Hongbo Lu - Jul 1, 2024 Form 4 Insider Report for Terns Pharmaceuticals, Inc. (TERN)

Role
Director
Signature
/s/ Bryan Yoon, as Attorney-in-Fact for Hongbo Lu
Stock symbol
TERN
Transactions as of
Jul 1, 2024
Transactions value $
$0
Form type
4
Date filed
7/2/2024, 06:36 PM
Previous filing
Jun 14, 2024
Next filing
Sep 17, 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 +4.68K $0.00 4.68K Jul 1, 2024 Common Stock 4.68K $6.85 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This option was issued pursuant to the Issuer's Non-Employee Director Compensation Policy, under which the Reporting Person elected to receive this option in lieu of the Reporting Person's cash retainer fee of $20,000 for the third and fourth quarters of 2024.
F2 The option will vest as to 1/6th of the total shares subject thereto on each monthly anniversary of the date of grant, such that 100% of the shares subject to the option will be fully vested on January 1, 2025.