Erin Quirk - Jan 23, 2024 Form 4 Insider Report for Terns Pharmaceuticals, Inc. (TERN)

Role: President, Head of R&D
Signature: /s/ Bryan Yoon, as Attorney-in-Fact for Erin Quirk
Stock symbol: TERN
Transactions as of: Jan 23, 2024
Transactions value $: $0
Form type: 4
Date filed: 1/25/2024, 07:17 PM
Previous filing: Feb 3, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TERN	Common Stock	Award	$0	+75K		$0.00	75K	Jan 23, 2024	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	TERN	Stock Option (Right to Buy)	Award	$0	+150K		$0.00	150K	Jan 23, 2024	Common Stock	150K	$5.46	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each share is represented by a Restricted Stock Unit ("RSU"). 25% of the RSUs vest on the first anniversary measured from January 1, 2024 (the "Vesting Commencement Date"), and 1/16th of the total number of shares vest quarterly thereafter, such that 100% of the RSUs will be fully vested on the fourth anniversary of the Vesting Commencement Date.
F2	25% of the shares subject to the option vest on the first anniversary measured from January 1, 2024 (the "Vesting Commencement Date"), and 1/48th of the total number of shares vest monthly thereafter, such that 100% of the shares subject to the option will be fully vested on the fourth anniversary of the Vesting Commencement Date.