Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences, Inc. (NYSE:RCUS) announced the granting of stock options and restricted stock units to nine new employees. A total of 13,700 options were granted at an exercise price of $24.69, the closing price on November 8, 2022, alongside 6,850 restricted stock units. These awards were made under the Company’s 2020 Inducement Plan, approved in January 2020. Arcus focuses on developing innovative cancer therapies through clinical studies on various investigational medicines targeting key biological pathways.

Positive

• Granting of 13,700 stock options may enhance employee incentivization.
• Expansion of employee stock ownership aligns interests with shareholder value.

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 nine new employees options to purchase a total of 13,700 shares of the Company’s common stock at an exercise price per share of $24.69, which was the closing price on November 8, 2022, and restricted stock units to acquire a total of 6,850 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 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/20221109005456/en/

Investor and Media Inquiries:

Holli Kolkey

VP of Corporate Communications

(650) 922-1269

hkolkey@arcusbio.com

Source: Arcus Biosciences

FAQ

What recent employee stock options were granted by Arcus Biosciences (RCUS)?

Arcus Biosciences granted 13,700 stock options at an exercise price of $24.69 to nine new employees.

When were the stock options for Arcus Biosciences employees priced?

The stock options were priced at $24.69, the closing price on November 8, 2022.

What is the total number of restricted stock units granted by Arcus Biosciences?

Arcus Biosciences granted a total of 6,850 restricted stock units.

Under what plan were the stock options granted to Arcus employees?

The stock options were granted under the Company’s 2020 Inducement Plan.