Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences (NYSE:RCUS) has granted equity awards to four new employees through its 2020 Inducement Plan. The grants include options to purchase 66,900 shares of common stock at an exercise price of $15.96 per share, which matched the closing price on December 23, 2024. Additionally, the employees received restricted stock units to acquire 33,450 shares of common stock. These awards were approved by the Compensation Committee under the NYSE Listed Company Manual Rule 303A.08 inducement exception.

Positive

• Stock-based compensation helps attract and retain talent without immediate cash expenditure

Negative

• Potential future dilution for existing shareholders from 100,350 total new shares
• Additional stock-based compensation expense will impact financial statements

HAYWARD, Calif.--(BUSINESS WIRE)-- Arcus Biosciences, Inc. (NYSE:RCUS), a clinical-stage, global biopharmaceutical company focused on developing differentiated molecules and combination therapies for patients with cancer, today announced that the Compensation Committee of the Company’s Board of Directors granted four new employees options to purchase a total of 66,900 shares of the Company’s common stock at an exercise price per share of $15.96, which was the closing price on December 23, 2024, and restricted stock units to acquire a total of 33,450 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, HIF-2a, CD73, dual A2a/A2b receptor, 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/20241224871937/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

How many shares were granted in Arcus Biosciences (RCUS) December 2024 inducement awards?

Arcus Biosciences granted options for 66,900 shares and restricted stock units for 33,450 shares, totaling 100,350 shares.

What was the exercise price for RCUS stock options granted on December 23, 2024?

The exercise price for the stock options was $15.96 per share, matching the closing price on December 23, 2024.

How many employees received RCUS inducement grants in December 2024?

Four new employees received inducement grants from Arcus Biosciences.

Under which plan were the RCUS equity awards granted in December 2024?

The equity awards were granted under Arcus Biosciences' 2020 Inducement Plan, approved under NYSE Listed Company Manual Rule 303A.08.