Company: PHAT
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0000950170-25-057326
Chunk: 50

Company: Phathom Pharmaceuticals, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 50
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, dental, vision, group life, disability, accidental death and dismemberment insurance plans, and 401(k) plan, in each case on generally the same basis as all of our other employees. We also pay a portion of the premiums for term life insurance and disability insurance for all of our employees, including our named executive officers. Our board of directors may elect to adopt additional benefit plans, qualified or non-qualified, in the future if it determines that doing so is in our best interests. We generally do not provide other perquisites or personal benefits to our named executive officers.

401(k) Plan

We maintain a 401(k) plan intended to qualify as a tax-qualified plan under Section 401 of the U.S. Internal Revenue Code of 1986, as amended, which our US-based named executive officers are eligible to participate in on the same basis as our other employees. The 401(k) plan allows us to make discretionary matching contributions. In July 2024, our board of directors approved a discretionary match for the first half of 2024, which was equal to 75% of each employee’s contribution from January 1, 2024, through June 30, 2024, up to the IRS maximum contribution amount of $23,000. In January 2025, our board of directors approved a discretionary match for the second half of 2024, which was equal to 75% of each employee’s annual contribution, up to the IRS maximum contribution amount of $23,000, less the matching contribution made for the first half of 2024. Each 2024 match under our 401(k) plan was made in the form of fully vested shares of our common stock.

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Employment Letters with our Named Executive Officers We have entered into employment letters with each of our named executive officers, as described below. Each of our named executive officer's employment is “at will” and may be terminated at any time, subject to our contractual obligations to them as described below. Employment Letter with Ms. Curran Ms. Curran’s employment letter was terminated in connection with her resignation from the Company in March 2025. Prior to her resignation, the employment letter for Ms. Curran provided for her annual base salary and target bonus. Additionally, under the employment letter, Ms. Curran was eligible to participate in all employee benefit plans and programs generally available to similarly situated employees of our company and was entitled to vacation benefits in accordance with our