Company: PRME
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038619
Chunk: 50

Company: Prime Medicine, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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 outstanding number of shares of common stock on the immediately preceding December 31, or (iii) such number of shares of common stock as determined by the administrator of the 2022 ESPP. There was no annual increase for the 2022 ESPP on January 1, 2025. As of June 30, 2025, the Company had 1,619,579 shares available for issuance under the 2022 ESPP.During the six months ended June 30, 2025, the Company issued 133,612 shares of the Company’s common stock under the 2022 ESPP.

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Stock OptionsThe following table summarizes the Company’s stock option activity for the six months ended June 30, 2025:Number of SharesWeighted-Average Exercise PriceOutstanding at December 31, 202411,410,691 $9.08 Granted7,531,444 1.94 Exercised— — Cancelled or forfeited(2,102,462)7.04 Outstanding at June 30, 202516,839,673 $6.14 Options vested and exercisable at June 30, 20257,106,428 $8.45 Options vested and expected to vest at June 30, 202516,839,673 $6.14 As of June 30, 2025, there was $30.5 million of total unrecognized compensation cost related to time-based unvested stock options. The Company expects to recognize such amount over a remaining weighted-average period of 2.9 years.Performance-Based Stock OptionsThe following table summarizes the Company’s performance-based stock option activity for the six months ended June 30, 2025:Number of SharesWeighted-AverageGrant Date Fair ValueOutstanding at December 31, 20241,061,730 $7.31 Granted700,000 1.34 Exercised— — Cancelled or forfeited— — Outstanding at June 30, 20251,761,730 $4.94 Vested and exercisable at June 30, 2025845,646 $6.87 As of June 30, 2025, there was $2.1 million of total unrecognized compensation cost related to performance-based stock options.Repricing of Certain Outstanding Stock OptionsOn June 22, 2025, the Board of Directors approved, and on August