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

May 3, 2024

https://www.globenewswire.com/news-release/2024/05/03/2875348/0/en/Terns-Pharmaceuticals-Reports-Inducement-Grant-to-New-Employee-Under-Nasdaq-Listing-Rule-5635-C-4.html

FOSTER CITY, Calif., May 03, 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 May 1, 2024 an equity inducement award to Melita Sun Jung, the Company’s new Chief Business Officer, under the terms of the 2022 Employment Inducement Award Plan, as amended (the “Inducement Plan”). The equity award was approved by the Compensation Committee of the Company’s Board of Directors in accordance with Nasdaq Listing Rule 5635(c)(4) and was made as a material inducement to Ms. Jung’s acceptance of employment with Terns.

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