Company: PRME
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038619
Chunk: 52

Company: Prime Medicine, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 52
---
 reason,” to the extent provided for in the Eligible Optionholder’s employment agreement, offer letter or severance plan (as applicable); or iii.the Eligible Optionholder’s death or disability (as determined in accordance with the Plans, as applicable)..Except as modified by the Option Repricing, all other terms and conditions of the Repriced Options, including, without limitation, any provisions with respect to vesting and term of the Repriced Options, will remain in full force and effect. The Company is in the process of evaluating the accounting impact of the Option Repricing.Performance-Based Restricted Common Stock Awards The Company awarded restricted common stock to employees and non-employees under its 2019 Plan. The following table summarizes the Company’s performance-based restricted common stock activity for the six months ended June 30, 2025:Number of SharesWeighted-Average Grant-Date Fair ValueOutstanding at December 31, 20243,472,546 $0.06 Issued— — Vested— — Repurchased— — Outstanding at June 30, 20253,472,546 $0.06 

21

Stock-Based CompensationThe following table below summarizes the classification of the Company’s stock-based compensation expense related to stock options and restricted common stock awards in the condensed consolidated statements of operations and comprehensive loss:Three Months EndedJune 30,Six Months EndedJune 30,(in thousands)2025202420252024Stock-based compensation expense:Research and development$3,218 $4,221 $6,074 $6,946 General and administrative3,107 3,870 5,932 6,354 Total stock-based compensation expense$6,325 $8,091 $12,006 $13,300 

9.Significant Agreements 

The Company’s significant agreements are disclosed in Note 9, License and Collaboration Agreements, in the audited consolidated financial statements for the year ended December 31, 2024, and notes thereto, included in the Company’s Annual Report on Form 10-K that was filed with the SEC on February 28, 2025. Since the date of those financial statements, there have been no changes to the Company’s significant agreements except those discussed below.Bristol-Myers Squibb — Related PartySupplemental information related to the BMS Collaboration Agreement consisted of the following:(in thousands)June 30,2025December 31,