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Kyverna Therapeutics, Inc. amended its existing non-dilutive term loan facility with Oxford Finance, which provides up to $150.0 million in multiple tranches. The company previously drew $25.0 million from Term A and now has extended access to the remaining $15.0 million of Term A Loans through December 31, 2026 in exchange for an upfront fee of $187,500.
If Kyverna does not use the full remaining Term A amount by that date, it will pay a 1.0% non‑utilization fee on the undrawn balance. Contingent on drawing the remaining Term A funds, availability periods for the Term B Loan of $5.0 million to $20.0 million and two $20.0 million Term C tranches will be extended or restructured around specific clinical and revenue milestones.
Under those same conditions, Kyverna will also become subject to minimum revenue covenants beginning with a quarter ending as early as June 30, 2027, with the start date tied to how much cash it raises from other capital sources over certain periods.
Kyverna Therapeutics, Inc. reported results from its 2026 annual stockholder meeting. Of 60,530,293 common shares outstanding as of March 30, 2026, 43,987,007 shares were represented, about 73% of shares entitled to vote, which was sufficient to constitute a quorum.
Stockholders elected Class II directors Ian Clark and Christi Shaw to serve until the 2029 annual meeting or until their successors are elected and qualified. Clark received 31,505,902 votes for and 3,255,231 votes withheld, while Shaw received 34,528,865 votes for and 232,268 votes withheld, with 9,225,874 broker non-votes on each nominee.
Stockholders also ratified the Audit Committee’s appointment of BDO USA, P.C. as the independent registered public accounting firm and independent auditor for the year ending December 31, 2026, with 43,830,300 votes for, 80,223 votes against, and 76,484 abstentions.
Kyverna Therapeutics director Ian T. Clark received new equity awards. He was granted 5,093 restricted stock units of common stock, bringing his direct common share holdings to 21,727. He also received options for 20,582 shares at an exercise price of $8.59, expiring in 2036.
Both the RSUs and options will fully vest on the earlier of May 27, 2027, or immediately before Kyverna’s 2027 annual stockholders’ meeting, as long as he remains in continuous service through that date.
Kyverna Therapeutics director Fred E. Cohen reported new equity awards and updated holdings. He received 5,093 shares of common stock as a restricted stock unit award, and 20,582 stock options with an exercise price of $8.59 per share.
The RSUs and options will fully vest on the earlier of May 27, 2027, or immediately before Kyverna’s 2027 annual stockholder meeting, as long as he remains in continuous service through that date. After the grant, he directly holds 21,727 common shares.
The filing also notes an indirect position of 4,523,924 common shares held by Vida Ventures, LLC. Vida Ventures Advisors, LLC serves as investment advisor, and Dr. Cohen and two others may be deemed to share voting and dispositive power but each disclaims beneficial ownership beyond any pecuniary interest.
Kyverna Therapeutics, Inc. director Beth C. Seidenberg reported equity compensation awards rather than open-market trading. She received 5,093 shares of common stock as a restricted stock unit grant, bringing her directly held common stock to 21,727 shares after the award.
She also received a stock option for 20,582 shares of common stock at an exercise price of $8.59 per share, all of which remain outstanding. Both the restricted stock units and the option will fully vest on the earlier of May 27, 2027, or immediately before Kyverna’s 2027 annual stockholder meeting, assuming her continuous service.
Separately from these direct holdings, entities associated with Westlake BioPartners report indirect ownership of 869,317 shares and 3,787,940 shares of Kyverna common stock. Seidenberg has voting and dispositive control over the relevant general partners but disclaims beneficial ownership except for any pecuniary interest.
Kyverna Therapeutics, Inc. Executive Chairperson Christi Shaw reported a routine tax-related share disposition. On May 27, 2026, 4,194 shares of common stock were withheld and surrendered to the company to cover tax withholding obligations arising from a restricted stock unit (RSU) vesting.
The footnote explains this was tied to an RSU award for 16,634 shares that vested in full on May 27, 2026. After the tax-withholding transaction, Shaw directly holds 66,741 shares of Kyverna Therapeutics common stock.
Kyverna Therapeutics director Aktar Mert reported equity awards consisting of restricted stock units and stock options. The filing shows a grant of 5,093 shares of Common Stock as restricted stock units that vest in full on the earlier of May 27, 2027, or immediately before the company’s 2027 annual stockholder meeting, if service continues through that date. Mert also received stock options covering 20,582 shares of Common Stock at an exercise price of $8.59 per share, which become fully vested and exercisable on the same timeline. Following the restricted stock grant, Mert holds 21,727 shares of Common Stock directly.
Kyverna Therapeutics, Inc. reported that Chief Financial Officer Gregory S. Martini received a grant of stock options covering 325,000 shares of common stock. The options have an exercise price of $8.54 per share and expire on May 18, 2036. One quarter of the option grant vests on May 18, 2027, with the remaining shares vesting in equal monthly installments over the following three years, contingent on his continuous service. Following this compensation-related award, Martini holds 325,000 derivative securities directly, with no open-market purchases or sales reported in this filing.
Kyverna Therapeutics, Inc. filed a Form 3 identifying Gregory S. Martini as a reporting person in his role as Chief Financial Officer. The filing does not list any share purchases, sales, acquisitions, dispositions, or derivative exercises, and shows no reported holdings or derivative positions.
Kyverna Therapeutics, Inc. appointed Gregory (Greg) Martini as Chief Financial Officer, effective May 18, 2026, succeeding Marc Grasso, M.D., who will remain as a strategic advisor through August 1, 2026 to support a smooth transition. Martini becomes Kyverna’s principal financial and accounting officer.
Under his offer letter, Martini receives a $525,000 base salary, an annual bonus opportunity equal to 40% of salary (pro‑rated for 2026), and a $300,000 sign‑on bonus, split into two $150,000 payments tied to his start date and first anniversary. He will also be granted a stock option to purchase 325,000 shares of common stock under Kyverna’s 2024 Inducement Equity Incentive Plan, vesting over four years, along with severance and change‑in‑control protections.
Kyverna states that Grasso’s transition is not due to any disagreement over operations or financial reporting. The accompanying press release highlights Martini’s prior CFO role at Ironwood Pharmaceuticals and frames his hire as supporting Kyverna’s evolution into a commercial‑stage company as it advances its CAR T‑cell therapy candidate miv‑cel toward potential approval in autoimmune diseases.