Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences (NYSE:RCUS) announced the grant of stock options and restricted stock units to eight new employees as part of its 2020 Inducement Plan. A total of 66,200 options were granted at an exercise price of $17.78, the closing price on March 8, 2023, along with 33,100 restricted stock units. This move aims to attract talent in the clinical-stage biopharmaceutical sector, focusing on innovative therapies for cancer treatment. Founded in 2015, Arcus is advancing six investigational drugs targeting various cancer pathways.

Positive

• Granting of 66,200 stock options and 33,100 restricted stock units to attract new talent.
• Exercise price aligns with market close, indicating strategic financial planning.

Negative

• None.

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 eight new employees options to purchase a total of 66,200 shares of the Company’s common stock at an exercise price per share of $17.78, which was the closing price on March 8, 2023 and restricted stock units to acquire a total of 33,100 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 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 advanced six investigational medicines into clinical studies, including new combination approaches that target TIGIT, PD-1, the adenosine axis (CD73 A2a/A2b receptors) and HIF-2α. 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/20230309005704/en/

Investor Inquiries:

Pia Banerjee

Head of Investor Relations & Strategy

(617) 459-2006

pbanerjee@arcusbio.com

Media Inquiries:

Holli Kolkey

VP of Corporate Communications

(650) 922-1269

hkolkey@arcusbio.com

Source: Arcus Biosciences

FAQ

What did Arcus Biosciences announce on March 9, 2023?

Arcus Biosciences announced the grant of stock options and restricted stock units to new employees as part of its 2020 Inducement Plan.

How many shares were granted to employees at Arcus Biosciences?

A total of 66,200 stock options and 33,100 restricted stock units were granted.

What was the exercise price for the stock options granted by Arcus Biosciences?

The exercise price for the stock options was $17.78, the closing price on March 8, 2023.

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

The 2020 Inducement Plan aims to attract and retain talent within the company.