Terns Pharmaceuticals Grants Inducement Awards to New CEO Amy Burroughs
In a recent press release, Terns Pharmaceuticals, a clinical-stage biopharmaceutical company focused on developing treatments for serious diseases such as oncology and obesity, announced the granting of equity inducement awards to Amy Burroughs, the company’s newly appointed Chief Executive Officer.
The equity awards, which were approved by the company’s Board of Directors in accordance with Nasdaq Listing Rule 5635(c)(4), are effective as of March 1, 2024.These awards were granted under the terms of the 2022 Employment Inducement Award Plan, as amended, and serve as a material inducement for Burroughs to join Terns Pharmaceuticals.
It is important to note that as of the announcement, Terns Pharmaceuticals Inc.had 71.53018 million shares outstanding, with a current price of $5.38 per share.
Burroughs brings a wealth of experience and expertise to her new role, and the company is confident in her ability to lead Terns Pharmaceuticals through its next phase of growth and development.
As Terns Pharmaceuticals continues its mission to bring innovative treatments to patients in need, the addition of Amy Burroughs as CEO is a significant milestone for the company and its stakeholders.
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