Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences, Inc. (NYSE:RCUS) announced the grant of stock options to four new employees totaling 23,400 shares at an exercise price of $44.59, the closing price on December 23, 2021. This grant is part of the Company’s 2020 Inducement Plan, approved by the Board of Directors in January 2020. The company focuses on developing innovative cancer therapies, with six investigational medicines currently in clinical studies targeting various biological pathways.

Positive

• The grant of 23,400 stock options could incentivize new employees, potentially enhancing workforce motivation and retention.

Negative

• The exercise price of $44.59 reflects a significant commitment that may dilute existing shareholders if options are exercised.

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 four new employees options to purchase a total of 23,400 shares of the Company’s common stock at an exercise price per share of $44.59, which was the closing price on December 23, 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/20211224005014/en/

Investor and Media Inquiries:

Holli Kolkey

VP of Corporate Communications

(650) 922-1269

hkolkey@arcusbio.com

Source: Arcus Biosciences

FAQ

What stock options did Arcus Biosciences grant to new employees?

Arcus Biosciences granted stock options to four new employees to purchase a total of 23,400 shares at an exercise price of $44.59.

When was the grant of stock options made by Arcus Biosciences?

The stock options were granted as announced on December 23, 2021.

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

The 2020 Inducement Plan allows the company to grant stock options to incentivize new employees, supporting talent acquisition.

How many shares were included in the stock options granted by Arcus Biosciences?

A total of 23,400 shares were included in the stock options granted.

What potential impact could the stock options have on Arcus Biosciences' stock performance?

If the options are exercised, it may lead to shareholder dilution, impacting stock performance.