secwatch.observer — SEC 8-K summary
======================================

Issuer:     Tempest Therapeutics, Inc. (TPST)
CIK:        0001544227
Form:       8-K
Filed at:   2025-06-06T23:59:59+00:00
Accession:  0001193125-25-137041
Event type: leadership
Sentiment:  negative
Materiality: 0.75
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Tempest Therapeutics transitions CEO, CMO, and CFO to consultants with equity acceleration
--------------------------------------------------------------------------------

- CEO Stephen Brady, CMO Samuel Whiting, CFO Nicholas Maestas transitioned to consulting agreements effective June 5, 2025.
- Consulting agreements are one-year, hourly compensation; executives retain their roles and responsibilities.
- Separation agreements provide full acceleration of all outstanding equity awards, vested immediately on June 5, 2025.
- Extended post-Transition exercise period to earlier of Change of Control or 180 days after separation.
- Transition part of previously announced process to explore strategic alternatives and extend capital resources.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1544227/000119312525137041/0001193125-25-137041-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1544227/000119312525137041/d17737d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-137041

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer