Company: ARVN
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0001655759-25-000016
Chunk: 41

Company: ARVINAS, INC.
Filing Date: 2025-02-11
Form: 10-K
Item: Item 16
Chunk 41
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cement grant exception in accordance with Nasdaq Listing Rule 5635(c)(4).(dollars in millions, except weighted-average exercise price)OptionsWeighted-AverageExercise PriceWeighted-Average RemainingContractualTerm (Years) AggregateIntrinsic ValueOutstanding as of December 31, 20237,933,794 $45.22 7.2$62.6 Granted1,179,299 $41.26 Exercised(271,335)$21.55 Forfeited(949,428)$56.09 Expired—$— Outstanding as of December 31, 20247,892,330 $44.16 6.7$3.2 Vested and exercisable as of December 31, 20245,440,634 $44.80 5.8$3.1 Vested and expected to vest as of December 31, 20247,713,160 $44.29 6.6$3.1 The weighted-average grant date fair value of options granted during the years ended December 31, 2024, 2023 and 2022 was $27.35, $21.99 and $39.17, respectively. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022 was $3.6 million, $1.4 million and $7.9 million, respectively. Restricted Stock UnitsA summary of restricted stock unit ("RSU") activity under the 2018 Plan for the year ended December 31, 2024 is presented below. Included in the table are RSUs granted to employees and directors under the 2018 Plan, as well as RSUs representing 170,365 shares of common stock granted to certain 

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employees pursuant to the Nasdaq inducement grant exception in accordance with Nasdaq Listing Rule 5635(c)(4).SharesWeighted-Average GrantDateFair Value PerShareUnvested RSUs as of December 31, 20231,151,856 $38.16 Granted1,744,971 $44.43 Released(335,706)$38.90 Forfeited(249,830)$43.07 Unvested RSUs as of December 31, 20242,311,291 $42.25 The weighted-average grant date fair value