Company: PRME
Filing Date: 2025-08-05
Form Type: 8-K
Source: 0001628280-25-037840
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Company: Prime Medicine, Inc.
Filing Date: 2025-08-05
Form: 8-K
Item: Item 5.02
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On August 1, 2025 (the “ Repricing Date”), Prime Medicine, Inc. (the “ Company”) held a special meeting of stockholders (the “ Special Meeting”) in a virtual meeting format via live webcast. As further described in Item 5.07 to this Current Report on Form 8-K, at the Special Meeting, the Company’s stockholders approved a one-time repricing (the “ Option Repricing”) of certain outstanding stock options granted to, and held by, certain of the Company’s current employees, including its executive officers and named executive officers (namely, Allan Reine, M. D., the Company’s Chief Executive Officer, principal executive officer and principal financial officer), and members of the Board of Directors of the Company (the “ Board”) through the Repricing Date (collectively, the “ Eligible Optionholders”), under the Company’s 2019 Stock Option and Grant Plan and/or the 2022 Stock Option and Incentive Plan (collectively, the “ Plans”), that have exercise prices in excess of the Repriced Exercise Price (as defined below), covering up to an aggregate of 8,285,387 shares of the Company’s common stock, par value $0.00001 per share (“ Common Stock” and such options, the “ Eligible Options”). The Option Repricing was previously approved by the Board on June 22, 2025, subject to approval by the Company’s stockholders.

Effective as of the Repricing Date, the per share exercise price of each Eligible Option held by an Eligible Optionholder who is an employee of the Company or a member of the Board as of the Repricing Date, as applicable, was automatically reduced to $4.04 per share, which was the closing trading price per share of Common Stock on The Nasdaq Global Market on the Repricing Date (each, a “ Repriced Option,” and such exercise price per share, the “ Repriced Exercise Price”). Under the terms of the Option Repricing, a Repriced Option will revert to its original exercise price per share (the “ Original Price”) if (i) such Repriced Option is exercised prior to the applicable Retention Date (as defined below), which shall be (x) the one-year anniversary of the Repricing Date for Repriced Options held by