Company: PHAT
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0000950170-25-057326
Chunk: 30

Company: Phathom Pharmaceuticals, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 30
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 by the compensation committee.

Based upon the recommendation of the compensation committee and Pay Governance, effective May 23, 2024, our board of directors approved an amendment to our non-employee director compensation program to increase the initial grants made to newly-elected or appointed directors to 21,000 RSUs and options to purchase 35,000 shares of our common stock. In addition, our non-employee director compensation program was amended such that, at the 2024 annual meeting of our stockholders, non-employee directors received annual grants of 10,500 RSUs and options to purchase 17,500 shares of our common stock. The foregoing changes were directly in line with the recommendations of Pay Governance and the compensation committee.

Compensation under our non-employee director compensation program is subject to the annual limits on non-employee director compensation set forth in our 2019 Incentive Award Plan, or 2019 Plan, which was approved by our board of directors and stockholders in connection with our initial public offering. Our board of directors or its authorized committee may modify the non-employee director compensation program from time to time in the exercise of its business judgment, taking into account such factors, circumstances and considerations as it shall deem relevant from time to time, subject to the annual limit on non-employee director compensation set forth in the 2019 Plan. As provided in the 2019 Plan, our board of directors or its authorized committee may make exceptions to this limit for individual non-employee directors in extraordinary circumstances, as the board of directors or its authorized committee may determine in its discretion, provided that the non-employee director receiving such additional compensation may not participate in the decision to award such compensation or in other compensation decisions involving non-employee directors.

We have reimbursed and will continue to reimburse all of our non-employee directors for their travel, lodging and other reasonable expenses incurred in attending meetings of our board of directors and committees of our board of directors.

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The following table summarizes cash and stock compensation received by our non-employee directors during the year ended December 31, 2024. Ms. Curran is not included in the following table as her compensation is included in the Summary Compensation Table in the “Executive Compensation and Other Information” section below. Mr. Schroeder joined our board of directors in April 2025 and, accordingly, received no compensation in 2024.

| Name                         |     | Fees Earned or 
 Paid in Cash   
 ($)            |         |