Tenaya Therapeutics Grants Stock Options to New Employees as Part of Employment Offer

Tenaya Therapeutics granted stock options to new employees as part of their employment agreement, promoting heart disease therapies.

Quiver AI Summary

Tenaya Therapeutics Inc., a biotechnology firm focused on developing curative therapies for heart disease, announced the granting of stock options to two new non-executive employees. These options, totaling 202,000 shares, have an exercise price of $1.20 per share, matching the company's stock closing price on September 15, 2025. The options will vest over four years, with 25% vesting after one year and the rest vesting monthly, contingent on continued employment. This grant complies with NASDAQ rules and is part of Tenaya's 2024 Inducement Equity Incentive Plan. Tenaya is advancing several clinical-stage gene therapies aimed at specific types of heart disease and has a pipeline of innovative treatments based on genetic research.

Potential Positives

The granting of stock options to new employees demonstrates Tenaya Therapeutics' commitment to attracting and retaining talent, which is crucial for the company's growth and innovation in the biotechnology sector.
The exercise price of the stock options is aligned with the company's current stock price, indicating a potential for value appreciation tied to the company's success.
This move is compliant with NASDAQ Listing Rule 5635(c)(4), highlighting the company’s adherence to regulatory standards, which reflects positively on its governance practices.

Potential Negatives

The grant of stock options to new employees may indicate challenges in attracting talent without providing competitive financial incentives, raising concerns about the company's ability to sustain growth and innovation.
The need to grant stock options as inducement for new hires could reflect potential difficulties in recruitment or retention of talent, which may impact future operational effectiveness.
Stock options tied to employment may create concerns about employee turnover and associated costs if employees do not remain with the company long enough to vest their options, potentially impacting long-term financial planning.

FAQ

What recent employment changes did Tenaya Therapeutics announce?

Tenaya Therapeutics granted stock options for 202,000 shares to two new non-executive employees as part of their employment commencement.

What is the exercise price of the stock options granted?

The exercise price for the stock options is $1.20 per share, aligning with Tenaya’s stock closing price on September 15, 2025.

How does the vesting schedule for stock options work?

The stock options vest 1/4th on the one-year anniversary of hire and 1/48th monthly thereafter, contingent on continued service.

What is the purpose of the stock options granted?

The stock options were granted as an inducement material to the new employees' acceptance of their positions at Tenaya Therapeutics.

What does Tenaya Therapeutics focus on?

Tenaya Therapeutics focuses on discovering and developing curative therapies for heart disease and has a diverse pipeline of gene therapies.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$TNYA Insider Trading Activity

$TNYA insiders have traded $TNYA stock on the open market 12 times in the past 6 months. Of those trades, 0 have been purchases and 12 have been sales.

Here’s a breakdown of recent trading of $TNYA stock by insiders over the last 6 months:

FARAZ ALI (Chief Executive Officer) has made 0 purchases and 4 sales selling 17,722 shares for an estimated $19,621.
WHITTEMORE TINGLEY (Chief Medical Officer) has made 0 purchases and 4 sales selling 7,990 shares for an estimated $7,631.
TOMOHIRO HIGA (SVP, Finance) has made 0 purchases and 4 sales selling 4,352 shares for an estimated $4,326.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$TNYA Hedge Fund Activity

We have seen 45 institutional investors add shares of $TNYA stock to their portfolio, and 70 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

CASDIN CAPITAL, LLC removed 6,371,002 shares (-94.6%) from their portfolio in Q2 2025, for an estimated $3,893,956
WOODLINE PARTNERS LP removed 5,916,167 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $3,615,961
BLACKROCK, INC. removed 2,523,802 shares (-48.0%) from their portfolio in Q2 2025, for an estimated $1,542,547
JPMORGAN CHASE & CO removed 2,258,512 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $1,380,402
VR ADVISER, LLC removed 1,555,556 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $950,755
AQR CAPITAL MANAGEMENT LLC added 966,569 shares (+124.6%) to their portfolio in Q2 2025, for an estimated $590,766
STATE STREET CORP removed 915,431 shares (-81.4%) from their portfolio in Q2 2025, for an estimated $559,511

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$TNYA Analyst Ratings

Wall Street analysts have issued reports on $TNYA in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

HC Wainwright & Co. issued a "Buy" rating on 09/02/2025
Chardan Capital issued a "Buy" rating on 08/07/2025

To track analyst ratings and price targets for $TNYA, check out Quiver Quantitative's $TNYA forecast page.

$TNYA Price Targets

Multiple analysts have issued price targets for $TNYA recently. We have seen 2 analysts offer price targets for $TNYA in the last 6 months, with a median target of $7.0.

Here are some recent targets:

Joseph Pantginis from HC Wainwright & Co. set a target price of $5.0 on 09/02/2025
Geulah Livshits from Chardan Capital set a target price of $9.0 on 08/07/2025

Full Release

SOUTH SAN FRANCISCO, Calif., Sept. 18, 2025 (GLOBE NEWSWIRE) -- Tenaya Therapeutics Inc. (NASDAQ: TNYA), a clinical-stage biotechnology company with a mission to discover, develop and deliver potentially curative therapies that address the underlying causes of heart disease, today announced that it granted stock options to purchase an aggregate of 202,000 shares of Tenaya common stock to two new non-executive employees in connection with the commencement of their employment. The stock options have an exercise price of $1.20 per share, which is equal to the closing price of Tenaya’s common stock on September 15, 2025. Each stock option has a ten-year term and vests as follows over a total of four years: 1/4 ^th of the original number of shares subject to the stock option shall vest on the one-year anniversary of the employee's date of hire and 1/48 ^th of the original number of shares subject to the stock option shall vest every month thereafter, subject to such employee’s continued service with Tenaya on each such date.

The stock options are subject to the terms and conditions of the Tenaya Therapeutics Inc. 2024 Inducement Equity Incentive Plan and related forms of agreements and were granted as an inducement material to each new employee’s acceptance of employment with Tenaya in accordance with NASDAQ Listing Rule 5635(c)(4).

About Tenaya Therapeutics
Tenaya Therapeutics is a clinical-stage biotechnology company committed to a bold mission: to discover, develop and deliver potentially curative therapies that address the underlying drivers of heart disease. Tenaya’s pipeline includes clinical-stage candidates TN-201, a gene therapy for MYBPC3 -associated hypertrophic cardiomyopathy (HCM) and TN-401, a gene therapy for PKP2 -associated arrhythmogenic right ventricular cardiomyopathy (ARVC). Tenaya has employed a suite of integrated internal capabilities, including modality agnostic target validation, capsid engineering and manufacturing, to generate a portfolio of novel medicines based on genetic insights, including TN-301, a clinical-stage small molecule HDAC6 inhibitor for the potential treatment of heart failure and related cardio/muscular disease, and multiple early-stage programs in preclinical development aimed at the treatment of both rare genetic disorders and more prevalent heart conditions. For more information, visit www.tenayatherapeutics.com .

Contact
Michelle Corral
VP, Corporate Communications and Investor Relations
[email protected]