In an exciting move, Coherus BioSciences, headquartered in REDWOOD CITY, Calif., made a significant announcement on August 22, 2023. The innovative biotech company (Nasdaq: CHRS) revealed that as of August 20, 2023, its dedicated compensation committee had granted options for the purchase of a total of 77,000 shares of the Company’s common stock.
These enticing options were extended to the talented individuals newly welcomed into the Coherus family. With an exercise price set at $4.47 per share—reflecting the closing trading price on August 18, 2023—the Company ensured that its new team members have a stake in its exciting journey ahead.
The spotlight of this announcement shines on a Vice President-level executive who received a substantial grant of options to purchase 45,000 shares. Not to be outdone, four more exceptional non-officer employees were granted options, collectively allowing them to purchase 32,000 shares. These stock options were issued under the esteemed Coherus BioSciences, Inc. 2016 Employment Commencement Incentive Plan.
This visionary plan, initially approved by the Company’s board of directors in June 2016, aligns with Rule 5635(c)(4) of the Nasdaq Global Select Market. It stands as a testament to Coherus’ commitment to attracting top-tier talent and fostering a dynamic and engaged workforce.