Terns Pharmaceuticals Reports Inducement Grants to New Chief Executive Officer Under Nasdaq Listing Rule 5635(C)(4)
FOSTER CITY, Calif., Feb. 07, 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 effective as of March 1, 2024 equity inducement awards to Amy Burroughs, the Company’s new Chief Executive Officer, under the terms of the 2022 Employment Inducement Award Plan, as amended (the “Inducement Plan”). The equity awards were approved by the Company’s Board of Directors in accordance with Nasdaq Listing Rule 5635(c)(4) and were made as a material inducement to the employee’s acceptance of employment with Terns.
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