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Arcus Biosciences Announces New Employment Inducement Grants
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Arcus Biosciences (NYSE:RCUS) announced the granting of equity awards to ten new employees. The Compensation Committee approved options to purchase 22,850 shares at $24.98 per share, along with restricted stock units for 11,425 shares. This initiative is part of the Company’s 2020 Inducement Plan, which aims to attract skilled professionals in the oncology-focused biopharmaceutical sector. These awards signify the company's commitment to incentivizing talent as it continues to develop innovative cancer therapies.
Positive
Equity awards granted to 10 new employees, aimed at attracting skilled professionals.
Options to purchase 22,850 shares at a closing price of $24.98, indicating potential for employee motivation and retention.
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 ten new employees options to purchase a total of 22,850 shares of the Company’s common stock at an exercise price per share of $24.98, which was the closing price on June 23, 2022, and restricted stock units to acquire a total of 11,425 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.
Investor and Media Inquiries:
Holli Kolkey VP of Corporate Communications
(650) 922-1269
hkolkey@arcusbio.com
Source: Arcus Biosciences
FAQ
What equity awards were granted by Arcus Biosciences on June 23, 2022?
Arcus Biosciences granted options to purchase 22,850 shares and restricted stock units for 11,425 shares at an exercise price of $24.98.
What is the purpose of the 2020 Inducement Plan at Arcus Biosciences?
The 2020 Inducement Plan is designed to attract and retain skilled employees in the oncology-focused biopharmaceutical sector.
How many new employees received equity awards from Arcus Biosciences?
Ten new employees received equity awards in the recent announcement.
What is the significance of the exercise price for the options granted by Arcus Biosciences?
The exercise price of $24.98 reflects the closing stock price on June 23, 2022, which may influence employee's decision to exercise options based on market performance.
When was the 2020 Inducement Plan approved by Arcus Biosciences?
The 2020 Inducement Plan was approved in January 2020.
