Phathom Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Phathom Pharmaceuticals (NASDAQ: PHAT) announced the approval of inducement awards for their newly appointed Chief Legal Officer and Corporate Secretary, Anne Marie Cook. The compensation package includes a non-qualified stock option to purchase 210,000 shares of Phathom common stock, with 25% vesting on June 23, 2026, and the remainder vesting in 36 monthly installments. Additionally, Cook received 50,400 performance stock units with potential earnings up to 200% of target, tied to company financial objectives through December 31, 2027.

The awards are granted under the company's 2025 Employment Inducement Incentive Award Plan and comply with Nasdaq Listing Rule 5635(c)(4). Phathom specializes in developing treatments for gastrointestinal diseases and markets VOQUEZNA® in the United States.

Positive

• Attraction of top talent with appointment of new Chief Legal Officer
• Structured compensation package aligning executive interests with company performance
• Performance-based incentives tied to company financial objectives

Negative

• None.

FLORHAM PARK, N.J., June 23, 2025 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT), a biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases, today announced that, in connection with the appointment of Anne Marie Cook as Chief Legal Officer and Corporate Secretary, the Company’s Board of Directors has approved the grant of inducement awards.

On June 23, 2025, the Compensation Committee of the Company’s Board of Directors granted inducement awards to Ms. Cook under the Company’s 2025 Employment Inducement Incentive Award Plan (the “Inducement Plan”). Ms. Cook was granted a non-qualified stock option to purchase 210,000 shares of Phathom common stock under the Inducement Plan, 25% of which will vest on June 23, 2026, and the remainder of which will vest in 36 equal monthly installments thereafter. The stock option has an exercise price equal to the closing price of Phathom’s common stock on the Nasdaq Global Select Market on the grant date. In addition, Ms. Cook was granted an award of 50,400 performance stock units (at “target” performance levels, with the opportunity to earn up to 200% of the “target” number of units), the vesting of which is tied to the achievement of annual Company financial objectives over a three-year performance period ending December 31, 2027, and a service-based requirement. The vesting of all awards is subject to continued service. The awards will be subject to the terms and conditions of the Inducement Plan and the applicable award agreements. The awards are being granted as an inducement material to Ms. Cook entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

About Phathom Pharmaceuticals, Inc.
Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases. Phathom has in-licensed the exclusive rights to vonoprazan, a first-in-class potassium-competitive acid blocker (PCAB) that is currently marketed in the United States as VOQUEZNA® (vonoprazan) tablets for the relief of heartburn associated with Non-Erosive GERD in adults, the healing and maintenance of healing of Erosive GERD in adults and relief of associated heartburn, in addition to VOQUEZNA® TRIPLE PAK® (vonoprazan tablets, amoxicillin capsules, clarithromycin tablets) and VOQUEZNA® DUAL PAK® (vonoprazan tablets, amoxicillin capsules) for the treatment of H. pylori infection in adults. For more information about Phathom, visit the company’s website at www.phathompharma.com follow on LinkedIn and X.

MEDIA CONTACT
Nick Benedetto
1-877-742-8466
media@phathompharma.com

INVESTOR CONTACT
Eric Sciorilli
1-877-742-8466
ir@phathompharma.com

© 2025 Phathom Pharmaceuticals. All rights reserved.
VOQUEZNA, VOQUEZNA DUAL PAK, VOQUEZNA TRIPLE PAK, Phathom Pharmaceuticals, and their respective logos are registered trademarks of Phathom Pharmaceuticals, Inc.

FAQ

What inducement grants did Phathom Pharmaceuticals (PHAT) announce for their new CLO?

Phathom granted Anne Marie Cook options to purchase 210,000 shares of common stock and 50,400 performance stock units with potential 200% target earnings.

When will the stock options granted to Phathom's new CLO begin vesting?

The stock options will begin vesting on June 23, 2026 with 25% of the shares, followed by the remainder vesting in 36 monthly installments.

What is the performance period for the PSUs granted to Phathom's new Chief Legal Officer?

The performance stock units are tied to company financial objectives over a three-year performance period ending December 31, 2027.

What products does Phathom Pharmaceuticals currently market in the US?

Phathom markets VOQUEZNA® tablets for heartburn and GERD treatment, along with VOQUEZNA® TRIPLE PAK® and VOQUEZNA® DUAL PAK® for H. pylori infection treatment.