Carl L. Gordon - Jun 10, 2024 Form 4 Insider Report for Terns Pharmaceuticals, Inc. (TERN)

Signature
/s/ Bryan Yoon, as Attorney-in-Fact for Carl Gordon
Stock symbol
TERN
Transactions as of
Jun 10, 2024
Transactions value $
$0
Form type
4
Date filed
6/14/2024, 06:04 PM
Previous filing
Jun 7, 2024
Next filing
Jul 2, 2024

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 +32K $0.00 32K Jun 10, 2024 Common Stock 32K $6.99 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The option will vest in full on the earlier of (i) the first anniversary of the date of grant and (ii) immediately prior to the Annual Meeting following the date of grant.
F2 Pursuant to an agreement with OrbiMed Advisors LLC, OrbiMed Asia GP III, L.P., OrbiMed Advisors III Limited, and OrbiMed Capital GP VII LLC, the Reporting Person is obligated to transfer any securities issued under any such stock options or other awards, or the economic benefit thereof, to OrbiMed Advisors LLC, OrbiMed Asia GP III, L.P., OrbiMed Advisors III Limited, and OrbiMed Capital GP VII LLC, which will in turn ensure that such securities or economic benefits are provided to OrbiMed Asia Partners III, L.P. and OrbiMed Private Investments VII, LP.