Form 4: Terns Pharmaceuticals CFO Mark J. Vignola Executes Option and Sells Shares Under 10b5-1 Plan
SEC Form 4
Mark J. Vignola, CFO of Terns Pharmaceuticals, exercised stock options and sold 10,000 shares of common stock at $11.00 per share on September 10, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On September 10, 2024, Mark J. Vignola, the Chief Financial Officer of Terns Pharmaceuticals, executed a transaction involving the company's stock.
- Vignola exercised a stock option to acquire 10,000 shares of common stock at a price of $5.36 per share.
- Simultaneously, Vignola sold 10,000 shares of common stock at a price of $11.00 per share.
- These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 18, 2024.
- Following these transactions, Vignola directly owns 91,940 shares of Terns Pharmaceuticals common stock and holds options for 55,000 shares.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing insider transactions. It doesn't inherently convey positive or negative sentiment about the company's prospects.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions. It is common for executives to have pre-arranged trading plans (Rule 10b5-1) to avoid accusations of trading on inside information. The filing itself doesn't necessarily indicate a positive or negative outlook for the company.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the pre-planned nature of the trades mitigates any significant concerns.
Key Dates
| Date | Description |
|---|---|
| 2022-01-01 | Vesting Commencement Date for stock options |
| 2024-03-18 | Date of adoption of Rule 10b5-1 trading plan |
| 2024-09-10 | Date of transaction: option exercise and share sale |
| 2032-01-25 | Expiration date of stock options |
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