Coherus BioSciences Announces New Employment Inducement Grants

Rhea-AI Summary

Coherus BioSciences, Inc. (Nasdaq: CHRS) announced the grant of stock options for 177,500 shares to several newly hired employees, effective November 5, 2021. The granted options have an exercise price of $17.81 per share, reflecting the closing trading price on the grant date. A newly hired Vice President received options for 45,000 shares, while 11 non-officer employees received the remaining 132,500 shares. This incentive plan aims to attract new talent to the company.

Positive

• Granting 177,500 stock options to attract talent demonstrates commitment to growth.
• Exercise price set at $17.81 aligns with market conditions.

Negative

• Stock options may dilute existing shareholder value if exercised.
• Dependence on options to incentivize employees may signify challenges in attracting talent.

REDWOOD CITY, Calif., Nov. 10, 2021 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced that effective Nov. 5, 2021, the compensation committee of the Company’s board of directors granted options to purchase an aggregate of 177,500 shares of the common stock of the Company to newly hired employee with a per share exercise price of $17.81, the closing trading price on the grant date. One newly hired Vice President was granted options for 45,000 shares; eleven additional non-officer employees were granted options to purchase an aggregate of 132,500 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.

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

 

FAQ

What happened on November 5, 2021, regarding Coherus BioSciences stock options?

On November 5, 2021, Coherus BioSciences granted stock options to purchase 177,500 shares to newly hired employees.

What is the exercise price of the stock options granted by Coherus?

The exercise price of the stock options granted by Coherus is $17.81 per share.

How many shares were granted to the Vice President at Coherus?

The Vice President at Coherus was granted options to purchase 45,000 shares.

What does the stock options grant signify for Coherus BioSciences?

The stock options grant signifies Coherus's strategy to attract and retain talent in the company.

Where can I find more information about Coherus BioSciences?

More information about Coherus BioSciences can be found on their official website at www.coherus.com.