Company: MIRM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001759425-25-000054
Chunk: 411

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 411
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 value of stock option awards granted during the following periods:  Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024Expected term (in years)6.08-6.086.08-6.085.50-6.085.50-6.08Expected volatility68.98%-69.30%73.10%-76.30%68.98%-71.31%72.34%-80.36%Risk-free interest rate3.69%-4.03%3.48%-4.24%3.69%-4.65%3.48%-4.62%Expected dividend yield————Restricted Stock UnitsThe following table summarizes the activity under the Company’s restricted stock units for the nine months ended September 30, 2025: Number ofAwardsWeighted-Average Grant DateFair Value per AwardUnvested and outstanding as of December 31, 2024 1,392,562$26.63 Granted727,086$47.76 Vested(616,708)$24.82 Cancelled/Forfeited(87,778)$35.22 Unvested and outstanding as of September 30, 2025 1,415,162$37.74 The fair value of restricted stock unit awards granted to employees and nonemployees is equal to the closing market price of the Company’s common stock on the grant date.As of September 30, 2025, the total unrecognized stock-based compensation related to restricted stock unit awards granted was $39.0 million, which the Company expects to recognize over a weighted-average period of approximately 2.0 years.Performance Stock UnitsThe fair value of performance stock units (“PSUs”) granted to employees is equal to the closing market price of the Company’s common stock on the grant date. PSUs are subject to vest only if certain specified sales-based criteria are achieved and the employees’ continued service with the Company. As of September 30, 2025, certain specified sales-based criteria were deemed probable of achievement or already achieved. Stock-based compensation for PSUs is recognized over the service period beginning in the period the Company determines it is probable that the performance criteria will be achieved. PSUs generally vest over a three-year service period. The number of shares earned is adjusted based on the specified sales-based criteria achievement. The following table summarizes the activity under the Company’s performance stock units for the nine months ended September 30, 202