Company: PHAT
Filing Date: 2025-04-01
Form Type: 8-K
Source: 0001193125-25-069748
Chunk: 0

Company: Phathom Pharmaceuticals, Inc.
Filing Date: 2025-04-01
Form: 8-K
Item: Item 5.02
Chunk 0
---
Item 5.02      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.  

Chief Executive Officer Transition

Effective April 1, 2025, Steven Basta was appointed as the Chief Executive Officer, President and as a Class I director of Phathom Pharmaceuticals, Inc. (the “ Company”), replacing Terrie Curran who resigned as President and Chief Executive Officer and as a member of the Company’s Board of Directors (the “ Board”) for personal reasons, effective March 31, 2025.

Mr. Basta, age 59, served as the Chief Executive Officer of SaNOtize Research and Development Corp., a company that develops and commercializes anti-infective therapies, from September 2023 until March 2025. From December 2020 until October 2022, Mr. Basta served as the Chief Executive Officer of Mahana Therapeutics, a privately held prescription digital therapeutic company. From September 2015 to March 2020, Mr. Basta served as President and Chief Executive Officer of Menlo Therapeutics, Inc. (which later became VYNE Therapeutics, Inc.), a publicly-traded biopharmaceutical company. He previously served as Chief Executive Officer of AlterG and BioForm Medical and its successor Merz Aesthetics. Mr. Basta has served as a director of VYNE Therapeutics since September 2015 and served as a director of the publicly held company Viveve Medical from 2018 until March 2023, including as Chairman of the Board beginning in January 2019. He has served as a director of DermBiont, Inc., a privately held pharmaceutical company, since March 2020. Mr. Basta received a B. A. from The Johns Hopkins University and an M. B. A. from the Kellogg Graduate School of Management at Northwestern University.

In connection with his appointment as Chief Executive Officer and President, Mr. Basta entered into an employment letter agreement with the Company, setting forth the terms of his employment. Mr. Basta’s initial annual base salary will be $700,000 and he will be eligible for an annual target bonus equal to 70% of his annual base salary. Mr. Basta will be eligible for a prorated annual bonus for 2025.

Regardless of the manner in which Mr. Basta’s employment terminates, he will be entitled to receive amounts previously earned during his term of