Terns Pharmaceuticals Welcomes New Employees with Inducement Grants
Terns Pharmaceuticals' Recent Inducement Grants
Terns Pharmaceuticals, Inc. (NASDAQ: TERN), a pioneering clinical-stage biopharmaceutical company, has made a significant move to enhance its workforce by awarding equity inducement grants to four new hires as of October 1, 2025. These inducements come as part of Terns’ commitment to attracting top talent in the competitive biotech industry.
The Inducement Awards Explained
The equity awards were officially sanctioned by the company's Board of Directors through its Compensation Committee, aligning with Nasdaq Listing Rule 5635(c)(4). This decision marks a strategic initiative aimed at encouraging prospective employees to join Terns by offering them a stake in the company’s success.
Details of the Grant
The newly granted options allow employees to purchase a combined total of 118,000 shares of Terns common stock, all set with an exercise price of $7.81. This pricing corresponds to the stock's closing value on the grant date. The stock options are structured to vest over the span of four years, providing that the employees continue their service throughout the vesting period.
About Terns Pharmaceuticals
Terns Pharmaceuticals is focused on developing a range of innovative treatment options targeting serious illnesses, notably in the fields of oncology and obesity. Their forward-looking pipeline consists of several clinical stage program candidates, including an allosteric BCR-ABL inhibitor and a small-molecule GLP-1 receptor agonist, among others. This commitment to research and development shines a light on Terns’ mission to combat critical health issues through groundbreaking therapies.
Current Pipeline Insights
The company is also exploring a THR-? agonist and has a preclinical discovery effort in motion for a GIPR modulator, with plans to nominate a GIPR antagonist candidate soon. With a robust pipeline, Terns aims to deliver transformative solutions to patients facing challenges with severe health conditions.
Engaging the Community
Terns strives to build strong relationships with its investors and the community. By granting equity inducements, the company aligns the interests of its employees with those of its stakeholders, fostering a culture of shared success. This strategic approach is pivotal for nurturing a dedicated workforce that propels innovation and accomplishment within the company.
Contact Information
For inquiries regarding investor relations, Kaytee Bock can be contacted via email. Media inquiries can be directed to Jenna Urban at CG Life. Terns Pharmaceuticals is eager to ensure open lines of communication, promoting transparency with its community and stakeholders.
Frequently Asked Questions
What is the purpose of the inducement grants by Terns Pharmaceuticals?
The inducement grants serve to attract and retain talented employees by offering them equity in the company, thus aligning their interests with those of the company and its shareholders.
How many shares were granted to the new employees?
The company granted a total of 118,000 shares for purchase as part of the inducement awards.
What is the vesting schedule for the granted options?
The options vest over a four-year period, contingent upon the employees maintaining their service through the vesting dates.
What types of diseases does Terns Pharmaceuticals focus on?
Terns is dedicated to developing treatments targeting serious diseases such as oncology and obesity.
How can someone get in touch with Terns Pharmaceuticals?
Interested parties can contact Terns via email for investor or media inquiries, ensuring that questions and communications are promptly addressed.
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