Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences, Inc. announced the grant of employment inducement options and restricted stock units to new employees. The total grant includes 141,100 shares of common stock options and 70,555 restricted stock units. The awards were issued under the Company's 2020 Inducement Plan, approved by the Board of Directors in January 2020.

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 17 new employees options to purchase a total of 141,100 shares of the Company’s common stock at an exercise price per share of $15.26, which was the closing price on May 8, 2024, and restricted stock units to acquire a total of 70,555 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 collaborators, 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 expedited the development of multiple investigational medicines into clinical studies, including new combination approaches that target TIGIT, PD-1, the adenosine axis (CD73 and dual A2a/A2b receptor), HIF-2a, CD39 and AXL. 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/20240509970924/en/

Investor Inquiries:

Pia Eaves

VP of Investor Relations & Strategy

(617) 459-2006

peaves@arcusbio.com

Media Inquiries:

Holli Kolkey

VP of Corporate Communications

(650) 922-1269

hkolkey@arcusbio.com

Source: Arcus Biosciences

FAQ

How many new employees were granted options and restricted stock units by Arcus Biosciences, Inc.?

Arcus Biosciences, Inc. granted 17 new employees options to purchase 141,100 shares of common stock and 70,555 restricted stock units.

What was the exercise price per share for the stock options granted by Arcus Biosciences, Inc.?

The exercise price per share for the stock options granted by Arcus Biosciences, Inc. was $15.26, based on the closing price on May 8, 2024.

Under which plan were the equity awards granted by Arcus Biosciences, Inc.?

The equity awards were granted under the Company's 2020 Inducement Plan, approved by the Board of Directors in January 2020.