Company: PMVP
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030414
Chunk: 186

Company: PMV Pharmaceuticals, Inc.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 186
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 127.07%
         
        75.21% - 77.72%
         
        76.33% - 81.00%

       The weighted average assumptions used to estimate the fair value of stock purchase rights under the ESPP are as follows: 

        Year Ended December 31,

        2024
         
        2023
         
        2022

        Risk-free interest rate

        5.43%
         
        5.41%
         
        3.44%

        Expected life (in years)

        0.5
         
        0.49
         
        0.49

        Dividend yield

        0%
         
        0%
         
        0%

        Expected volatility

        85.55%
         
        76.27%
         
        77.00%

      Risk Free Interest Rate: The risk-free rate is based on the U.S. Treasury yields in effect at the time of grant for periods corresponding with the expected term of the option.Expected Term: The Company uses the simplified method to calculate expected term described in the SEC’s Staff Accounting Bulletin No. 107, which takes into account vesting term and expiration date of the options.

 119

Dividend Yield: The Company has never declared or paid any cash dividends and does not plan to pay cash dividends in the foreseeable future, and therefore, used an expected dividend yield of zero in the valuation model.Volatility: Volatility is based on the historical volatility of the Company’s publicly traded shares for the expected term.Restricted Stock UnitsThe following table presents RSU activity under the 2020 Plan as of December 31, 2024: 

        Number ofStock Units

        Weighted-Average Grant Date Fair Value

        Unvested shares December 31, 2023

        236,296

        $
        13.62

        Granted

        952,665

        1.80

        Vested

        (227,379
        )

        13.62

        Forfeited

        (53,916
        )

        3.75

        Unvested shares December 31, 2024

        907,666

        1.80

       As of December 31, 2024, there was $561 of unrecognized compensation cost related to RSUs that are expected to vest.