Company: ARVN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001655759-25-000139
Chunk: 153

Company: ARVINAS, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 153
---
 %Exercise price$6.61 - $17.70$24.94 - $47.00(1)    Expected volatility is calculated by utilizing the Company's historical volatility of its stock price over a period equal to the expected term.(2)    Expected term is calculated based on the Company's historical experience.(3)     Risk free interest rate is based on an interpolation of U.S. Treasury rates to reflect the expected term at the date of grant.A summary of the stock option activity during the six months ended June 30, 2025 is presented below. Included in the table are stock options granted to employees and directors under the 2018 Plan, as well as options to purchase 255,611 shares of common stock granted to certain employees pursuant to the Nasdaq inducement grant exception in accordance with Nasdaq Listing Rule 5635(c)(4).(dollars in millions, except weighted average exercise price)Options Weighted AverageExercise PriceWeighted AverageRemaining ContractualTerm (Years)Aggregate Intrinsic ValueOutstanding as of December 31, 20247,892,330 $44.16 6.7$3.2 Granted2,165,498 $12.54 Cancelled/ Forfeited(503,870)$44.26 Outstanding as of June 30, 20259,553,958 $37.31 6.9$0.6 Vested and exercisable as of June 30, 20256,195,452 $45.06 5.7$— Vested and expected to vest as of June 30, 20259,212,437 $37.99 6.8$0.5 

15

The weighted-average grant date fair value per share of options granted during the six months ended June 30, 2025 and 2024 was $12.54 and $28.08, respectively. There were no options exercised during the six months ended June 30, 2025. The total intrinsic value of options exercised during the six months ended June 30, 2024 was $3.5 million.Restricted Stock Units ("RSUs")A summary of RSU activity during the six months ended June 30, 2025 is presented below. Included in the table are RSUs granted to employees and directors under the 2018 Plan, as well as RSUs representing 170,365 shares of common stock granted to certain