Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences announces the grant of employment inducement awards to two new employees. The grants include options to purchase a total of 3,500 shares of common stock at an exercise price of $16.41 per share, the closing price on June 24, 2024, and restricted stock units for 1,750 shares. These awards are given under the 2020 Inducement Plan, approved in January 2020 under the NYSE Listed Company Manual Rule 303A.08, aimed at incentivizing new talent.

Positive

• Arcus Biosciences is actively recruiting and incentivizing new talent, which could boost innovation and development.
• Share options and restricted stock units may align employee interests with shareholder interests, potentially enhancing company performance.

Negative

• The issuance of new shares could lead to shareholder dilution.

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 two new employees options to purchase a total of 3,500 shares of the Company’s common stock at an exercise price per share of $16.41, which was the closing price on June 24, 2024, and restricted stock units to acquire a total of 1,750 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/20240625686441/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 was the exercise price for Arcus Biosciences' (RCUS) new employee stock options?

The exercise price for the new employee stock options was $16.41 per share, the closing price on June 24, 2024.

How many shares were included in Arcus Biosciences' (RCUS) latest employment inducement grants?

The employment inducement grants included options to purchase 3,500 shares and restricted stock units for 1,750 shares of common stock.

Under which plan were Arcus Biosciences' (RCUS) new employee equity awards granted?

The new employee equity awards were granted under Arcus Biosciences' 2020 Inducement Plan.

When was Arcus Biosciences' (RCUS) 2020 Inducement Plan approved?

Arcus Biosciences' 2020 Inducement Plan was approved by the Board of Directors in January 2020.