Company: PHAT
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0000950170-25-057326
Chunk: 57

Company: Phathom Pharmaceuticals, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 57
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) were able to exchange outstanding stock options for a lesser amount of new RSUs. Employees who elected to participate in the Option Exchange received one RSU for every two shares of our common stock underlying the eligible options surrendered on a grant-by-grant basis. The Option Exchange expired on July 14, 2023, and all surrendered options were cancelled effective as of the completion date of the Option Exchange, and in exchange for those options, we issued new RSUs under the 2019 Plan. All of the existing stock options that were surrendered had exercise prices significantly above the recent trading prices of our common stock. The new RSUs vest in three equal installments on each of the first three anniversaries of July 14, 2023, subject to the holder’s continuous service through the applicable vesting date.

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Pay Versus Performance

The following table sets forth information concerning the compensation of our NEOs, including Ms. Curran, our principal executive officer, or PEO, during 2024, and our Non-PEO NEOs consisted of Azmi Nabulsi, M.D. and Molly Henderson for each of the fiscal years ended December 31, 2024 and 2023, and our financial performance for each such fiscal year:

|      |                      |           |     |                  |           |     |                 |           |     |                  |           |     | Value of Initial Fixed $100 
 Investment Based on:        |       |     |                   |         |   |
| Year | Summary Compensation 
 Table Total for PEO  
 ($)                  |           |     | Compensation     
 Actually Paid to 
 PEO              
 ($)(1)(2)        |           |     | Average         
 Summary         
 Compensation    
 Table Total for 
 Non-PEO NEOs    
 ($)             |           |     | Average          
 Compensation     
 Actually Paid to 
 Non-PEO NEOs     
 ($)(1)(2)        |           |     | Total Stockholder Return    
 ($)                         |       |     | Net Income (Loss) 
 (in thousands)    
 ($)               |         |   |
| 2024 |                      | 3,564,883 |     |                  | 3,759,207 |     |                 | 1,495,377 |     |                  | 1,541,071 |     |                             | 72.37 |     |                   | (334.33 | ) |
| 2023 |                      | 3,