Company: PHAT
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0000950170-25-057326
Chunk: 49

Company: Phathom Pharmaceuticals, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 49
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 by management or the compensation committee. We do not have any stock ownership requirements for our named executive officers. The compensation committee determines each executive officer’s annual equity grant taking into account a competitive market analysis prepared by our independent compensation consultant with market data for each role, the recommendations of our Chief Executive Officer based on her evaluation of their individual performance (except with respect to her own performance), the extent to which the executive officer is currently vested in his or her stock awards, scope and criticality of the executive’s role and parity in targets among executives. Equity awards are granted using mix of different equity instruments. Stock options are an important vehicle for tying executive pay to performance, because they deliver future value only if the value of our common stock increases above the exercise price. RSU awards are granted because they are less dilutive to our stockholders, as fewer shares of our common stock are granted to achieve an equivalent value relative to stock options, and because RSU awards are an effective retention tool. The exercise price of each stock option grant is the fair market value of our common stock on the grant date. Stock option awards granted in connection with an employee’s commencement of employment generally vest over a four-year period as follows: 25% of the option vests on the first anniversary of the date of the vesting commencement date and the remainder of the option vests in equal monthly installments over the remaining 36 months thereafter. RSU awards generally vest in three equal annual installments. From time to time, our compensation committee may, however, determine that a different vesting schedule is appropriate.

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In January 2024, our named executive officers Ms. Curran, Dr. Nabulsi and Ms. Henderson were each awarded an annual grant of stock options under our 2019 Plan of 475,000, 130,000 and 120,000 stock options, respectively. These options vest over the standard four-year vesting schedule.

In addition, in May 2024, Dr. Nabulsi and Ms. Henderson each received an award of 7,500 RSUs. The RSUs vest over the standard three-year vesting schedule measured from December 18, 2023.

For a description of the accelerated vesting applicable to our named executive officers’ stock awards, see “Employment Letters with Our Named Executive Officers” below.

Other Elements of Compensation

Perquisites, Health, Welfare and Retirement Benefits

Our named executive officers are eligible to participate in our employee benefit plans, including our medical