Richey William Drake 4

What Happened
Richey William Drake, a director of Tempest Therapeutics, was granted a derivative award of 25,000 shares on 2026-06-04. The filing lists the acquisition price as $0.00 and classifies the transaction as an award/grant (code A). The filing’s footnote characterizes these awards as stock options and specifies a multi-year vesting schedule.

Key Details

• Transaction date: 2026-06-04; Filing date: 2026-06-08.
• Award: 25,000 derivative shares (reported at $0.00).
• Vesting: 3-year schedule — one-third vests on the first anniversary, remainder vests in equal monthly installments thereafter, subject to continued service (per footnote).
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Transaction type: Award/Grant (A). No sale or exercise reported.
• Timeliness: filing occurred four days after the grant (you may compare to the SEC’s two-business-day Form 4 deadline).

Context
This was a grant of derivative securities (the filing’s footnote identifies them as stock options) that vest over time; it does not represent an immediate cash purchase or sale. Such awards are common for directors and are typically intended to align long-term incentives; they do not by themselves signal an intent to buy or sell shares in the open market.