Company: PHAT
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0000950170-25-057326
Chunk: 46

Company: Phathom Pharmaceuticals, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 46
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 generally attend the compensation committee meetings, but the compensation committee also holds executive sessions that are not attended by any members of management. Our Chief Executive Officer is not present for any deliberations or decisions on their own compensation. Role of Compensation Consultant and Comparable Company Information The compensation committee is authorized to retain the services of third-party compensation consultants and other outside advisors, from time to time, to assist in its evaluation of executive compensation, including the authority to approve the consultant’s reasonable fees and other retention terms. In 2024, the compensation committee retained Pay Governance LLC, an independent third-party compensation consulting firm, for guidance in making compensation decisions. Specifically, for 2024, the compensation committee requested Pay Governance to advise it on a variety of compensation-related issues, including updating its compensation peer group and conducting market research and analysis of current practices of comparable public companies to assist the compensation committee in developing its director and executive compensation programs and setting director and executive compensation levels. Pay Governance did not provide any other services to us in 2024 beyond its engagement as an advisor to the compensation committee on director and executive compensation matters. The compensation committee assessed the independence of Pay Governance pursuant to SEC and Nasdaq rules and concluded that no conflict of interest existed that would have prevented Pay Governance from serving as an independent consultant to the compensation committee currently or during 2024. Competitive Positioning The compensation committee reviews our peer group annually to reflect changes in market capitalization and other factors, including acquisitions, and revises the companies included in the peer group accordingly. For 2024, Pay Governance assisted the compensation committee in identifying an appropriate peer group of companies for use as a reference when determining 2024 director and executive compensation. For the purposes of setting 2024 director and executive compensation, the identified peer group consisted of 17 life sciences companies that were selected based on market capitalization, sector and stage, and headcount, and not on the basis of executive compensation levels:

| Market Capitalization | Market capitalization between $160 million and $2 billion in October 2023. Phathom Pharmaceuticals, Inc. had a 30-day average market capitalization of $778 million as of such date and ranked in the 30th percentile relative to the peer group on this metric. |
| Sector and Stage      | U.S.-based, publicly-traded biopharma companies, with focus on commercial-stage companies and/or those companies in Phase III of clinical trials.                                                                                                                |
| Headcount             | Generally under 500 employees.                                                                                                                                                                                                                                   |

For 2024