Tempest CFO Rossettos resigns; Constance Ames named CFO; Freda-Smith joins board as Audit Chair

Tempest Therapeutics, Inc.

Related-party Master Services Agreement with Factor Bioscience: CEO Matt Angel controls Factor and owns 34.2% of Tempest; expected fees of $5.0M/year paid in $416,667 monthly installments.
Work Order No. 1 covers development of in vivo CAR-T therapies; either party may terminate the MSA or work order on 30 days' notice; Tempest has three one-month suspension rights.
CFO Nicholas Rossettos resigned effective immediately on Sept 22, 2026; Constance Ames named CFO, principal financial and accounting officer, treasurer and corporate secretary.
Nancy Freda-Smith, 54, former Chief Audit and Risk Officer at Ralph Lauren, appointed Class III director and Chair of the Audit Committee; receives a 25,000-share option award.
Nasdaq told Tempest on May 22, 2026 it was out of compliance over multiple board vacancies; after adding Freda-Smith, Dr. Yee and Mr. Richey, the board says it is now in full compliance.

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