Coherus BioSciences Announces New Employment Inducement Grants

REDWOOD CITY, Calif., June 22, 2022 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced that effective June 16, 2022, the compensation committee of the Company’s board of directors granted options to purchase an aggregate of 409,000 shares of the common stock of the Company to 16 newly hired employees with a per share exercise price of $5.86, the closing trading price on the grant date. One newly-hired Chief level executive was granted options to purchase 200,000 shares and one Vice President was granted options to purchase 45,000 shares. 14 non-officer employees were granted options to purchase an aggregate of 164,000 shares.

The stock options were granted pursuant to the Coherus BioSciences, Inc. 2016 Employment Commencement Incentive Plan, which was approved by the Company’s board of directors in June 2016 under Rule 5635(c)(4) of the Nasdaq Global Select Market for equity grants to induce new employees to enter into employment with the Company.