Tempest Therapeutics warned by Nasdaq for low equity and board independence; two directors resign

Tempest Therapeutics, Inc.

Stockholders' equity of $822k vs Nasdaq's $2.5M minimum; 45 days to submit compliance plan by July 6, 2026.
Directors Michael Raab and Christine Pellizzari resigned, causing non-compliance with majority independence and committee rules.
Company not eligible for standard cure period due to multiple vacancies; must submit plan for board compliance within 45 days.
Both deficiencies have no immediate listing effect but risk delisting if plans rejected or compliance not achieved.

item 3.01 item 5.02

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Machine-readable event card

schema_version: secwatch.filing_event.v1
accession: 0001193125-26-237207
form_type: 8-K
ticker: TPST
cik: 0001544227
company_name: Tempest Therapeutics, Inc.
filed_at: 2026-05-22T21:28:16+00:00
discovered_at: 2026-05-22T21:30:00.260434+00:00
generated_at: 2026-05-22T21:32:10.321351+00:00
sec_items: ["3.01", "5.02"]
event_type: regulatory
sentiment: negative
materiality_score: 0.9
confidence: high
secwatch_canonical_url: https://secwatch.observer/filing/0001193125-26-237207
json_url: https://secwatch.observer/filing/0001193125-26-237207.json
markdown_url: https://secwatch.observer/filing/0001193125-26-237207.md
text_url: https://secwatch.observer/filing/0001193125-26-237207.txt
edgar_index_url: https://www.sec.gov/Archives/edgar/data/1544227/000119312526237207/0001193125-26-237207-index.htm
edgar_primary_document_url: https://www.sec.gov/Archives/edgar/data/1544227/000119312526237207/d131489d8k.htm
generated_by_model: deepseek-v4-flash:cloud@v2
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Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Christine Pellizzari

Director

TPST · Tempest Therapeutics, Inc.

Filed: May 22, 2026 21:28 UTC

resignations of Mr. Michael Raab and Ms. Christine Pellizzari from the Board

Departed

Michael Raab

Director

TPST · Tempest Therapeutics, Inc.

Filed: May 22, 2026 21:28 UTC

resignations of Mr. Michael Raab and Ms. Christine Pellizzari from the Board

Source-grounded claims

0f73722e05ac68672164ff88ed835be308032129

Tempest Therapeutics, Inc. received a nasdaq noncompliance notice notice regarding other (rules 5605(b)(1), 5605(c)(2)(A), 5605(d)(2)(A), 5605(e)(1)).

notified the Nasdaq Stock Market LLC (“Nasdaq”) that the Company will not be in compliance with the majority independent director requirement under Nasdaq Listing Rule 5605(b)(1), the audit committee requirement under Nasdaq Listing Rule 5605(c)(2)(A), the compensation committee requirement under Nasdaq Listing Rule 5605(d)(2)(A), and the nominating and corporate governance requirement under Nasdaq Listing Rule 5605(e)(1), solely resulting from the resignations of Mr. Michael Raab and Ms. Christine Pellizzari from the Board

SEC 8-K Item 3.01 confidence 1.0 SEC evidence

f73f9a17ab8a4f3f20cdd08462e9c61b5b43e174

Tempest Therapeutics, Inc. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).

On May 19, 2026, Tempest Therapeutics, Inc. (the “Company”) received a deficiency letter from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market (“Nasdaq”) notifying the Company that it is not in compliance with the minimum stockholders’ equity requirement for continued listing on the Nasdaq Capital Market.

SEC 8-K Item 3.01 confidence 1.0 SEC evidence

564bab896c

Christine Pellizzari resigned as Director at Tempest Therapeutics, Inc..

resignations of Mr. Michael Raab and Ms. Christine Pellizzari from the Board

SEC 8-K Item 5.02 confidence 0.95 SEC evidence

c42bb19772

Michael Raab resigned as Director at Tempest Therapeutics, Inc..

resignations of Mr. Michael Raab and Ms. Christine Pellizzari from the Board

SEC 8-K Item 5.02 confidence 0.95 SEC evidence

Source: SEC EDGAR

accession 0001193125-26-237207

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