Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences, Inc. (NYSE:RCUS) announced the granting of stock options to eight new employees, allowing them to purchase a total of 83,400 shares at $44.17 each, reflecting the closing price on December 8, 2021. This issuance is part of the 2020 Inducement Plan approved in January 2020 under the NYSE rule for inducements. Arcus focuses on developing innovative cancer therapies and has initiated six investigational medicines targeting key biological pathways.

Positive

• Granting of 83,400 stock options to attract new talent.
• Stock options priced at $44.17 aligns with the recent market close.

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 eight new employees options to purchase a total of 83,400 shares of the Company’s common stock at an exercise price per share of $44.17, which was the closing price on December 8, 2021. The stock options 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/20211209005268/en/

Investor and Media Inquiries:

Holli Kolkey

VP of Corporate Communications

(650) 922-1269

hkolkey@arcusbio.com

Source: Arcus Biosciences, Inc.

FAQ

What recent stock option grants were made by Arcus Biosciences?

Arcus Biosciences granted stock options to eight new employees for a total of 83,400 shares at an exercise price of $44.17 each.

When was the stock option grant made by Arcus Biosciences?

The stock option grant was announced on December 8, 2021.

What is the exercise price for the new stock options at Arcus Biosciences?

The exercise price for the new stock options is $44.17.

Under which plan did Arcus Biosciences grant stock options?

The stock options were granted under the 2020 Inducement Plan.

What is the significance of the stock option grant for Arcus Biosciences?

The stock option grant aims to attract and retain talent within the company.