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

1. Terns granted 325,000 shares to new employees as incentive. 2. The options have a 10-year term with an exercise price of $3.56. 3. Vesting period is four years contingent on continued employment. 4. This move supports talent acquisition in a competitive biotech landscape. 5. Terns develops treatments for serious diseases, enhancing their clinical pipeline.

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FAQ

Why Bullish?

The recruitment of new talent through equity awards indicates a healthy strategy. Historically, effective talent acquisition positively correlates with company performance, especially in biotech.

How important is it?

The article highlights Terns' commitment to growth and development, impacting investor perception. Improved staffing can lead to accelerated R&D timelines and potential market performance.

Why Short Term?

Short-term impact due to immediate investor confidence in company capabilities. Successful employee onboarding can influence project timelines and product development significantly.

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May 02, 2025 16:05 ET  | Source: Terns Pharmaceuticals, Inc. FOSTER CITY, Calif., May 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 May 1, 2025 equity inducement awards 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 325,000 shares, in the aggregate, of Terns common stock to the new employees. The options have a 10-year term and an exercise price per share equal to $3.56, which was the closing price of Terns’ common stock on May 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 Bock Zafereoinvestors@ternspharma.com MediaJenna UrbanCG Lifemedia@ternspharma.com

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