Tempest Therapeutics appoints John Frederick director
Frederick’s initial director compensation includes an option to purchase 25,000 shares, subject to the award agreement and compensation policy.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
Effective October 13, 2026, Tempest Therapeutics, Inc. appointed John Frederick as a Class III director. He will serve until the 2027 annual meeting and until a successor is elected and qualified, unless he leaves earlier. Frederick has more than three decades of executive experience and served as Skillsoft’s Chief Financial Officer from May 2025 to September 2026. His non-employee director compensation includes an initial option award to purchase 25,000 shares under Tempest’s 2023 Equity Incentive Plan, subject to the applicable award agreement and compensation policy.
Tempest’s forward-looking statements list its need for additional capital to fund planned programs and operations and continue operating as a going concern among the risks.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- None.
Negative
- Major point. Forward-looking: it has not happened yet and may not happen.Tempest cites additional capital needs to continue operating as a going concern.
8-K Event Classification
Key Figures
Key Terms
in vivo CAR-T therapies medical
dual-targeting CD19/BCMA CAR structure medical
CD7-targeting delivery system medical
FAQ
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How many options will John Frederick receive from TPST?
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
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).
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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 Director
Effective October 13, 2026, the Board of Directors (the “Board”) of Tempest Therapeutics, Inc. (the “Company”) appointed Mr. John Frederick as a Class III director of the Board. Mr. Frederick will serve until the Company’s 2027 annual meeting of stockholders and until his successor is duly elected and qualified, or until his earlier death, resignation or removal.
John Frederick, age 62, is a retired senior financial and operating executive with more than three decades of leadership experience across public, private equity-backed and venture-backed companies, principally in technology and technology-enabled businesses. From May 2025 to September 2026, he served as Chief Financial Officer of Skillsoft Corp. (NYSE: SKIL) (“Skillsoft”) and previously, beginning in August 2024, he served as Skillsoft’s Chief Transformation Officer, a position in which he oversaw Skillsoft’s business planning. From September 2021 to February 2024, prior to his employment at Skillsoft, Mr. Frederick also held strategic leadership positions of increasing responsibility at Indigo Ag, Inc., an agriculture technology company, including Global Head of Carbon Commercial Operations and Chief Financial Officer, where he helped scale the business through a considerable growth phase while reducing core costs and deleveraging the business. Mr. Frederick acted as an advisor to Indigo Ag, Inc. from March 2021 through September 2021. Mr. Frederick previously held senior positions at a predecessor Skillsoft entity, serving as Chief Administrative Officer from November 2018 to June 2021 and simultaneously serving as Chief Executive Officer of SumTotal Systems LLC, a former subsidiary of that entity, from September 2019 to June 2021. In those roles, he led Skillsoft’s transformation efforts. Among other roles, he has previously held senior finance and administrative roles in several consumer product and technology companies as well as a predecessor company to a prominent “Big 4” public accounting firm. Mr. Frederick has served as a member of the Board of Directors of SenSanna, Inc., an early-stage sensor technology business, since August 2016. He has more than twenty years of experience leading financial, operational and administrative functions within private and public companies ranging from start-ups through companies with revenue of more than $2 billion. Mr. Frederick holds a Bachelor of Arts in Economics from the University of Maryland Baltimore County.
As a non-employee director, Mr. Frederick will be compensated in accordance with the Company’s Non-Employee Director Compensation Policy (the “Compensation Policy”). Pursuant to the Compensation Policy, Mr. Frederick will receive compensation in connection with his service as a non-employee director, including an initial option award to purchase 25,000 shares of the Company’s common stock under the Company’s 2023 Equity Incentive Plan, subject to the terms and conditions of the applicable award agreement and the Compensation Policy. Mr. Frederick has entered into the Company’s standard form of indemnification agreement, the form of which was previously filed by the Company.
There are no arrangements or understandings between Mr. Frederick and any other person pursuant to which he was appointed as a director of the Company, there are no family relationships between Mr. Frederick and any of the Company’s directors or executive officers, and there are no transactions involving Mr. Frederick requiring disclosure under Item 404(a) of Regulation S-K.
1
Item 7.01. Regulation FD Disclosure.
On October 14, 2026, the Company issued a press release entitled “Tempest Appoints John W. Frederick to Board of Directors, Strengthening Financial and Capital Markets Expertise.” A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information furnished in this Item 7.01 (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly provided by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Number | Description | |
| 99.1 | Press Release, dated October 14, 2026, furnished herewith. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
2
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.
| TEMPEST THERAPEUTICS, INC. | ||
| Date: October 19, 2026 | By: | /s/ Matthew Angel |
| Name: | Matthew Angel | |
| Title: | President and Chief Executive Officer | |
3
Exhibit 99.1
Tempest Appoints John W. Frederick to Board of Directors, Strengthening Financial and Capital Markets Expertise
Brisbane, CA, October 14, 2026 – Tempest Therapeutics, Inc. (Nasdaq: TPST) (“Tempest”), a clinical-stage biotechnology company developing in vivo CAR-T therapies designed to reset dysfunctional immunity in cancer and autoimmune disease, today announced that John W. Frederick has been appointed to its board of directors. Mr. Frederick brings extensive executive leadership experience spanning financial strategy, capital markets, corporate governance and operational transformation across public and private companies.
“We are delighted to welcome John to our board as we enter an important phase in Tempest’s evolution,” said Matt Angel, Ph.D., President and Chief Executive Officer of Tempest. “His extensive experience leading public companies, optimizing capital structures and navigating complex financial environments will bring valuable perspective to our board. We believe his financial acumen and strategic leadership will be particularly valuable as we prioritize disciplined capital deployment, achieve key development milestones with our in vivo CAR-T programs and position the company for long-term success.”
Mr. Frederick added, “I am excited to join Tempest’s board of directors at such a pivotal time in its development. The Company’s innovative approach to in vivo CAR-T therapy represents a compelling opportunity to transform treatment for patients with significant unmet needs across multiple disease types. I look forward to working alongside the board and leadership team to support the company’s strategic priorities, advance its promising pipeline and help build a strong foundation for sustainable, long-term growth and shareholder value.”
Mr. Frederick brings more than three decades of executive leadership experience spanning corporate finance, capital markets, operations and strategic transformation across public and private companies ranging from emerging businesses to enterprises generating more than $2 billion in annual revenue.
Most recently, he served as Chief Financial Officer of Skillsoft, where he was responsible for financial reporting, investor relations, capital markets and liquidity strategy. He previously served as Skillsoft’s Chief Transformation Officer and, during an earlier tenure, as Chief Administrative Officer and Chief Executive Officer of its former subsidiary, SumTotal Systems. His experience also includes serving as Chief Financial Officer and Global Head of Carbon Commercial Operations at Indigo Ag, where he helped scale the business through a considerable growth phase while meaningfully reducing its cost structure, and as Chief Operating and Financial Officer of Snagajob, a leading technology platform serving the hourly employment market.
Mr. Frederick currently serves on the board of directors of MutualOne Bank and has served on the board of SenSanna, Inc. since 2016. He holds a B.A. in Economics from the University of Maryland.
About Tempest Therapeutics
Tempest is a clinical-stage biotechnology company developing next-generation in vivo CAR-T therapies for cancer and autoimmune disease. Tempest’s lead product candidate, TPST-4003, combines a clinically supported dual-targeting CD19/BCMA CAR structure with an advanced CD7-targeting delivery system to support broad immune reset across multiple indications. Tempest envisions a world in which immune reset therapies bring safe, effective, and broadly accessible therapeutic options to patients in need. For additional information, visit Tempest’s website at https://www.tempesttx.com.
Forward-Looking Statements
This press release contains forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended), concerning Tempest. These statements may discuss goals, intentions, and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of Tempest, as well as assumptions made by, and information currently available to, management of Tempest. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “could”, “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” “goal”, “suggest”, “target” and other similar expressions. All statements that are not historical facts are forward-looking statements, including but not limited to, statements regarding: the anticipated contribution of the newly appointed director; the strategic growth, capital allocation and long-term success of Tempest; and Tempest’s ability to achieve its operational plans. All forward-looking statements in this press release are based on Tempest’s current expectations, estimates and projections about its industry as well as management’s current beliefs and expectations of future events only as of today and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to Tempest’s need for additional capital to fund its planned programs and operations and to continue to operate as a going concern; unexpected safety or efficacy data observed during preclinical or clinical trials; the possibility that results from prior clinical trials and preclinical studies may not necessarily be predictive of future results; past results may not be indicative of future results; clinical trial site activation or enrollment rates that are lower than expected; loss of key personnel; changes in expected or existing competition; changes in the regulatory environment; risks relating to volatility and uncertainty in the capital markets for biotechnology companies; and unexpected litigation or other disputes. These and other factors that may cause actual results to differ from those expressed or implied are discussed in greater detail in the “Risk Factors” section of Tempest’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (“SEC”) on March 30, 2026, and in other documents filed by Tempest from time to time with the SEC. Except as required by applicable law, Tempest undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing Tempest’s views as of any date subsequent to the date of this press release and should not be relied upon as prediction of future events. In light of the foregoing, investors are urged not to rely on any forward-looking statement in reaching any conclusion or making any investment decision about any securities of Tempest.
Investor Contacts:
Sylvia Wheeler
Wheelhouse Life Science Advisors
swheeler@wheelhouselsa.com
Aljanae Reynolds
Wheelhouse Life Science Advisors
areynolds@wheelhouselsa.com