Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences (NYSE: RCUS), a clinical-stage biopharmaceutical company, announced that its Compensation Committee has granted options to six new employees to purchase a total of 25,200 shares of common stock at $13.84 per share, the closing price on July 8, 2024. Additionally, 12,600 restricted stock units were awarded. These grants were made under the company's 2020 Inducement Plan, approved by the Board of Directors as per NYSE Rule 303A.08.

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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 six new employees options to purchase a total of 25,200 shares of the Company’s common stock at an exercise price per share of $13.84, which was the closing price on July 8, 2024, and restricted stock units to acquire a total of 12,600 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/20240709648408/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

What recent stock options has Arcus Biosciences granted to its employees?

Arcus Biosciences granted options to six new employees to purchase a total of 25,200 shares of common stock at $13.84 per share.

What are the details of Arcus Biosciences' recent restricted stock unit awards?

Arcus Biosciences awarded 12,600 restricted stock units to new employees under its 2020 Inducement Plan.

What was the exercise price for the Arcus Biosciences stock options granted in July 2024?

The exercise price for the stock options granted on July 8, 2024, is $13.84 per share.

Under which plan were the recent Arcus Biosciences stock options and restricted stock units granted?

The recent grants were made under Arcus Biosciences' 2020 Inducement Plan.

Why did Arcus Biosciences grant new employment inducement options?

The options were granted as part of Arcus Biosciences' 2020 Inducement Plan to attract and retain new employees.