Phathom CEO exercises 90,000 performance stock units
Phathom Pharmaceuticals, Inc. President and CEO Steven L. Basta exercised 90,000 performance stock units, receiving an equal number of common shares on November 28, 2025.
Rhea-AI Filing Summary
Phathom Pharmaceuticals, Inc. President and CEO Steven L. Basta exercised 90,000 performance stock units, receiving an equal number of common shares on November 28, 2025. In connection with this vesting, 48,375 shares were delivered to the issuer at $15.62 per share to satisfy tax withholding obligations. After these transactions, he held 83,250 shares of common stock directly. A grant on April 3, 2025 covered 360,000 performance stock units, of which 90,000 vested on September 25, 2025 and another 90,000 on November 28, 2025; remaining units vest upon achievement of stock price hurdles over four years.
Positive
- None.
Negative
- None.
Insider Trade Summary
90,000 shares exercised/converted
Exercise
3 txns
Insider
Basta Steven L
Role
President and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Shares | 90,000 | $0.00 | $0.00 |
| Exercise | Common Stock | 90,000 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 48,375 | $15.62 | $756K |
Holdings After Transaction:
Performance Shares — 180,000 contracts (Direct);
Common Stock — 83,250 shares (Direct)
Footnotes (3)
- F1. Represents shares underlying the performance stock units that were surrendered by the reporting person to the Issuer in satisfaction of the Issuer's tax withholding obligation.
- F2. Each performance stock unit represents a contingent right to receive one share of common stock of the Issuer.
- F3. On April 3, 2025, the reporting person was granted 360,000 performance stock units, of which 90,000 vested on September 25, 2025 and an additional 90,000 vested on November 28, 2025, in each case due to the achievement of the applicable stock price hurdle. The remaining performance stock units will vest based on the achievement of stock price hurdles over a period of four years following the grant date, subject to the reporting person's continued service through the date each such stock price hurdle is achieved.
Key Figures
Performance stock units exercised: 90,000 units
Shares delivered for tax withholding: 48,375 shares
Tax withholding price: $15.62 per share
+4 more
7 metrics
Performance stock units exercised
90,000 units
Exercised into an equal number of common shares on November 28, 2025
Shares delivered for tax withholding
48,375 shares
Common shares delivered to issuer to satisfy tax withholding obligations
Tax withholding price
$15.62 per share
Per-share value applied to the 48,375 shares used for tax withholding
Performance stock units granted
360,000 units
Granted to Steven Basta on April 3, 2025
Units vested September 25, 2025
90,000 units
Vested upon achievement of an applicable stock price hurdle
Units vested November 28, 2025
90,000 units
Vested upon achievement of an applicable stock price hurdle
Common stock held after transactions
83,250 shares
Directly owned Phathom common shares following November 28, 2025 transactions
Key Terms
performance stock units, contingent right, stock price hurdle, tax withholding obligation
4 terms
performance stock units financial
"the reporting person was granted 360,000 performance stock units"
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
contingent right financial
"Each performance stock unit represents a contingent right to receive one share"
stock price hurdle financial
"vested ... due to the achievement of the applicable stock price hurdle"
tax withholding obligation financial
"surrendered by the reporting person to the Issuer in satisfaction of the Issuer's tax withholding obligation"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What transactions did Phathom Pharmaceuticals (PHAT) CEO Steven Basta report?
He exercised 90,000 performance stock units into common stock and delivered 48,375 shares at $15.62 per share to the issuer to satisfy tax withholding obligations. After these transactions, he directly held 83,250 shares of Phathom common stock.
How many performance stock units were granted to Phathom (PHAT) CEO Steven Basta?
Steven Basta was granted 360,000 performance stock units on April 3, 2025. Of these, 90,000 units vested on September 25, 2025 and another 90,000 units vested on November 28, 2025, each upon achieving applicable stock price hurdles.
What is Steven Basta’s Phathom (PHAT) common stock holding after these transactions?
Following the November 28, 2025 transactions, Steven Basta directly held 83,250 shares of Phathom Pharmaceuticals common stock. This post-transaction holding reflects his remaining direct equity position reported in the Form 4 data.
How will the remaining performance stock units for Phathom (PHAT) CEO vest?
The remaining performance stock units vest based on achieving specified stock price hurdles over a four-year period following the April 3, 2025 grant date, subject to Steven Basta’s continued service through the date each stock price hurdle is met.
AI-generated analysis. How Rhea-AI works. Not financial advice.
