Tempest Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Tempest Therapeutics (TPST), a clinical-stage biotech company focused on developing targeted cancer therapeutics, has announced a new employee compensation grant.

Rhea-AI Summary

Tempest Therapeutics (TPST), a clinical-stage biotech company focused on developing targeted cancer therapeutics, has announced a new employee compensation grant. The company's Compensation Committee approved nonqualified stock options for one employee to purchase 45,000 shares of common stock under its 2023 Inducement Plan. The options will vest over four years, with 25% vesting after the first year and the remaining portion vesting at 1/48th monthly thereafter, contingent on continued employment.

Positive

• Stock-based compensation helps align employee interests with shareholders
• Structured vesting schedule promotes employee retention

Negative

• Potential shareholder dilution from 45,000 new stock options

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BRISBANE, Calif., Feb. 07, 2025 (GLOBE NEWSWIRE) -- Tempest Therapeutics, Inc. (Nasdaq: TPST), a clinical-stage biotechnology company developing first-in-class¹ targeted and immune-mediated therapeutics to fight cancer, today announced that the Compensation Committee of the Company’s Board of Directors granted one employee nonqualified stock options to purchase an aggregate of 45,000 shares of its common stock under the Company’s 2023 Inducement Plan.

The stock options will vest over a four-year period, with 25% of each of the options vesting on the first anniversary of such employee’s start date, and 1/48th of the total shares vesting monthly thereafter, subject to continued employment on each vesting date.

About Tempest Therapeutics
Tempest Therapeutics is a clinical-stage biotechnology company advancing a diverse portfolio of small molecule product candidates containing tumor-targeted and/or immune-mediated mechanisms with the potential to treat a wide range of tumors. The company’s novel programs range from early research to later-stage investigation in a randomized global study in first-line cancer patients. Tempest is headquartered in Brisbane, California. More information about Tempest can be found on the company’s website at www.tempesttx.com.

Investor & Media Contacts:

Sylvia Wheeler
Wheelhouse Life Science Advisors
swheeler@wheelhouselsa.com

Aljanae Reynolds
Wheelhouse Life Science Advisors
areynolds@wheelhouselsa.com

¹ If approved by the FDA

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares were granted in TPST's latest stock option grant?

Tempest Therapeutics granted stock options to purchase 45,000 shares of common stock to one employee.

What is the vesting schedule for TPST's February 2025 stock options grant?

The stock options vest over 4 years, with 25% vesting after the first year and 1/48th vesting monthly thereafter, subject to continued employment.

Under which plan were TPST's new stock options granted?

The stock options were granted under Tempest Therapeutics' 2023 Inducement Plan.

How will TPST's February 2025 stock option grant affect shareholders?

The grant will result in potential dilution of existing shareholders as it adds 45,000 new shares to the potential outstanding share count upon exercise.