Company: ARVN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001655759-25-000139
Chunk: 152

Company: ARVINAS, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 152
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 of the Company’s common stock outstanding on the first day of the year or an amount determined by the Company’s board of directors. As of June 30, 2025, 1,855,723 shares remained available for issuance under the 2018 Plan. Shares of common stock subject to outstanding equity awards that expire or are terminated, surrendered or canceled without having been fully exercised or are forfeited in whole or in part are available for future grants of awards.Compensation ExpenseIn connection with the strategic restructuring plan initiated by the Company in the second quarter of 2025, as further discussed below in Note 14, Restructuring Activity, the Company modified the vesting terms of certain Restricted Stock Units previously granted to employees. The incremental impact of the modification was fully recognized during the three and six months ended June 30, 2025 as a decrease to compensation expense 

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of $1.7 million. There were no remaining unrecognized compensation expenses related to the modified awards at June 30, 2025.During the three months ended June 30, 2025 and 2024, the Company recognized compensation expense of $10.4 million and $21.6 million, respectively, related to the issuance of incentive awards, including $0.2 million related to the 2018 ESPP in each period presented.During the six months ended June 30, 2025 and 2024, the Company recognized compensation expense of $25.4 million and $40.2 million, respectively, relating to the issuance of incentive awards, including $0.4 million related to the 2018 ESPP in each period presented.As of June 30, 2025, there was $60.5 million of total unrecognized compensation expense that is expected to be amortized over a weighted average period of approximately 1.6 years.Stock OptionsThe fair value of the stock options granted during the six months ended June 30, 2025 and 2024 was determined using the Black-Scholes option pricing model with the following assumptions: June 30,2025June 30,2024Expected volatility (1)72.1 - 80.1%72.9 - 75.6%Expected term (years) (2)5.5 - 5.75.4 - 5.5Risk free interest rate (3)3.9% - 4.4%3.9% - 4.6%Expected dividend yield0 %0