Company: MIRM
Filing Date: 2025-04-14
Form Type: DEF 14A
Source: 0001759425-25-000022
Chunk: 65

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-04-14
Form: DEF 14A
Chunk 65
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 $45,000 to $50,000. The April 2024 Non-Employee Director Compensation Policy replaced the equity awards referenced above, such that on and after April 4, 2024, our non-employee directors would receive the following equity compensation for service on the Board:

• an initial equity grant consisting of a nonstatutory stock option (an “ Initial Director Option Grant ”) and an RSU award (an “ Initial Director RSU Grant ” and together with the Initial Director Option Grant, the “ Initial Director Grant ”) upon initial election or appointment to the Board (or, if such date is not a market trading day, the first market trading day thereafter), with an aggregate grant date fair value of the Initial Director Grant equal to $450,000, with 50% of such dollar value awarded as an Initial Director Option Grant (as determined using the Black-Scholes calculation methodology, rounded down to the nearest whole share) and 50% as an Initial Director RSU Grant (valued using the closing sales price per share of our common stock as of the date of grant for each RSU, rounded down to the nearest whole share); and

• an annual equity grant consisting of a nonstatutory stock option (an “ Annual Director Option Grant ”) and an RSU award (an “ Annual Director RSU Grant ” and together with the Annual Director Option Grant, the “ Annual Director Grant ”) on the date of each of our annual stockholder meetings with an aggregate grant date fair value of the Annual Director Grant equal to $300,000, with 50% of such dollar value awarded as an Annual Director Option Grant (as determined using the Black-Scholes calculation methodology, rounded down to the nearest whole share) and 50% as an Annual Director RSU Grant (valued using the closing sales price per share of our common stock as of the date of grant for each RSU, rounded down to the nearest whole share).

Under the April 2024 Non-Employee Director Compensation Policy, each of the option grants and RSU awards described above will be granted under our 2019 Plan. Each share subject to an Initial Director Grant will vest and become exercisable in three equal annual installments over the three-year period following the date of grant, subject to the director’s continuous service as of each such date, and will vest in full upon a change of control. Each Annual Director Grant will vest and become exercisable on the earlier of the first anniversary of the date of grant or the