Erin Quirk - 23 Jan 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
Issuer symbol
TERN
Transactions as of
23 Jan 2024
Net transactions value
$0
Form type
4
Filing time
25 Jan 2024, 19:17:02 UTC
Previous filing
03 Feb 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TERN Common Stock Award $0 +75,000 $0.000000 75,000 23 Jan 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 +150,000 $0.000000 150,000 23 Jan 2024 Common Stock 150,000 $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.