Company: PHAT
Filing Date: 2025-04-01
Form Type: 8-K
Source: 0001193125-25-069748
Chunk: 3

Company: Phathom Pharmaceuticals, Inc.
Filing Date: 2025-04-01
Form: 8-K
Item: Item 5.02
Chunk 3
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ement Plan and will be granted as soon as practicable following his commencement of employment but in no event prior to the date the Company files the Form S-8registration statement with respect to the Inducement Plan.

In connection with Ms. Curran’s separation, we expect to enter into a separation agreement wherein we will provide Ms. Curran with the following severance benefits: (1) continuation of her base salary through June 30, 2026 (such applicable period, the “severance period”), (2) a lump sum equal to her target bonus for 2025, (3) payment of the COBRA premiums for her and her eligible dependents until the earliest of (a) the end of the severance period, (b) expiration of her eligibility for continuation coverage under COBRA, or (c) the date she becomes eligible for health insurance coverage in connection with her new employment, (4) accelerated vesting of such portion of the time-based awards granted to her as would have otherwise vested on or prior to June 30, 2026 (and full vesting of her restricted stock units otherwise scheduled to vest on or prior to July 14, 2026), and (5) an extension of the post-termination exercise period of her vested stock options through June 30, 2026. The separation agreement will include a release of claims in favor of the Company and the severance benefits will be subject to her continued compliance with post-termination restrictive covenants.

Adoption of 2025 Employment Inducement Incentive Award Plan

Effective March 30, 2025, the Board adopted the Inducement Plan and, subject to the adjustment provisions of the Inducement Plan, reserved 2,500,000 shares of the Company’s common stock for issuance pursuant to equity awards granted under the Inducement Plan.

The Inducement Plan was adopted without stockholder approval pursuant to the applicable Nasdaq Listing Rules. The Inducement Plan provides for the grant of equity-based awards, including nonstatutory stock options, restricted stock units, restricted stock, stock appreciation rights, performance shares and performance stock units, and its terms are substantially similar to the Company’s 2019 Incentive Award Plan, including with respect to treatment of equity awards in the event of a “merger” or “change in control” as defined under the Inducement Plan, but with such other terms and conditions intended to comply with the Nasdaq inducement award exception