{"url_path":"/sec/tern/10-k/2026/item-15","section_key":"item-15","section_title":"Item 15 Exhibits and Financial Statement Schedules.","topic":"sec","document":{"doc_type":"10-K/A","doc_date":"2026-04-27","source_url":"https://www.sec.gov/Archives/edgar/data/1831363/0001193125-26-182140-index.html","accession_number":"0001193125-26-182140","cik":"0001831363","ticker":"TERN","issuer_name":"Terns Pharmaceuticals, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1831363/0001193125-26-182140-index.html","primary_entity_key":"0001831363","primary_entity_name":"Terns Pharmaceuticals, Inc."},"word_count":1063,"has_tables":true,"body_markdown":"Item 15. Exhibits and Financial Statement Schedules.\n\n \n\n(a)(1) Financial Statements.\n\n \n\nThe response to this portion of Item 15 is set forth under Part II, Item 8 above.\n\n \n\n(a)(2) Financial Statement Schedules.\n\n \n\nAll schedules have been omitted because they are not required or because the required information is given in the Financial Statements or Notes thereto set forth under Item 8 above.\n\n \n\n(a)(3) Exhibits\n\n \n\nThe exhibits listed in the Exhibit Index below are filed or incorporated by reference as part of this Annual Report.\n\n \n\n \n\n \n\n \n\nIncorporated by Reference\n\n \n\nExhibit\n\nNumber\n\n \n\nExhibit Description\n\nForm\n\nDate\n\nNumber\n\nFiled Herewith\n\n \n\n \n\n \n\n \n\n \n\n   2.1\n\n \n\n[Agreement and Plan of Merger, dated as of March 24, 2026, by and among the Registrant, Merck Sharp & Dohme LLC and Thailand Merger Sub, Inc.](https://www.sec.gov/Archives/edgar/data/1831363/000119312526122785/d86253dex21.htm)\n\n8-K\n\n3/25/2026\n\n2.1\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n   3.1\n\n \n\n[Amended and Restated Certificate of Incorporation.](https://www.sec.gov/Archives/edgar/data/0001831363/000119312521034352/d115818dex31.htm)\n\n8-K\n\n2/9/2021\n\n3.1\n\n \n\n \n\n \n\n \n\n \n\n \n\n   3.2\n\n \n\n[Amended and Restated Bylaws.](https://www.sec.gov/Archives/edgar/data/1831363/000095017023052653/tern-ex3_1.htm)\n\n8-K\n\n10/10/2023\n\n3.1\n\n \n\n \n\n \n\n \n\n \n\n \n\n   4.1\n\n \n\nReference is made to Exhibits 3.1 through 3.2.\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n   4.2\n\n \n\n[Form of Common Stock Certificate.](https://www.sec.gov/Archives/edgar/data/1831363/000119312521023654/d56372dex42.htm)\n\nS-1/A\n\n2/1/2021\n\n4.2\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n   4.3\n\n \n\n[Description of Securities.](https://www.sec.gov/Archives/edgar/data/1831363/000119312526131828/tern-ex4_3.htm)\n\n10-K\n\n3/30/2026\n\n4.3\n\n \n\n \n\n \n\n \n\n \n\n \n\n   4.4\n\n \n\n[Form of Pre-Funded Warrant (September 2024).](https://www.sec.gov/Archives/edgar/data/1831363/000119312524217444/d878008dex41.htm)\n\n8-K\n\n9/12/2024\n\n4.1\n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.1\n\n \n\n[Lease, dated March 1, 2019, by and between the Registrant and DWF IV Century Plaza, LLC.](https://www.sec.gov/Archives/edgar/data/0001831363/000119312521010241/d56372dex102.htm)\n\nS-1\n\n1/15/2021\n\n10.2\n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.2\n\n \n\n[First Amendment to Office Lease dated July 1, 2024.](https://www.sec.gov/Archives/edgar/data/1831363/000095017024081531/tern-ex10_1.htm)\n\n8-K\n\n7/3/2024\n\n10.1\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.3(a)#\n\n \n\n[2017 Equity Incentive Plan, as amended.](https://www.sec.gov/Archives/edgar/data/0001831363/000119312521010241/d56372dex104a.htm)\n\nS-1\n\n1/15/2021\n\n10.4(a)\n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.3(b)#\n\n \n\n[Form of Stock Option Grant Notice and Stock Option Agreement under 2017 Equity Incentive Plan, as amended.](https://www.sec.gov/Archives/edgar/data/0001831363/000119312521010241/d56372dex104b.htm)\n\nS-1\n\n1/15/2021\n\n10.4(b)\n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.3(c)#\n\n \n\n[Form of Early Exercise Stock Option Grant Notice and Stock Option Agreement under 2017 Equity Incentive Plan, as amended.](https://www.sec.gov/Archives/edgar/data/0001831363/000119312521010241/d56372dex104c.htm)\n\nS-1\n\n1/15/2021\n\n10.4(c)\n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.3(d)#\n\n \n\n[Form of International Stock Option Grant Notice and Stock Option Agreement under 2017 Equity Incentive Plan, as amended.](https://www.sec.gov/Archives/edgar/data/0001831363/000119312521010241/d56372dex104d.htm)\n\nS-1\n\n1/15/2021\n\n10.4(d)\n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.4(a)#\n\n \n\n[2021 Incentive Award Plan.](https://www.sec.gov/Archives/edgar/data/0001831363/000119312521041825/d137290dex992a.htm)\n\nS-8\n\n2/12/2021\n\n99.2(a)\n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.4(b)#\n\n \n\n[Form of Stock Option Grant Notice and Stock Option Agreement under the 2021 Incentive Award Plan.](https://www.sec.gov/Archives/edgar/data/1831363/000119312521023654/d56372dex105b.htm)\n\nS-1/A\n\n2/1/2021\n\n10.5(b)\n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.4(c)#\n\n \n\n[Form of Restricted Stock Award Grant Notice and Restricted Stock Award Agreement under the 2021 Incentive Award Plan.](https://www.sec.gov/Archives/edgar/data/1831363/000119312521023654/d56372dex105c.htm)\n\nS-1/A\n\n2/1/2021\n\n10.5(c)\n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.4(d)#\n\n \n\n[Form of Restricted Stock Unit Award Grant Notice and Restricted Stock Unit Award Agreement under the 2021 Incentive Award Plan.](https://www.sec.gov/Archives/edgar/data/1831363/000119312521023654/d56372dex105d.htm)\n\nS-1/A\n\n2/1/2021\n\n10.5(d)\n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.5#\n\n \n\n[2021 Employee Stock Purchase Plan.](https://www.sec.gov/Archives/edgar/data/0001831363/000119312521041825/d137290dex993.htm)\n\nS-8\n\n2/12/2021\n\n99.3\n\n \n\n \n\n \n\n \n\n \n\n \n\n22\n\n \n\n 10.6(a)#\n\n \n\n[2022 Employment Inducement Award Plan](https://www.sec.gov/Archives/edgar/data/1831363/000095017022023982/tern-ex10_1a.htm).\n\n10-Q\n\n11/9/2022\n\n10.1(a)#\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.6(b)#\n\n \n\n \n\n[Form of Stock Option Grant Notice and Stock Option Agreement under the 2022 Employment Inducement Award Plan.](https://www.sec.gov/Archives/edgar/data/1831363/000095017022023982/tern-ex10_1b.htm)\n\n10-Q\n\n \n\n11/9/2022\n\n \n\n10.1(b)#\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.6(c)#\n\n \n\n[Form of Restricted Stock Unit Award Grant Notice and Restricted Stock Unit Award Agreement under the 2022 Employment Inducement Award Plan.](https://www.sec.gov/Archives/edgar/data/1831363/000095017022023982/tern-ex10_1c.htm)\n\n10-Q\n\n11/9/2022\n\n10.1(c)#\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.6(d)#\n\n \n\n[Amendment No. 1 to 2022 Employment Inducement Award Plan.](https://www.sec.gov/Archives/edgar/data/1831363/000095017023063380/tern-ex10_2.htm)\n\n10-Q\n\n11/14/2023\n\n10.2#\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.6(e)#\n\n \n\n[Amendment No. 2 to 2022 Employment Inducement Award Plan.](https://www.sec.gov/Archives/edgar/data/1831363/000095017024125584/tern-ex10_3.htm)\n\n10-Q\n\n11/12/2024\n\n10.3#\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.6(f)#\n\n \n\n[Amendment No. 3 to 2022 Employment Inducement Award Plan.](https://www.sec.gov/Archives/edgar/data/1831363/000119312526131828/tern-ex10_6f.htm)\n\n10-K\n\n3/30/2026\n\n10.6(f)#\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.7#\n\n \n\n[Second Amended and Restated Non-Employee Director Compensation Program, as amended.](https://www.sec.gov/Archives/edgar/data/1831363/000119312526131828/tern-ex10_7.htm)\n\n10-K\n\n3/30/2026\n\n10.7#\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.8\n\n \n\n[Form of Indemnification Agreement for directors and officers.](https://www.sec.gov/Archives/edgar/data/1831363/000119312521023654/d56372dex1011.htm)\n\nS-1/A\n\n2/1/2021\n\n10.11\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.9#\n\n \n\n[Employment Agreement by and between the Registrant and Amy Burroughs dated February 7, 2024.](https://www.sec.gov/Archives/edgar/data/1831363/000095017024058672/tern-ex10_2.htm)\n\n10-Q\n\n5/13/2024\n\n10.2#\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.10#\n\n \n\n[Employment Agreement, dated February 22, 2025, by and between the Registrant and Andrew Gengos.](https://www.sec.gov/Archives/edgar/data/1831363/000095017025067003/tern-ex10_2.htm)\n\n10-Q\n\n5/8/2025\n\n10.2\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.11#\n\n \n\n[Employment Agreement by and between the Registrant and Emil Kuriakose dated March 14, 2023.](https://www.sec.gov/Archives/edgar/data/1831363/000119312526131828/tern-ex10_11.htm)\n\n10-K\n\n3/30/2026\n\n10.11#\n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.12#\n\n \n\n[Amended and Restated Employment Agreement by and between the Registrant and Mark Vignola.](https://www.sec.gov/Archives/edgar/data/1831363/000095017024031497/tern-ex10_10.htm)\n\n10-K\n\n3/14/2024\n\n10.10#\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.13#\n\n \n\n[Transition Agreement between Terns, Inc. and Mark Vignola dated July 23, 2024.](https://www.sec.gov/Archives/edgar/data/1831363/000095017024125584/tern-ex10_2.htm)\n\n10-Q\n\n11/12/2024\n\n10.2#\n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.14#\n\n \n\n[Consulting Agreement, dated February 1, 2025, by and between the Registrant and Mark Vignola.](https://www.sec.gov/Archives/edgar/data/1831363/000095017025067003/tern-ex10_1.htm)\n\n10-Q\n\n5/8/2025\n\n10.1#\n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.15†\n\n \n\n[Assignment Agreement, dated as of June 24, 2019, by and among Terns Pharmaceuticals, Inc. and Vintagence Biotechnology Ltd.](https://www.sec.gov/Archives/edgar/data/1831363/000119312521010241/d56372dex1015.htm)\n\nS-1\n\n1/15/2021\n\n10.15\n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.16†\n\n \n\n[Exclusive Option and License, dated as of July 27, 2020, by and among Terns Pharmaceuticals, Inc., Terns, Inc., CaspianTern LLC, Hansoh (Shanghai) Healthtech Co., Ltd. and Jiangsu Hansoh Pharmaceutical Group Company Ltd.](https://www.sec.gov/Archives/edgar/data/1831363/000119312521010241/d56372dex1016.htm)\n\nS-1\n\n1/15/2021\n\n10.16\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n 10.17#\n\n \n\nReference is made to Exhibit 97.0.\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n 19.1\n\n \n\n[Terns Pharmaceuticals, Inc. Insider Trading Policy.](https://www.sec.gov/Archives/edgar/data/1831363/000095017025042695/tern-ex19_1.htm)\n\n10-K\n\n3/20/2025\n\n19.1\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n 21.1\n\n \n\n[List of subsidiaries.](https://www.sec.gov/Archives/edgar/data/0001831363/000119312521010241/d56372dex211.htm)\n\nS-1\n\n1/15/2021\n\n21.1\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n 23.1\n\n \n\n[Consent of Ernst & Young LLP, independent registered public accounting firm.](https://www.sec.gov/Archives/edgar/data/1831363/000119312526131828/tern-ex23_1.htm)\n\n10-K\n\n3/30/2026\n\n23.1\n\n \n\n \n\n \n\n \n\n \n\n \n\n 24.1\n\n \n\n[Power of Attorney. Reference is made to the signature page hereto.](https://www.sec.gov/ix?doc=/Archives/edgar/data/1831363/000119312526131828/tern-20251231.htm#power_attorney)\n\n10-K\n\n3/30/2026\n\n24.1\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n 31.1\n\n[Certification of Principal Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.](https://www.sec.gov/Archives/edgar/data/1831363/000119312526131828/tern-ex31_1.htm)\n\n10-K\n\n3/30/2026\n\n31.1\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n 31.2\n\n[Certification of Principal Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.](https://www.sec.gov/Archives/edgar/data/1831363/000119312526131828/tern-ex31_2.htm)\n\n10-K\n\n3/30/2026\n\n31.2\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n23\n\n \n\n31.3\n\n \n\n[Certification of Principal Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.](tern-ex31_3.htm)\n\n \n\n \n\n \n\nX\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n31.4\n\n \n\n[Certification of Principal Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.](tern-ex31_4.htm)\n\n \n\n \n\n \n\nX\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n 32.1^\n\n[Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.](https://www.sec.gov/Archives/edgar/data/1831363/000119312526131828/tern-ex32_1.htm)\n\n10-K\n\n3/30/2026\n\n32.1^\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n 32.2^\n\n[Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.](https://www.sec.gov/Archives/edgar/data/1831363/000119312526131828/tern-ex32_2.htm)\n\n10-K\n\n3/30/2026\n\n32.2^\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n 97.0#\n\n \n\n[Clawback Policy.](https://www.sec.gov/Archives/edgar/data/1831363/000095017023063380/tern-ex10_3.htm)\n\n10-Q\n\n11/14/2023\n\n10.3#\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n101.INS\n\n \n\nInline XBRL Instance Document\n\n \n\n \n\n \n\nX\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n101.SCH\n\n \n\nInline XBRL Taxonomy Extension Schema With Embedded Linkbase Documents\n\n \n\n \n\n \n\nX\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n104\n\n \n\nCover Page Interactive Data File (embedded within the Inline XBRL document)\n\n \n\n \n\n \n\nX\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n# Indicates management contract or compensatory plan.\n\n \n\n† Certain portions of this document that constitute confidential information have been redacted in accordance with Regulation S-K, Item 601(b)(10).\n\n^ The certification that accompanies this Annual Report on Form 10-K pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, is not deemed “filed” by the Registrant for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.\n\n24\n\n \n\nSIGNATURES\n\nPursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.\n\n \n\n \n\nTERNS PHARMACEUTICALS, INC.\n\n \n\nDate: April 27, 2026\n\nBy:\n\n /s/ Amy Burroughs\n\n \n\nAmy Burroughs\n\n \n\nChief Executive Officer\n\n \n\n \n\n25"}