Coherus BioSciences Announces New Employment Inducement Grants
On August 27, 2021, Coherus BioSciences (Nasdaq: CHRS) announced the grant of stock options totaling 278,000 shares to newly hired employees, effective as of August 26, 2021.
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Rhea-AI Summary
On August 27, 2021, Coherus BioSciences (Nasdaq: CHRS) announced the grant of stock options totaling 278,000 shares to newly hired employees, effective as of August 26, 2021. The options have an exercise price of $15.82 per share, matching the closing price on the grant date. Among the recipients, two Vice Presidents received options for 45,000 shares each, while an additional 188,000 shares were granted to fifteen non-officer employees. This grant is part of the 2016 Employment Commencement Incentive Plan approved by the board to attract new talent.
Positive
- Attracts new talent with stock options, potentially increasing employee commitment and performance.
- Options granted at a market price, aligning employee interests with shareholder value.
Negative
- No immediate financial impact from the grant, as it does not generate revenue or enhance current cash flow.
Details
News Market Reaction – CHRS
The recorded move for CHRS in the trading session of this news was +0.57%.
Data tracked by StockTitan Argus. Session date unavailable.
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REDWOOD CITY, Calif., Aug. 27, 2021 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced that effective Aug. 26, 2021, the compensation committee of the Company’s board of directors granted options to purchase an aggregate of 278,000 shares of the common stock of the Company to newly hired employees with a per share exercise price of
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.
About Coherus BioSciences
Coherus is a commercial stage biopharmaceutical company with the mission to increase access to cost-effective medicines that can have a major impact on patients’ lives and to deliver significant savings to the health care system. For additional information, please visit www.coherus.com.
Coherus BioSciences Contact Information:
IR Contact
McDavid Stilwell
Coherus BioSciences, Inc.
mstilwell@coherus.com
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