secwatch.observer — SEC 8-K summary
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Issuer:     Terns Pharmaceuticals, Inc. (TERN)
CIK:        0001831363
Form:       8-K
Filed at:   2024-02-07T23:59:59+00:00
Accession:  0001193125-24-026712
Event type: leadership
Sentiment:  positive
Materiality: 0.75
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Terns Pharmaceuticals appoints Amy Burroughs as CEO and director effective Feb 7, 2024
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- Amy Burroughs appointed CEO effective Feb 7, 2024; Jill Quigley becomes independent director after serving as Interim Senior Advisor.
- Burroughs receives $625k salary, 50% target bonus, option to buy 1.25M shares, and 150k RSUs with price milestones at $15 and $20.
- Burroughs previously CEO of Cleave Therapeutics, brings over 25 years experience in biotech and commercial roles.
- Equity awards previously granted to Quigley will continue to vest based on her director service.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831363/000119312524026712/0001193125-24-026712-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831363/000119312524026712/d718313d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-026712

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