Company: PHAT
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0000950170-25-057326
Chunk: 2

Company: Phathom Pharmaceuticals, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 2
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| STOCKHOLDER PROPOSALS                                                                                                                                             |     |   45 |
| ANNUAL REPORT                                                                                                                                                     |     |   46 |
| STOCKHOLDERS SHARING THE SAME ADDRESS                                                                                                                             |     |   46 |
| OTHER MATTERS                                                                                                                                                     |     |   47 |

<div align='center'>iii

100 Campus Drive, Suite 102

Florham Park, NJ 07932

PROXY STATEMENT FOR THE 2025 ANNUAL MEETING OF STOCKHOLDERS

TO BE HELD ON TUESDAY, JUNE 3, 2025</div>

The board of directors of Phathom Pharmaceuticals, Inc. is soliciting the enclosed proxy for use at the annual meeting of stockholders, including at any adjournments or postponements of the meeting, to be held virtually atwww.virtualshareholdermeeting.com/PHAT2025, on June 3, 2025 at 11:30 a.m., Eastern Time.

We have elected to take advantage of Securities and Exchange Commission rules that allow companies to furnish proxy materials to their stockholders by providing access to these documents on the Internet instead of mailing printed copies. Those rules allow a company to provide its stockholders with the information they need, while lowering the costs of delivery and reducing the environmental impact of the annual meeting. Most of our stockholders will not receive printed copies of our proxy materials unless requested, but instead will receive a notice with instructions on how they may access and review our proxy materials on the Internet and how they may cast their vote via the Internet. If you would like to receive a printed or e-mail copy of our proxy materials, please follow the instructions for requesting the materials in the Notice of Internet Availability of Proxy Materials that is being sent to you.

<div align='center'>Important Notice Regarding the Availability of Proxy Materials for

the Annual Meeting of Stockholders to be Held on June 3, 2025:</div>

This proxy statement and our Annual Report on Form 10-K are available electronically atwww.proxyvote.com.

<div align='center'>GENERAL INFORMATION ABOUTTHE ANNUAL MEETING AND VOTING</div>

Why am I receiving these materials?

We have prepared these proxy materials, including this proxy statement and the related proxy card, because our board of directors is soliciting your proxy to vote at the 2025 annual meeting of stockholders. This proxy statement summarizes information related to your vote at the annual meeting. All stockholders who find it