Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences (NYSE:RCUS) announced that its Compensation Committee granted options to purchase 38,850 shares and restricted stock units for 925 shares to six new employees. The exercise price is set at $31.75, equivalent to the closing price on January 24, 2022. The equity awards comply with the 2020 Inducement Plan approved by the Board of Directors in January 2020. Arcus Biosciences is focused on developing innovative cancer therapies and has advanced six investigational medicines into clinical studies.

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 six new employees options to purchase a total of 38,850 shares of the Company’s common stock at an exercise price per share of $31.75, which was the closing price on January 24, 2022, and restricted stock units to acquire a total of 925 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/20220125005568/en/

Investor and Media Inquiries:

Holli Kolkey

VP of Corporate Communications

(650) 922-1269

hkolkey@arcusbio.com

Source: Arcus Biosciences

FAQ

What equity awards were granted by Arcus Biosciences on January 25, 2022?

Arcus Biosciences granted options to purchase 38,850 shares and restricted stock units for 925 shares at an exercise price of $31.75.

What is the exercise price for the shares granted by Arcus Biosciences?

The exercise price for the shares is set at $31.75, which was the closing price on January 24, 2022.

What is the significance of the 2020 Inducement Plan for Arcus Biosciences?

The 2020 Inducement Plan allows the company to grant equity awards to new employees, as approved by the Board of Directors in January 2020.