0001562180-24-002316.txt : 20240305
0001562180-24-002316.hdr.sgml : 20240305
20240305180154
ACCESSION NUMBER: 0001562180-24-002316
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240301
FILED AS OF DATE: 20240305
DATE AS OF CHANGE: 20240305
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Burroughs Amy L.
CENTRAL INDEX KEY: 0001872564
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-39926
FILM NUMBER: 24722941
MAIL ADDRESS:
STREET 1: TWO CARLSON PARKWAY, SUITE 260
CITY: MINNEAPOLIS
STATE: MN
ZIP: 55447
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Terns Pharmaceuticals, Inc.
CENTRAL INDEX KEY: 0001831363
STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834]
ORGANIZATION NAME: 03 Life Sciences
IRS NUMBER: 000000000
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 1065 EAST HILLSDALE BLVD., SUITE 100
CITY: FOSTER CITY
STATE: CA
ZIP: 94404
BUSINESS PHONE: 650-525-5535 EXT.101
MAIL ADDRESS:
STREET 1: 1065 EAST HILLSDALE BLVD., SUITE 100
CITY: FOSTER CITY
STATE: CA
ZIP: 94404
4
1
primarydocument.xml
PRIMARY DOCUMENT
X0508
4
2024-03-01
false
0001831363
Terns Pharmaceuticals, Inc.
TERN
0001872564
Burroughs Amy L.
C/O TERNS PHARMACEUTICALS, INC.
1065 EAST HILLSDALE BLVD., SUITE 100
FOSTER CITY
CA
94404
true
true
false
false
Chief Executive Officer
false
Restricted Stock Unit
2024-03-01
4
A
false
150000.00
0.00
A
Common Stock
150000.00
150000.00
D
Stock Option (Right to buy)
7.31
2024-03-01
4
A
false
1250000.00
0.00
A
2034-02-28
Common Stock
1250000.00
1250000.00
D
Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting, one share of common stock.
The restricted stock unit award has a four-year term and vests based on the achievement of milestones stock prices with respect to the Issuer's common stock, subject to the Reporting Person's continued employment through the applicable vesting milestones. The restricted stock unit award vests as to 50% of the shares underlying the award if the average closing price of the Issuer's common stock over 30 consecutive trading days equals or exceeds $15.00 per share and as to the remaining 50% of the shares underlying the award if the average closing price of the Issuer's common stock over 30 consecutive trading days equals or exceeds $20.00 per share; provided that vesting shall not be deemed to occur earlier than the first anniversary of the Reporting Person's first day of employment and that vesting must be achieved on or before the fourth anniversary of the first day of employment.
25% of the shares subject to the option vest on the first anniversary measured from March 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.
/s/ Bryan Yoon, as Attorney-in-Fact for Amy L. Burroughs
2024-03-05