SCHEDULE: Vanguard Group Amends Terns Pharma Stake to Zero

The Vanguard Group has amended its Schedule 13G filing for Terns Pharmaceuticals Inc., reporting zero beneficial ownership following an internal realignment.

Summary

• The Vanguard Group filed an Amendment No. 1 to its Schedule 13G for Terns Pharmaceuticals Inc. Common Stock.
• The filing indicates that The Vanguard Group now beneficially owns 0 shares, representing 0% of the class.
• This change is a result of an internal realignment within The Vanguard Group, Inc. that occurred on January 12, 2026.
• In accordance with SEC Release No. 34-39538, certain subsidiaries or business divisions of The Vanguard Group, Inc. will now report beneficial ownership separately (on a disaggregated basis).
• The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by these subsidiaries and/or business divisions.
• These subsidiaries and/or business divisions continue to pursue the same investment strategies as previously pursued by The Vanguard Group, Inc. prior to the realignment.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral for Terns Pharmaceuticals Inc. as it primarily reflects an administrative reporting change by The Vanguard Group, not a change in investment thesis or company fundamentals.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding Terns Pharmaceuticals Inc.'s operational or financial performance.

Management Comments

• The Vanguard Group stated that on January 12, 2026, it underwent an internal realignment, leading certain subsidiaries to report beneficial ownership separately.
• The Vanguard Group confirmed that it no longer has, or is deemed to have, beneficial ownership over securities held by these subsidiaries, which continue their previous investment strategies.

Industry Context

StockSavvy.ai notes that such Schedule 13G amendments, particularly from large asset managers like The Vanguard Group, often reflect internal administrative or reporting structure changes rather than a fundamental shift in investment strategy or a negative outlook on the issuer. This is a common practice for large, diversified investment firms to comply with regulatory reporting requirements as their internal structures evolve.

Stakeholder Impact

• Shareholders of Terns Pharmaceuticals Inc. should note that while The Vanguard Group itself no longer reports beneficial ownership, the underlying shares may still be held by its subsidiaries, which will now report separately. This is a reporting change, not necessarily a divestment.

Next Steps

• Certain subsidiaries or business divisions of The Vanguard Group, Inc. will now report their beneficial ownership of Terns Pharmaceuticals Inc. securities separately.

Key Dates

Keywords

Terns Pharmaceuticals, Vanguard Group, Schedule 13G, Beneficial Ownership, SEC Filing, Institutional Ownership, Common Stock, Internal Realignment