On August 22, 2023 Coherus BioSciences, Inc. ("Coherus" or the "Company", Nasdaq: CHRS), reported that effective August 20, 2023, the compensation committee of the Company’s board of directors granted options to purchase an aggregate of 77,000 shares of the common stock of the Company to newly hired employees with a per share exercise price of $4.47, the closing trading price on August 18, 2023, the last trading date preceding the grant date (Press release, Coherus Biosciences, AUG 22, 2023, View Source [SID1234634617]). One Vice President level executive was granted options to purchase 45,000 shares; and four additional non-officer employees were granted options to purchase an aggregate of 32,000 shares.

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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.