Company: PRME
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023486
Chunk: 41

Company: Prime Medicine, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 Compensation Committee of the Board of Directors. On January 1, 2025, the annual increase resulted in an additional 6,558,042 shares authorized being added to the 2022 Plan. As of March 31, 2025, the Company had 28,080,152 shares reserved under the 2022 Plan and the 2019 Plan, and 11,689,462 shares available for issuance under the 2022 Plan.2022 Employee Stock Purchase Plan On February 9, 2022, the Board of Directors adopted, 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 March 31, 2025, the Company had 1,753,191 shares available for issuance under the 2022 ESPP.During the three months ended March 31, 2025, the Company issued no shares of the Company’s common stock under the 2022 ESPP.Stock OptionsThe following table summarizes the Company’s stock option activity for the three months ended March 31, 2025:Number of SharesWeighted-Average Exercise PriceOutstanding at December 31, 202411,410,691 $9.08 Granted4,307,544 2.40 Exercised— — Cancelled or forfeited(389,275)8.66 Outstanding at March 31, 202515,328,960 $7.21 Options vested and exercisable at March 31, 20256,026,956 $8.66 Options vested and expected to vest at March 31, 202515,328,960 $7.21 As of March 31,