Tripuraneni Radhika 4

What Happened

• Tripuraneni Radhika, a non-employee director of Terns Pharmaceuticals (TERN), was granted a derivative equity award covering 1,697 shares on 2026-02-01. The Form 4 records the acquisition price as $0.00 and classifies the transaction as an award/grant (code A).
• This award was issued under the company's Non-Employee Director Compensation Policy and was elected in lieu of Radhika's $45,000 cash retainer for 2026. The award is a director compensation grant (not an open-market purchase or sale).

Key Details

• Transaction date: 2026-02-01; Form 4 filed: 2026-02-02 (timely filing).
• Reported acquisition: 1,697 shares (derivative), reported price $0.00.
• Footnote F1: Grant issued under the Non-Employee Director Compensation Policy; elected in lieu of $45,000 cash retainer for 2026.
• Footnote F2: The award is described as an option that vests 1/12th each month beginning January 1, 2026, so it will be fully vested on January 1, 2027.
• Shares owned after the transaction: not specified in the provided filing excerpt.

Context

• This is a compensation grant to a director (not a purchase or sale). Such awards are routine for non-employee directors and reflect compensation choices (cash vs. equity) rather than an immediate buy/sell signal.
• The award is a derivative/option-style grant with a monthly vesting schedule; it was not exercised or sold at the time of the filing.