Company: ARVN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001655759-25-000139
Chunk: 154

Company: ARVINAS, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 154
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 employees pursuant to the Nasdaq inducement grant exception in accordance with Nasdaq Listing Rule 5635(c)(4).Shares Weighted AverageGrant DateFair Value PerShareUnvested RSUs as of December 31, 20242,311,291 $42.25 Granted3,382,825 $13.98 Vested(911,874)$43.82 Cancelled / Forfeited(628,701)$26.91 Unvested RSUs as of June 30, 20254,153,541 $21.28 The weighted-average grant date fair value per share of RSUs granted during the six months ended June 30, 2025 and 2024 was $13.98 and $44.98, respectively. The total intrinsic value of RSUs released during the six months ended June 30, 2025 and 2024 was $14.9 million and $11.4 million, respectively. The total fair value of RSUs vested during the six months ended June 30, 2025 and 2024 was $42.4 million and $10.2 million, respectively.

10. Income Taxes 

For the three months ended June 30, 2025, the Company recognized income tax benefit of $0.3 million, resulting in an effective tax rate of 0.6%, as compared to income tax expense of $0.2 million, resulting in an effective tax rate of (0.6)%, in the same period for 2024. The primary reconciling items between the federal statutory rate of 21.0% for the three months ended June 30, 2025 and the Company’s overall effective tax rate of 0.6% was the effect of equity compensation and the valuation allowance recorded against the full amount of its net deferred tax assets. The primary reconciling items between the federal statutory rate of 21.0% for the three months ended June 30, 2024 and the Company’s overall effective tax rate of (0.6)% was the effect of equity compensation and the valuation allowance recorded against the full amount of its net deferred tax assets.For the six months ended June 30, 2025, the Company recognized income tax benefit of $0.2 million, resulting in an effective tax rate of (0.9)%, as compared to income tax expense of $0.3 million resulting in an effective tax rate of (0.3)% in the same period