Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences, Inc. (NYSE:RCUS) announced the granting of stock options and restricted stock units to ten new employees, totaling 33,950 and 16,975 shares, respectively. The options were priced at $25.70, aligning with the closing price on September 8, 2022. This equity grant falls under the 2020 Inducement Plan, approved by the Board of Directors. Arcus is focused on developing innovative cancer therapies, with clinical studies underway for six investigational medicines targeting various biological pathways.

Positive

• Awarding stock options and restricted units may enhance employee retention and incentivize performance.
• Continued development of investigational medicines demonstrates the company's commitment to innovation in oncology.

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 33,950 shares of the Company’s common stock at an exercise price per share of $25.70, which was the closing price on September 8, 2022, and restricted stock units to acquire a total of 16,975 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/20220909005054/en/

Investor and Media Inquiries:

Holli Kolkey

VP of Corporate Communications

(650) 922-1269

hkolkey@arcusbio.com

Source: Arcus Biosciences

FAQ

What is the recent stock award announcement by Arcus Biosciences (RCUS)?

Arcus Biosciences announced the granting of stock options and restricted stock units, totaling 50,925 shares to ten new employees, at an exercise price of $25.70.

When were the stock options for Arcus Biosciences granted?

The stock options were granted recently, with an exercise price based on the closing price of September 8, 2022.

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

The 2020 Inducement Plan is designed to provide equity awards to attract and retain skilled employees under the inducement exception rule.

How does Arcus Biosciences plan to develop its cancer therapies?

Arcus Biosciences is developing best-in-class cancer therapies through partnerships and clinical studies of differentiated molecules.