Company: PRME
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050422
Chunk: 70

Company: Prime Medicine, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 70
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, and on October 10, 2022, the Company’s stockholders approved, the 2022 Employee Stock Purchase Plan (the “2022 ESPP”), which became effective on October 18, 2022.The number of shares of common stock that may be issued under the 2022 ESPP cumulatively increased beginning on January 1, 2023 and shall increase on each January 1 hereafter through January 1, 2032, by the least of (i) 971,350 shares of common stock, (ii) one percent of the outstanding number of shares of common stock on the immediately preceding December 31, or (iii) such number of shares of common stock as determined by the administrator of the 2022 ESPP. There was no annual increase for the 2022 ESPP on January 1, 2025. As of September 30, 2025, the Company had 1,619,579 shares available for issuance under the 2022 ESPP.During the nine months ended September 30, 2025, the Company issued 133,612 shares of the Company’s common stock under the 2022 ESPP.

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Stock OptionsThe following table summarizes the Company’s stock option activity for the nine months ended September 30, 2025:Number of SharesWeighted-AverageExercise Price1Outstanding at December 31, 202411,410,691 $5.91 Granted7,566,944 1.95 Exercised(115,033)3.44 Cancelled or forfeited(3,282,905)7.58 Outstanding at September 30, 202515,579,697 $3.70 Options vested and exercisable at September 30, 20256,742,388 $4.84 Options vested and expected to vest at September 30, 202515,579,697 $3.70 1 Weighted-average exercise price for shares outstanding at the beginning of the period and at the end of period reflect the exercise price resulting from the one-time repricing, which is discussed in detail below.As of September 30, 2025, there was $30.3 million of total unrecognized compensation cost related to time-based unvested stock options. The Company expects to recognize such amount over a remaining weighted-average period of 2.7 years.Performance-Based Stock OptionsThe following table summarizes the Company’s performance-based stock