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 thirteen new employees. A total of 29,050 options were granted at an exercise price of $27.31, based on the closing price on April 25, 2022. Additionally, 14,525 restricted stock units were issued. These equity awards are part of the Company’s 2020 Inducement Plan, approved in January 2020, which allows for stock grants under NYSE rules. Arcus focuses on developing innovative cancer therapies through partnerships and clinical studies.

Positive

• Granting of stock options and restricted stock units to attract talent.
• Strengthening of workforce with thirteen new employees.

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• 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 thirteen new employees options to purchase a total of 29,050 shares of the Company’s common stock at an exercise price per share of $27.31, which was the closing price on April 25, 2022, and restricted stock units to acquire a total of 14,525 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/20220426005556/en/

Investor and Media Inquiries:

Holli Kolkey

VP of Corporate Communications

(650) 922-1269

hkolkey@arcusbio.com

 

Source: Arcus Biosciences

FAQ

What did Arcus Biosciences announce regarding employee compensation on April 26, 2022?

Arcus Biosciences announced the granting of stock options and restricted stock units to thirteen new employees, totaling 29,050 options and 14,525 restricted stock units.

What is the exercise price for the stock options granted by Arcus Biosciences?

The exercise price for the stock options granted is $27.31, based on the closing price on April 25, 2022.

Under which plan were the equity awards granted at Arcus Biosciences?

The equity awards were granted under the Company’s 2020 Inducement Plan.

How many shares of common stock were included in the stock option grant by Arcus Biosciences?

The stock option grant included a total of 29,050 shares of the Company’s common stock.