Form 4: Carl Gordon, Terns Pharmaceuticals Director, Acquires 32,000 Stock Options
SEC Form 4
Director Carl Gordon acquired 32,000 stock options in Terns Pharmaceuticals, Inc. on June 10, 2024.
Summary
- On June 10, 2024, Carl Gordon, a director of Terns Pharmaceuticals, Inc., acquired 32,000 stock options with an exercise price of $6.99.
- The options vest fully on the earlier of the first anniversary of the grant date or immediately before the next Annual Meeting.
- Gordon is obligated to transfer any securities or economic benefits from these options to OrbiMed Asia Partners III, L.P. and OrbiMed Private Investments VII, LP, per an agreement with OrbiMed Advisors LLC and related entities.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock option acquisition, with no inherent positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, providing transparency to the market regarding the holdings and transactions of company directors.
Related Party Transactions
- Carl Gordon is obligated to transfer any securities issued under 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.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding insider activity.
Key Dates
| Date | Description |
|---|---|
| 06/10/2024 | Date of transaction: Carl Gordon acquired 32,000 stock options. |
| 06/09/2034 | Expiration date of the stock options. |
| 06/14/2024 | Date of Form 4 filing. |
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