by granting stock options and restricted stock units.

How does the grant of equity awards affect Arcus Biosciences' stock?

The granting can potentially strengthen employee retention, which may positively influence company performance and stock value.