Management ChangeMay 22, 2026, 05:12 PM
Tempest Therapeutics: Three Directors Resign from Board
AI Summary
Tempest Therapeutics announced the resignation of three directors, Mr. Stephen Brady, Mr. Michael Raab, and Ms. Christine Pellizzari, from its Board of Directors, effective May 22, 2026. The company stated that these resignations were not due to any disagreement with the company's operations, policies, or practices. In connection with their departure, separation agreements were executed, under which the directors waived accrued and unpaid retainer fees, while their outstanding stock option awards, share ownership, and indemnification rights remain unaffected.
Key Highlights
- Stephen Brady, Michael Raab, and Christine Pellizzari resigned from Tempest Therapeutics' Board of Directors.
- Resignations were effective May 22, 2026.
- The company was not informed of any disagreement regarding operations, policies, or practices.
- Separation Agreements were entered into with each departing director.
- Directors waived all accrued and unpaid retainer fees.
- Outstanding stock option awards and share ownership rights remain unaffected.
- Indemnification agreements remain in full force for six years from separation.
Price Impact
More from TPST