Terns Pharmaceuticals Reports Inducement Grant to New Chief Financial Officer Under Nasdaq Listing Rule 5635(C)(4)
Terns Pharmaceuticals (Nasdaq: TERN) has granted an equity inducement award to its new Chief Financial Officer, Andrew Gengos, as announced on February 26, 2025. The award, approved under the 2022 Employment Inducement Award Plan and in accordance with Nasdaq Listing Rule 5635(c)(4), consists of an option to purchase 750,000 shares of Terns common stock.
The stock option features a 10-year term with an exercise price of $3.73 per share, matching Terns' closing stock price on February 24, 2025. The option will vest over a four-year period, contingent upon Mr. Gengos maintaining his employment with the company.
Terns Pharmaceuticals (Nasdaq: TERN) ha concesso un premio in azioni al suo nuovo Direttore Finanziario, Andrew Gengos, come annunciato il 26 febbraio 2025. Il premio, approvato nell'ambito del Piano di Induzione all'Occupazione 2022 e in conformità con la Regola di Quotazione Nasdaq 5635(c)(4), consiste in un'opzione per acquistare 750.000 azioni ordinarie di Terns.
L'opzione azionaria ha un termine di 10 anni con un prezzo di esercizio di $3,73 per azione, corrispondente al prezzo di chiusura delle azioni di Terns del 24 febbraio 2025. L'opzione maturerà nel corso di un periodo di quattro anni, a condizione che il signor Gengos mantenga il suo impiego presso l'azienda.
Terns Pharmaceuticals (Nasdaq: TERN) ha otorgado un premio en acciones a su nuevo Director Financiero, Andrew Gengos, como se anunció el 26 de febrero de 2025. El premio, aprobado bajo el Plan de Inducción de Empleo 2022 y de acuerdo con la Regla de Cotización Nasdaq 5635(c)(4), consiste en una opción para comprar 750,000 acciones comunes de Terns.
La opción de acciones tiene un plazo de 10 años con un precio de ejercicio de $3.73 por acción, coincidiendo con el precio de cierre de las acciones de Terns del 24 de febrero de 2025. La opción se consolidará durante un período de cuatro años, condicionado a que el Sr. Gengos mantenga su empleo en la empresa.
Terns Pharmaceuticals (Nasdaq: TERN)은 2025년 2월 26일 발표된 바와 같이 새로운 최고 재무 책임자(Chief Financial Officer)인 Andrew Gengos에게 주식 유인 보상을 부여했습니다. 이 보상은 2022년 고용 유인 보상 계획에 따라 승인되었으며, Nasdaq 상장 규정 5635(c)(4)에 따라 750,000주의 Terns 보통주를 구매할 수 있는 옵션으로 구성됩니다.
이 주식 옵션은 10년의 기간을 가지며, 주당 $3.73의 행사 가격을 가지고 있으며, 이는 2025년 2월 24일 Terns의 종가와 일치합니다. 이 옵션은 Gengos 씨가 회사에 재직하는 조건으로 4년 동안에 걸쳐 발생합니다.
Terns Pharmaceuticals (Nasdaq: TERN) a accordé une prime en actions à son nouveau Directeur Financier, Andrew Gengos, comme annoncé le 26 février 2025. La prime, approuvée dans le cadre du Plan d'Induction à l'Emploi 2022 et conformément à la Règle de Cotation Nasdaq 5635(c)(4), consiste en une option d'achat de 750 000 actions ordinaires de Terns.
L'option d'achat d'actions a une durée de 10 ans avec un prix d'exercice de 3,73 $ par action, correspondant au prix de clôture des actions de Terns du 24 février 2025. L'option sera acquise sur une période de quatre ans, sous réserve que M. Gengos maintienne son emploi au sein de l'entreprise.
Terns Pharmaceuticals (Nasdaq: TERN) hat seinem neuen Finanzvorstand, Andrew Gengos, eine Aktienanreizvergütung gewährt, wie am 26. Februar 2025 bekannt gegeben wurde. Die Vergütung, die im Rahmen des 2022 Employment Inducement Award Plans genehmigt wurde und gemäß der Nasdaq-Listing-Regel 5635(c)(4) erfolgt, besteht aus einer Option zum Kauf von 750.000 Aktien der Stammaktien von Terns.
Die Aktienoption hat eine Laufzeit von 10 Jahren mit einem Ausübungspreis von 3,73 $ pro Aktie, was dem Schlusskurs von Terns am 24. Februar 2025 entspricht. Die Option wird über einen Zeitraum von vier Jahren fällig, vorausgesetzt, Herr Gengos bleibt im Unternehmen beschäftigt.
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FOSTER CITY, Calif., Feb. 26, 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 February 24, 2025 an equity inducement award to Andrew Gengos, the Company’s new chief financial officer, under the terms of the 2022 Employment Inducement Award Plan, as amended. The equity award was approved by the Compensation Committee of the Company’s Board of Directors and the Company’s Board of Directors in accordance with Nasdaq Listing Rule 5635(c)(4) and was made as a material inducement to Mr. Gengos’ acceptance of employment with Terns.
The Company granted Mr. Gengos a new hire option to purchase 750,000 shares of Terns common stock. The option has a 10-year term and an exercise price per share equal to
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
Investors
Justin Ng
investors@ternspharma.com
Media
Jenna Urban
CG Life
media@ternspharma.com
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