Tenaya Therapeutics Reports Inducement Grants under NASDAQ Listing Rule 5635(c)(4)

Tenaya Therapeutics (NASDAQ: TNYA), a clinical-stage biotech company focused on heart disease treatments, has granted stock options to two new non-executive employees.

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Tenaya Therapeutics (NASDAQ: TNYA), a clinical-stage biotech company focused on heart disease treatments, has granted stock options to two new non-executive employees. The grants include options to purchase 202,000 shares of common stock at an exercise price of $1.20 per share, matching the closing price on September 15, 2025.

The options have a ten-year term with a four-year vesting schedule: 25% vests after one year, followed by monthly vesting of 1/48th of shares. These grants were made under the company's 2024 Inducement Equity Incentive Plan in accordance with NASDAQ Listing Rule 5635(c)(4).

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SOUTH SAN FRANCISCO, Calif., Sept. 18, 2025 (GLOBE NEWSWIRE) -- Tenaya Therapeutics Inc. (NASDAQ: TNYA), a clinical-stage biotechnology company with a mission to discover, develop and deliver potentially curative therapies that address the underlying causes of heart disease, today announced that it granted stock options to purchase an aggregate of 202,000 shares of Tenaya common stock to two new non-executive employees in connection with the commencement of their employment. The stock options have an exercise price of $1.20 per share, which is equal to the closing price of Tenaya’s common stock on September 15, 2025. Each stock option has a ten-year term and vests as follows over a total of four years: 1/4^th of the original number of shares subject to the stock option shall vest on the one-year anniversary of the employee's date of hire and 1/48^th of the original number of shares subject to the stock option shall vest every month thereafter, subject to such employee’s continued service with Tenaya on each such date.

The stock options are subject to the terms and conditions of the Tenaya Therapeutics Inc. 2024 Inducement Equity Incentive Plan and related forms of agreements and were granted as an inducement material to each new employee’s acceptance of employment with Tenaya in accordance with NASDAQ Listing Rule 5635(c)(4).

About Tenaya Therapeutics
Tenaya Therapeutics is a clinical-stage biotechnology company committed to a bold mission: to discover, develop and deliver potentially curative therapies that address the underlying drivers of heart disease. Tenaya’s pipeline includes clinical-stage candidates TN-201, a gene therapy for MYBPC3-associated hypertrophic cardiomyopathy (HCM) and TN-401, a gene therapy for PKP2-associated arrhythmogenic right ventricular cardiomyopathy (ARVC). Tenaya has employed a suite of integrated internal capabilities, including modality agnostic target validation, capsid engineering and manufacturing, to generate a portfolio of novel medicines based on genetic insights, including TN-301, a clinical-stage small molecule HDAC6 inhibitor for the potential treatment of heart failure and related cardio/muscular disease, and multiple early-stage programs in preclinical development aimed at the treatment of both rare genetic disorders and more prevalent heart conditions. For more information, visit www.tenayatherapeutics.com.

Contact
Michelle Corral
VP, Corporate Communications and Investor Relations
IR@tenayathera.com

FAQ

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What stock options did Tenaya Therapeutics (TNYA) grant to new employees in September 2025?

Tenaya granted options to purchase 202,000 shares of common stock at $1.20 per share to two new non-executive employees.

What is the vesting schedule for Tenaya Therapeutics' September 2025 employee stock options?

The options vest over four years, with 25% vesting after one year and 1/48th vesting monthly thereafter, subject to continued employment.

What is the exercise price of TNYA's September 2025 inducement grants?

The exercise price is $1.20 per share, equal to Tenaya's closing stock price on September 15, 2025.

How long is the term of Tenaya Therapeutics' September 2025 stock options?

The stock options have a ten-year term from the date of grant.