Company: PRME
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001628280-25-008884
Chunk: 280

Company: Prime Medicine, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 16
Chunk 280
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.79 8.68$12,014 Granted4,476,710 7.99 Exercised(28,048)3.69 Forfeited(679,834)10.16 Outstanding at December 31, 202411,410,691 $9.08 8.10$— Vested and exercisable at December 31, 20244,888,933 $8.72 7.34$— Vested and expected to vest at December 31, 202411,410,691 $9.08 8.10$— Other information related to the time-based stock option activity of the Company was as follows:Year ended December 31,20242023Weighted-average fair value of options granted$5.60 $8.96 Intrinsic value of options exercised (in thousands)$70 $1,368 As of December 31, 2024 there was $39.3 million of total unrecognized compensation cost related to time-based unvested stock options, and the Company expects to recognize such amount over a remaining weighted-average period of 2.2 years.Performance-Based Stock OptionsThe Company has granted stock options to certain employees to purchase shares of common stock that contain performance-based vesting criteria related to corporate milestones. The fair value of each option grant under the performance share option plan was estimated on the date of grant. Recognition of stock-based compensation expense associated with these performance-based stock options commences when the performance condition is considered probable of achievement, using management’s best estimates, which consider the inherent risk and uncertainty regarding the future outcomes of the milestones. The following table summarizes the Company’s performance-based stock option activity for the year ended December 31, 2024:Number of OptionsWeighted-Average Exercise PriceWeighted-Average Remaining Contractual Term (in years)Aggregate Intrinsic Value (in thousands)Outstanding at December 31, 2023411,730 $6.65 8.15$1,362 Granted650,000 7.74 Exercised— — Forfeited— — Outstanding at December 31, 20241,061,730 $7.31 8.35$— Vested and exercisable at December 31, 2024490,230 $6.81 7.87$— 

F-24

Other information related to the performance-based stock