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Terns Pharmaceuticals Reports Inducement Grant to New Employees Under Nasdaq Listing Rule 5635(C)(4)

1. Terns granted equity awards to two new employees as inducement. 2. 611,000 stock options were distributed with an exercise price of $2.56. 3. The options vest over four years, contingent on employee service. 4. Terns focuses on small-molecule candidates for oncology and obesity. 5. The company's pipeline includes multiple clinical-stage development programs.

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Why Neutral?

The grant of options itself is a common practice and generally neutral in impact. Historical data shows minor price fluctuations for similar announcements.

How important is it?

The article conveys structural changes within Terns, affecting internal network but lacking immediate market implications.

Why Short Term?

Short-term impact observed as employee equity awards may not significantly shift market perception. However, employee incentives can lead to enhanced productivity.

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April 02, 2025 16:05 ET  | Source: Terns Pharmaceuticals, Inc. FOSTER CITY, Calif., April 02, 2025 (GLOBE NEWSWIRE) -- Terns Pharmaceuticals, Inc. (“Terns” or the “Company”) (Nasdaq: TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology and obesity, today announced that it has granted as of April 1, 2025 an equity inducement award to two new employees under the terms of the 2022 Employment Inducement Award Plan, as amended. The equity awards were approved by the Compensation Committee of the Company’s Board of Directors in accordance with Nasdaq Listing Rule 5635(c)(4) and were made as a material inducement to the employees’ acceptance of employment with Terns. The Company granted options to purchase 611,000 shares of Terns common stock to the new employees. The options have a 10-year term and an exercise price per share equal to $2.56, which was the closing price of Terns’ common stock on April 1, 2025. The options vest over four years, subject to the employees’ continued service through the applicable vesting dates. About Terns Pharmaceuticals Terns Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology and obesity. Terns’ pipeline contains three clinical stage development programs including an allosteric BCR-ABL inhibitor, a small-molecule GLP-1 receptor agonist, a THR-β agonist, and a preclinical GIPR modulator discovery effort, prioritizing a GIPR antagonist nomination candidate. For more information, please visit: www.ternspharma.com. Contacts for Terns InvestorsKaytee Bockinvestors@ternspharma.com MediaJenna UrbanCG Lifemedia@ternspharma.com

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