Arcus Biosciences Inc (NYSE:RCUS) said on Tuesday that the board's compensation committee has awarded a total of 250,000 shares of its common stock to its newly-appointed chief financial officer Robert C. Goeltz II.

Goeltz received an an option to purchase a total of 250,000 shares of the company's common stock at an exercise price per share of USD21.06, which was the closing price on 3 August 2020.

The stock option was granted pursuant to the company's 2020 Inducement Plan, which was approved by the board of directors in January 2020 pursuant to the "inducement exception" under NYSE Listed Company Manual Rule 303A.08.

According to the oncology-focused biopharmaceutical company, it is leveraging its deep cross-disciplinary expertise to create highly differentiated therapies and to develop a broad portfolio of novel combinations addressing significant unmet needs.