Tenaya Therapeutics Reports Inducement Grants under NASDAQ Listing Rule 5635(c)(4)
SOUTH SAN FRANCISCO, Calif., July 14, 2026 (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 1,650,000 shares of Tenaya common stock to Eric Hyllengren, its newly appointed Chief Financial Officer, and an aggregate of 187,200 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 $0.8365 per share, which is equal to the closing price of Tenaya’s common stock on July 13, 2026. Each stock option has a ten-year term and vests as follows over a total of four years: 1/4th 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 1/48th 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); TN-401, a gene therapy for PKP2-associated arrhythmogenic right ventricular cardiomyopathy (ARVC); and TN-301, a highly specific small molecule HDAC6 inhibitor with broad potential clinical utility in cardiac, metabolic and muscular conditions, including heart failure with preserved ejection fraction (HFpEF) and Duchenne muscular dystrophy (DMD). Tenaya has employed a suite of integrated internal capabilities including modality agnostic target discovery and validation, to generate a portfolio of novel medicines based on genetic insights, 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 IR@tenayathera.com
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