Tempest Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
BRISBANE, Calif., Jan. 05, 2024 (GLOBE NEWSWIRE) — Tempest Therapeutics, Inc. (Nasdaq:TPST), a clinical-stage oncology company developing first-in-class1 therapeutics that combine both targeted and immune-mediated mechanisms, today announced that on January 3, 2024 the Compensation Committee of the Company’s Board of Directors granted one employee a nonqualified stock option to purchase 4,500 shares of its common stock under the Company’s 2023 Inducement Plan. The stock option will vest over a four-year period, with 25% of the option vesting on the first anniversary of the employee’s start date, and 1/48th of the total shares vesting monthly thereafter, subject to continued employment on each vesting date.