Terns Pharmaceuticals Reports Inducement Grant to New Employee Under Nasdaq Listing Rule 5635(C)(4)
Terns Pharmaceuticals (Nasdaq: TERN) has announced the granting of equity inducement awards to Elona Kogan, the company's new Chief Legal Officer, under its 2022 Employment Inducement Award Plan. The awards, approved by the Compensation Committee in accordance with Nasdaq Listing Rule 5635(c)(4), include:
1. A new hire option to purchase 475,000 shares of Terns common stock, vesting over four years.
2. A signing bonus option to purchase 28,000 shares, fully vesting on the one-year anniversary of the grant date.
Both options have a 10-year term and an exercise price of $8.33 per share, equal to the closing price of Terns' common stock on July 29, 2024. The awards are subject to Ms. Kogan's continued employment with Terns.
Terns Pharmaceuticals (Nasdaq: TERN) ha annunciato il conferimento di premi azionari di incentivo a Elona Kogan, il nuovo Chief Legal Officer dell'azienda, secondo il suo Piano di Premi di Incentivo per l'Occupazione del 2022. I premi, approvati dal Comitato per la Retribuzione in conformità con la Regola di Quotazione Nasdaq 5635(c)(4), includono:
1. Un'opzione per i nuovi assunti per acquistare 475.000 azioni di azioni ordinarie di Terns, con un periodo di maturazione di quattro anni.
2. Un'opzione per un bonus alla firma per acquistare 28.000 azioni, completamente maturata nel primo anniversario della data di concessione.
Entrambe le opzioni hanno un termine di 10 anni e un prezzo di esercizio di $8,33 per azione, pari al prezzo di chiusura delle azioni ordinarie di Terns del 29 luglio 2024. I premi sono soggetti al continuo impiego della signora Kogan con Terns.
Terns Pharmaceuticals (Nasdaq: TERN) ha anunciado la concesión de premios de acciones de incentivo a Elona Kogan, la nueva Directora Legal de la empresa, bajo su Plan de Premios de Incentivo de Empleo 2022. Los premios, aprobados por el Comité de Compensación de acuerdo con la Regla de Cotización Nasdaq 5635(c)(4), incluyen:
1. Una opción para nuevos empleados para comprar 475,000 acciones de acciones ordinarias de Terns, que se consolidan en un período de cuatro años.
2. Una opción de bono por firma para comprar 28,000 acciones, que se consolidará completamente en el primer aniversario de la fecha de concesión.
Ambas opciones tienen un plazo de 10 años y un precio de ejercicio de $8.33 por acción, igual al precio de cierre de las acciones ordinarias de Terns del 29 de julio de 2024. Los premios están sujetos a la permanencia de la Sra. Kogan en Terns.
Terns Pharmaceuticals (Nasdaq: TERN)는 2022년 고용 유인 보상 계획에 따라 Elona Kogan이라는 새로운 법무책임자에게 주식 유인 보상을 부여한다고 발표했습니다. 보상은 Nasdaq 상장 규정 5635(c)(4)에 따라 보상 위원회에서 승인되었으며, 다음을 포함합니다:
1. 신규 채용 옵션으로 475,000주의 Terns 보통주를 구매할 수 있으며, 4년 동안 분할됩니다.
2. 서명 보너스 옵션으로 28,000주를 구매할 수 있으며, 부여일 1주년 기념일에 전량 확보됩니다.
두 옵션 모두 10년 기간과 $8.33의 행사 가격을 가지고 있으며, 이는 2024년 7월 29일 Terns 보통주 종가와 동일합니다. 이 보상은 Kogan 씨의 Terns 재직 여부에 따라 달라집니다.
Terns Pharmaceuticals (Nasdaq: TERN) a annoncé l'octroi de primes d'incitation boursière à Elona Kogan, la nouvelle Directrice Juridique de l'entreprise, selon son Plan de Primes d'Incitation à l'Emploi de 2022. Les primes, approuvées par le Comité de Rémunération conformément à la Règle de Cotation Nasdaq 5635(c)(4), comprennent :
1. Une option pour les nouvelles recrues d'acheter 475 000 actions d'actions ordinaires de Terns, qui se déploient sur une période de quatre ans.
2. Une option de prime à la signature pour acheter 28 000 actions, pleine maturation le premier anniversaire de la date d'octroi.
Ces deux options ont une duree de 10 ans et un prix d'exercice de 8,33 $ par action, équivalant au prix de clôture des actions ordinaires de Terns au 29 juillet 2024. Les primes sont soumises à l'emploi continu de Mme Kogan avec Terns.
Terns Pharmaceuticals (Nasdaq: TERN) hat die Gewährung von Aktienanreizverträgen an Elona Kogan, die neue Rechtsabteilungsleiterin des Unternehmens, im Rahmen seines Planes für Beschäftigungsanreize 2022 angekündigt. Die Auszeichnungen, die vom Vergütungsausschuss gemäß der Nasdaq-Notierungsregel 5635(c)(4) genehmigt wurden, umfassen:
1. Eine Option für neue Mitarbeiter zum Kauf von 475.000 Aktien der Stammaktien von Terns, die über einen Zeitraum von vier Jahren zuteilungsreif werden.
2. Eine Signaturprämienoption zum Kauf von 28.000 Aktien, die am ersten Jahrestag des Gewährungsdatums vollständig zuteilungsreif wird.
Beide Optionen haben eine Laufzeit von 10 Jahren und einen Ausübungspreis von $8,33 pro Aktie, was dem Schlusskurs der Stammaktien von Terns am 29. Juli 2024 entspricht. Die Auszeichnungen unterliegen der fortdauernden Beschäftigung von Frau Kogan bei Terns.
- Appointment of a new Chief Legal Officer, indicating expansion of the executive team
- Granting of substantial equity awards to attract and retain top talent
- Potential dilution of existing shareholders due to the issuance of new stock options
FOSTER CITY, Calif., Aug. 01, 2024 (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 July 29, 2024 equity inducement awards to Elona Kogan, the Company’s new Chief Legal Officer, under the terms of the 2022 Employment Inducement Award Plan, as amended (the “Inducement Plan”). 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 Ms. Kogan’s acceptance of employment with Terns.
The Company granted Ms. Kogan a new hire option to purchase 475,000 shares of Terns common stock and a signing bonus option to purchase 28,000 shares. These options have 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 includes 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 program. For more information, please visit: www.ternspharma.com.
Contacts for Terns
Investors
Justin Ng
investors@ternspharma.com
Media
Bill Berry
Berry & Company Public Relations
media@ternspharma.com
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