<SEC-DOCUMENT>0001567619-21-002204.txt : 20210204
<SEC-HEADER>0001567619-21-002204.hdr.sgml : 20210204
<ACCEPTANCE-DATETIME>20210204171604
ACCESSION NUMBER:		0001567619-21-002204
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20210204
FILED AS OF DATE:		20210204
DATE AS OF CHANGE:		20210204

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Sundaram Senthil Vel
		CENTRAL INDEX KEY:			0001762316

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39926
		FILM NUMBER:		21592246

	MAIL ADDRESS:	
		STREET 1:		NIGHTSTAR THERAPEUTICS PLC
		STREET 2:		203 CRESCENT STREET, SUITE 303
		CITY:			WALTHAM
		STATE:			MA
		ZIP:			02453

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Terns Pharmaceuticals, Inc.
		CENTRAL INDEX KEY:			0001831363
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1065 EAST HILLSDALE BLVD., SUITE 100
		CITY:			FOSTER CITY
		STATE:			CA
		ZIP:			94404
		BUSINESS PHONE:		650-525-5535 EXT.101

	MAIL ADDRESS:	
		STREET 1:		1065 EAST HILLSDALE BLVD., SUITE 100
		CITY:			FOSTER CITY
		STATE:			CA
		ZIP:			94404
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>doc1.xml
<DESCRIPTION>FORM 3
<TEXT>
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<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2021-02-04</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001831363</issuerCik>
        <issuerName>Terns Pharmaceuticals, Inc.</issuerName>
        <issuerTradingSymbol>TERN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001762316</rptOwnerCik>
            <rptOwnerName>Sundaram Senthil Vel</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O TERNS PHARMACEUTICALS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>1065 EAST HILLSDALE BLVD., SUITE 100</rptOwnerStreet2>
            <rptOwnerCity>FOSTER CITY</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94404</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Executive Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>6.86</value>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2030-08-12</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>370170</value>
                    <footnoteId id="F2"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>9.24</value>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2030-12-29</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>579027</value>
                    <footnoteId id="F2"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">This option is early exercisable. 25% of the shares subject to the option vest on the first anniversary measured from July 30, 2020 (the &quot;Vesting Commencement Date&quot;), and 1/48th of the total number of shares vest monthly thereafter, such that 100% of the shares subject to the option will be fully vested on the fourth anniversary of the Vesting Commencement Date.</footnote>
        <footnote id="F2">Reflects a 1-for-14 reverse stock split of the Issuer's outstanding securities effected prior to the effectiveness of the Issuer's S-1 Registration Statement.</footnote>
        <footnote id="F3">This option is early exercisable. 25% of the shares subject to the option vest on the first anniversary measured from December 30, 2020 (the &quot;Vesting Commencement Date&quot;), and 1/48th of the total number of shares vest monthly thereafter, such that 100% of the shares subject to the option will be fully vested on the fourth anniversary of the Vesting Commencement Date.</footnote>
    </footnotes>

    <remarks>Exhibit 24.1 - Power of Attorney</remarks>

    <ownerSignature>
        <signatureName>/s/ Bryan Yoon, as Attorney-in-Fact for Senthil Sundaram</signatureName>
        <signatureDate>2021-02-04</signatureDate>
    </ownerSignature>
</ownershipDocument>
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<DOCUMENT>
<TYPE>EX-24.1
<SEQUENCE>2
<FILENAME>poa_sundaram.htm
<DESCRIPTION>POWER OF ATTORNEY
<TEXT>
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    <div style="text-align: center; font-size: 12pt; font-weight: bold;">POWER OF ATTORNEY</div>
    <div>&#160;</div>
    <div style="text-indent: 36pt; color: #000000;">Know all by these presents, that the undersigned hereby constitutes and appoints each of (i) the Chief Executive Officer of Terns
      Pharmaceuticals, Inc., a Delaware corporation (the &#8220;<font style="font-weight: bold;">Company</font>&#8221;), who is currently Senthil Sundaram, (ii) the Company&#8217;s Chief Financial Officer, who is currently
      Mark Vignola, (iii) the Company&#8217;s General Counsel, who is currently Bryan Yoon and (iv) the Company&#8217;s Controller, who is currently David Strauss, and their respective successors, signing singly, with full power of substitution, as the undersigned&#8217;s
      true and lawful attorney-in-fact to:</div>
    <div>&#160;</div>
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          <td style="width: 36pt; vertical-align: top; align: right; color: #000000;">&#160;(1)</td>
          <td style="width: auto; vertical-align: top;">
            <div style="color: #000000;">execute for and on behalf of the undersigned, in the undersigned&#8217;s capacity as an officer and/or director of the Company, Forms&#160;3, 4 and 5 (including amendments
              thereto) in accordance with Section&#160;16(a) of the Securities Exchange Act of 1934 and the rules and regulations thereunder and a Form ID, Uniform Application for Access Codes to File on EDGAR;</div>
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    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z8d76015b9afc47578ed00ce80979f648" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 36pt; vertical-align: top; align: right; color: #000000;">(2)</td>
          <td style="width: auto; vertical-align: top;">
            <div style="color: #000000;">do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Forms 3, 4 or 5 or Form ID
              and timely file such forms (including amendments thereto) and application with the United States Securities and Exchange Commission and any stock exchange or similar authority; and</div>
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    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" id="zbbffd2a01f86451a9cc7a8dd17ec7169" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 36pt; vertical-align: top; align: right; color: #000000;">(3)</td>
          <td style="width: auto; vertical-align: top;">
            <div style="color: #000000;">take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best
              interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms
              and conditions as such attorney-in-fact may approve in such attorney-in-fact&#8217;s discretion.</div>
          </td>
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    </table>
    <div><br>
    </div>
    <div style="text-indent: 36pt; color: #000000;">The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing
      whatsoever requisite, necessary or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or
      revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact's substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted.&#160; The
      undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, are not assuming, nor is the Company assuming, any of the undersigned's responsibilities to comply with Section&#160;16 of the
      Securities Exchange Act of 1934.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">The undersigned agrees that each such attorney-in-fact herein may rely entirely on information furnished orally or in writing by the undersigned to such
      attorney-in-fact.&#160; The undersigned also agrees to indemnify and hold harmless the Company and each such attorney-in-fact against any losses, claims, damages or liabilities (or actions in these respects) that arise out of or are based upon any untrue
      statements or omission of necessary facts in the information provided by the undersigned to such attorney-in fact for purposes of executing, acknowledging, delivering or filing Forms 3, 4 or 5 (including amendments thereto) or Form ID and agrees to
      reimburse the Company and such attorney-in-fact for any legal or other expenses reasonably incurred in connection with investigating or defending against any such loss, claim, damage, liability or action.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; color: #000000;">This Power of Attorney supersedes any power of attorney previously executed by the undersigned regarding the purposes outlined in the
      first paragraph hereof (&#8220;<font style="font-weight: bold; font-style: italic;">Prior Powers of Attorney</font>&#8221;), and the authority of the attorneys-in-fact named in any Prior Powers of Attorney is
      hereby revoked.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms&#160;3, 4 or 5 with respect to the
      undersigned's holdings of and transactions in securities issued by the Company, unless earlier (a)&#160;revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact or (b)&#160;superseded by a new power of attorney regarding the
      purposes outlined in the first paragraph hereof dated as of a later date.</div>
    <div><br>
    </div>
    <div style="color: #000000;">IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 3rd day of February, 2021.</div>
    <div><br>
    </div>
    <div>&#160;</div>
    <div style="margin-left: 279pt;"><u>/s/ Senthil Sundaram</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
    <div style="text-indent: 279pt; color: #000000;">Senthil Sundaram</div>
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