Company: MIRM
Filing Date: 2025-04-14
Form Type: DEF 14A
Source: 0001759425-25-000022
Chunk: 45

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-04-14
Form: DEF 14A
Chunk 45
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The annual equity grants to our named executive officers are evaluated and approved by the Compensation Committee in the context of each named executive officer’s total compensation and take into account the market data provided by our compensation consultant in addition to the individual executive’s responsibilities and performance. The Compensation Committee also takes into account the recommendations of the Chief Executive Officer with respect to appropriate grants and any particular individual circumstances.

Also, in January 2023, the Compensation Committee granted PSU awards (the “ 2023 Executive PSUs ”) with respect to 50,000 and 14,440 shares to Mr. Peetz and Mr. Radovich; Mr. Bjerkholt and Dr. Quan were not employed by us in January 2023. The 2023 Executive PSUs were subject to a performance condition of achieving certain net product sales levels related to Livmarli during the year ended December 31, 2024, with the percentage of achievement determined as follows: 50% if net product sales equaled $150 million, 150% if net product sales equaled or exceeded $200 million, and a linearly adjusted percentage between 50% and 150% if net product sales were between $150 million and $200 million, in each case, with net product sales to be certified by the Compensation Committee. In January 2025, the Compensation Committee certified that Livmarli net product sales equaled or exceeded $200 million for the year ended December 31, 2024 and assigned an achievement percentage of 150% to the 2023 Executive PSUs.

The first tranche of the shares underlying the 2023 Executive PSUs vested on March 15, 2025, and the second tranche will vest on March 15, 2026, subject to the applicable executive employees’ continuous service through the remaining vesting date. The number of shares that vested in the first tranche was 50,000 for Mr. Peetz and 14,440 for Mr. Radovich, which was calculated by multiplying two-thirds of the 2023 Executive PSUs granted by 150%, the achievement percentage for 2023 Executive PSUs. The number of shares to be vested in the second tranche of the 2023 Executive PSUs equals 50% of the shares vested in the first tranche, or 25,000 for Mr. Peetz and 7,220 for Mr. Radovich, subject to the continuous service through the remaining vesting date.

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