Eric Hyllengren to lead finances at Tenaya Therapeutics (NASDAQ: TNYA)
Rhea-AI Filing Summary
Tenaya Therapeutics, Inc. has appointed Eric Hyllengren as Chief Financial Officer, effective July 13, 2026. He will also serve as Principal Financial Officer and Principal Accounting Officer, overseeing financial strategy, capital allocation, investor relations and corporate development.
Hyllengren brings more than two decades of biotechnology finance and strategy experience, including senior roles at Zura Bio, Atara Biotherapeutics and Amgen, where he executed over $500 million in public financings. His compensation includes a $490,000 base salary, a target bonus equal to 40% of base salary and an option to purchase 1,650,000 shares under Tenaya’s 2024 Inducement Equity Incentive Plan, subject to board approval and time-based vesting.
President and CEO Faraz Ali will cease serving as interim Principal Financial Officer, and Senior Vice President, Finance, Tomohiro (Hiro) Higa will cease serving as acting interim Principal Accounting Officer and retire in the third quarter of 2026, remaining as a consultant to support a smooth transition.
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8-K Event Classification
Key Figures
Key Terms
Principal Financial Officer financial
Principal Accounting Officer financial
2024 Inducement Equity Incentive Plan financial
Executive Change in Control Severance Plan financial
Regulation FD Disclosure regulatory
clinical-stage biotechnology company financial
FAQ
Who is Tenaya Therapeutics’ new Chief Financial Officer (TNYA)?
Tenaya Therapeutics appointed Eric Hyllengren as Chief Financial Officer, effective July 13, 2026. He will also serve as Principal Financial Officer and Principal Accounting Officer, bringing over two decades of biotechnology finance, capital markets and corporate strategy experience from Zura Bio, Atara Biotherapeutics and Amgen.
What are the key compensation terms for Tenaya’s new CFO, Eric Hyllengren?
Eric Hyllengren will receive a $490,000 annual base salary and a target annual bonus equal to 40% of base salary. He is also eligible for an option to purchase 1,650,000 shares under the 2024 Inducement Equity Incentive Plan, subject to board or committee approval.
How do Eric Hyllengren’s stock options at Tenaya Therapeutics vest?
The option to purchase 1,650,000 Tenaya shares will vest as follows: one-quarter of the shares vest on the first anniversary of the grant date, and the remaining shares vest in equal monthly installments over the next three years, subject to continued service to the company.
What leadership changes accompany the CFO appointment at Tenaya Therapeutics (TNYA)?
With Eric Hyllengren’s arrival, CEO Faraz Ali will stop serving as interim Principal Financial Officer, and Tomohiro (Hiro) Higa will cease serving as acting interim Principal Accounting Officer. Higa plans to retire in the third quarter of 2026 but will stay on as a consultant.
What prior experience does Tenaya’s new CFO, Eric Hyllengren, bring?
Eric Hyllengren previously served as CFO and Executive Vice President at Zura Bio and as CFO and COO at Atara Biotherapeutics, where he executed more than $500 million in public financings. Earlier, he held senior finance and business development roles over 15 years at Amgen.
Will Tenaya’s new CFO participate in any severance or change-in-control plan?
As an executive, Eric Hyllengren will be eligible to participate in Tenaya’s Executive Change in Control Severance Plan. Severance benefits for qualifying terminations are described in Tenaya’s 2026 Annual Meeting proxy statement filed with the SEC on April 16, 2026.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Chief Financial Officer and Transition of Principal Financial Officer and Principal Accounting Officer
On June 29, 2026, Tenaya Therapeutics, Inc. (the “Company”) announced that Eric Hyllengren, M.B.A., will join the Company as Chief Financial Officer on July 13, 2026 (the “Commencement Date”), and in such capacity, will serve as the Company’s Principal Financial Officer and Principal Accounting Officer beginning on the Commencement Date.
Prior to joining the Company, Mr. Hyllengren, age 51, served as Chief Financial Officer at Zura Bio Ltd. from July 2025 until April 2026. Mr. Hyllengren spent seven years at Atara Biotherapeutics, Inc. (“Atara”), most recently serving in the role of Chief Financial Officer and Chief Operating Officer, from April 2023 and October 2024, respectively, until April 2025, and was previously Atara’s Vice President of Finance and Investor Relations from August 2018 until April 2023. Earlier in his career, Mr. Hyllengren held roles of increasing responsibility across finance, investor relations, and business development at Amgen Inc., where he was most recently Executive Director of Business Development and Head of Alliance Management from 2017 to 2018. Mr. Hyllengren holds a B.B.A. in Finance and Russian from the University of Notre Dame and an M.B.A. in Finance and Strategy from the Kellogg School of Management at Northwestern University.
There is no arrangement or understanding between Mr. Hyllengren and any other person pursuant to which he was appointed to such roles. Mr. Hyllengren has no family relationship with any director or executive officer of the Company, and there are no transactions between Mr. Hyllengren and the Company that would require disclosure pursuant to Item 404(a) of Regulation S-K promulgated under the Securities Exchange Act of 1934, as amended.
Effective as of immediately prior to the Commencement Date, Faraz Ali, M.B.A., the Company’s President and Chief Executive Officer, will cease serving as interim Principal Financial Officer, and Tomohiro Higa, the Company’s Senior Vice President, Finance, will cease serving as acting interim Principal Accounting Officer.
Employment Arrangements for Mr. Hyllengren
Pursuant to the terms of a written offer letter, dated June 18, 2026, by and between the Company and Mr. Hyllengren (the “Offer Letter”), Mr. Hyllengren will receive an annual base salary of $490,000, and will be eligible to receive a target annual bonus equal to 40% of his base salary.
Pursuant to the Offer Letter, subject to approval from the Company’s board of directors or Compensation Committee, the Company will grant to Mr. Hyllengren an option (the “Option”) to purchase 1,650,000 shares of the Company’s common stock (the “Common Stock”) pursuant to the Company’s 2024 Inducement Equity Incentive Plan (the “2024 Inducement Plan”). The Option will have an exercise price equal to the Fair Market Value (as defined in the 2024 Inducement Plan) and a term of 10 years from the grant date. The Option will vest with respect to 1/4th of the shares subject to the Option on the first anniversary of the grant date and 1/48th of the shares subject to the Option will vest monthly thereafter, subject to Mr. Hyllengren’s continued service to the Company through each applicable vesting date.
In addition, subject to approval from the Company’s board of directors or Compensation Committee, Mr. Hyllengren, as an Executive of the Company, will be eligible to participate in the Company’s Executive Change in Control Severance Plan (“Severance Plan”). A description of severance benefits payable upon a termination of employment in certain circumstances is included in the Company’s proxy statement for the 2026 Annual Meeting of Stockholders, filed with the Securities and Exchange Commission (the “SEC”) on April 16, 2026.
The foregoing descriptions of the Offer Letter and Severance Plan are summaries and are qualified in their entirety by reference to the Offer Letter, which is filed as Exhibit 10.1 to this Current Report on Form 8-K (“Current Report”).
Mr. Hyllengren will have the opportunity to enter into the Company’s form of Indemnification Agreement for its directors and officers.
Item 7.01 Regulation FD Disclosure
On June 29, 2026, the Company issued a press release announcing Mr. Hyllengren’s appointment as Chief Financial Officer. A copy of the press release is furnished as Exhibit 99.1 to this Current Report. The information in this Item 7.01, including Exhibit 99.1 attached hereto shall not be deemed “filed” for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
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Description |
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Offer Letter by and between the Company and Eric Hyllengren, dated as of June 18, 2026 |
99.1 |
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Press Release dated June 29, 2026 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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TENAYA THERAPEUTICS, INC. |
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/s/ Jennifer Drimmer Rokovich |
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Jennifer Drimmer Rokovich |
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General Counsel and Secretary |
Date: June 29, 2026 |
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Exhibit 99.1
Tenaya Therapeutics Appoints Eric Hyllengren as
Chief Financial Officer
Experienced Industry Leader Brings Two Decades of Finance, Strategic
and Operational Expertise
SOUTH SAN FRANCISCO, Calif., June 29, 2026 – 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 the appointment of Eric Hyllengren as Chief Financial Officer, effective July 13, 2026. In this role, he will oversee financial strategy, capital allocation, investor relations and corporate development.
“We are excited to welcome Eric to our leadership team as he is a highly accomplished finance executive with a proven track record of guiding organizations through a variety of strategic clinical and corporate developments, including a background in the cell and gene therapy space,” said Faraz Ali, Chief Executive Officer of Tenaya. “As Tenaya advances its genetic medicines for heart disease toward pivotal clinical trials and seeks to develop its next horizon of cardiovascular disease medicines, we expect Eric’s deep expertise in finance, business development, and operations will be invaluable in creating long-term value for patients and shareholders.”
“I am thrilled to join Tenaya at such a vital time in its evolution,” said Mr. Hyllengren. “With two programs demonstrating promising safety and efficacy clinical data, a third candidate with broad potential utility poised to advance, and deep cardiovascular target discovery expertise, Tenaya is well positioned to capitalize on the opportunity to transform the treatment of heart conditions. I look forward to partnering closely with the leadership team to execute on Tenaya’s strategic priorities, optimize capital allocation, and support the advancement of its promising therapies.”
Mr. Hyllengren brings more than two decades of experience in biotechnology finance, capital markets, and corporate strategy. He most recently served as Chief Financial Officer and Executive Vice President of Zura Bio, where he helped strengthen the company’s financial position to support its clinical development programs. Prior to Zura Bio, he served as Chief Financial Officer and Chief Operating Officer at Atara Biotherapeutics, where he executed more than $500 million in public financings and guided the company through significant organizational transformation. Earlier in his career, Mr. Hyllengren held roles of increasing responsibility across finance, investor relations and business development over the course of fifteen years at Amgen.
Mr. Hyllengren holds a Master of Business Administration from the Kellogg School of Management at Northwestern University and a Bachelor of Business Administration from the University of Notre Dame.
Tenaya also announced the retirement of Hiro Higa, Senior Vice President, Finance at Tenaya Therapeutics in the third quarter of 2026. Mr. Higa’s retirement is unrelated to Mr. Hyllenger’s hire; he will remain with Tenaya and continue to serve as a consultant to facilitate a smooth transition of the finance and accounting function.
Reflecting on Mr. Hiro’s departure, Mr. Ali said, “During his six-year tenure at Tenaya, Hiro contributed significantly to the establishment of its financial infrastructure, directed all financial planning activities and played a key role in guiding Tenaya through its initial public offering. We are deeply grateful for his many contributions and wish him all the best in his retirement.”
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); TN-401, a gene therapy for PKP2-associated arrhythmogenic right ventricular cardiomyopathy (ARVC); and TN-301, a highly specific small molecule HDAC6 inhibitor with broad potential clinical utility in cardiac, metabolic and muscular conditions, including heart failure with preserved ejection fraction (HFpEF) and Duchenne muscular dystrophy (DMD). Tenaya has employed a suite of integrated internal capabilities including modality agnostic target discovery and validation, to generate a portfolio of novel medicines based on genetic insights, aimed at the treatment of both rare genetic disorders and more prevalent heart conditions. For more information, visit www.tenayatherapeutics.com.
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