BURROUGHS AMY L. (Chief Executive Officer) sold 19.2% of their position (68.75K shares) of TERNS PHARMACEUTICALS, INC. on the open market

Open‑market sale worth $2.55M — a significant reduction. Review remaining holdings and any 10b5‑1 plan disclosures.

S · 2 sales

BURROUGHS AMY L.

Filed: 1/16/2026ACC: 0001872564-26-000004

InsiderBURROUGHS AMY L.CIK 1872564

→

IssuerTERNS PHARMACEUTICALS, INC.CIK 1831363

DirectorOfficer· Chief Executive Officer

Since Feb 2026

+381.25K

Net shares

Net buyer

$2.55M

Total sold

Open market trades

0B · 2S

Total transactions

518.75K acquired · 137.50K disposed

Non-Derivative Transactions6

Common Stock

Direct

A · Award

+150K

Price / share

—

Trade value

—

% of position

107.9%

1/14/2026

138.98K→288.98K

Common Stock

Direct

M · Option Exercise

+27.08K

Price / share

$4.64

Trade value

$125.67K

% of position

9.4%

1/15/2026

288.98K→316.06K

Common Stock

Direct

M · Option Exercise

+27.08K

Price / share

$4.64

Trade value

$125.67K

% of position

8.6%

1/15/2026

316.06K→343.14K

Common Stock

Direct

M · Option Exercise

+14.58K

Price / share

$4.64

Trade value

$67.67K

% of position

4.2%

1/15/2026

343.14K→357.73K

Common Stock

Direct

S · Sale

−61.23K

Price / share

$37.02

Trade value

$2.27M

% of position

17.1%

1/15/2026

357.73K→296.50K

Common Stock

Direct

S · Sale

−7.52K

Price / share

$37.53

Trade value

$282.23K

% of position

2.5%

1/15/2026

296.50K→288.98K

Total

Net shares

+150K

Net value

-$2.23M

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Direct	1/14/2026	A · Award	+150K	—	—	107.9%	138.98K	288.98K
Common Stock Direct	1/15/2026	M · Option Exercise	+27.08K	$4.64	$125.67K	9.4%	288.98K	316.06K
Common Stock Direct	1/15/2026	M · Option Exercise	+27.08K	$4.64	$125.67K	8.6%	316.06K	343.14K
Common Stock Direct	1/15/2026	M · Option Exercise	+14.58K	$4.64	$67.67K	4.2%	343.14K	357.73K
Common Stock Direct	1/15/2026	S · Sale	−61.23K	$37.02	$2.27M	17.1%	357.73K	296.50K
Common Stock Direct	1/15/2026	S · Sale	−7.52K	$37.53	$282.23K	2.5%	296.50K	288.98K
Total			+150K		-$2.23M

Derivative Transactions4

Stock Option (Right to Buy)

Direct

A · Award

Converts to

Common Stock

300K shares

+300K

Strike price

37.18

Held after

300K

Exercisable

—

1/14/2026

Stock Option (Right to Buy)

Direct

M · Option Exercise

Converts to

Common Stock

27.08K shares

−27.08K

Strike price

4.64

Held after

1.03M

Exercisable

—

1/15/2026

Stock Option (Right to Buy)

Direct

M · Option Exercise

Converts to

Common Stock

27.08K shares

−27.08K

Strike price

4.64

Held after

999.28K

Exercisable

—

1/15/2026

Stock Option (Right to Buy)

Direct

M · Option Exercise

Converts to

Common Stock

14.58K shares

−14.58K

Strike price

4.64

Held after

984.70K

Exercisable

—

1/15/2026

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Stock Option (Right to Buy) Direct	Common Stock300K shares	1/14/2026	A · Award	+300K	37.18	—	300K
Stock Option (Right to Buy) Direct	Common Stock27.08K shares	1/15/2026	M · Option Exercise	−27.08K	4.64	—	1.03M
Stock Option (Right to Buy) Direct	Common Stock27.08K shares	1/15/2026	M · Option Exercise	−27.08K	4.64	—	999.28K
Stock Option (Right to Buy) Direct	Common Stock14.58K shares	1/15/2026	M · Option Exercise	−14.58K	4.64	—	984.70K

Non-Derivative Holdings (Post-Transaction)1

Common Stock

Indirect

Shares owned8.32K

Total

8.32K indirect8.32K

Security Title	Shares Owned	Ownership Type
Common Stock	8.32K	Indirect
Total	8.32K	8.32K indirect

Derivative Holdings (Post-Transaction)0

No derivative holdings reported