Phathom director receives 24,122-share stock grant

FIELDS HEIDI reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

FIELDS HEIDI reported acquisition or exercise transactions in this Form 4 filing.

Phathom Pharmaceuticals director Heidi Fields received a grant of 24,122 Restricted Stock Units (RSUs) on May 19, 2026 under the company’s Non-Employee Director Compensation Program. All RSUs vest in full on the earlier of the first anniversary of grant or the next annual stockholder meeting, contingent on continued board service. Following this award, Fields holds 54,122 shares of common stock, reflecting routine equity compensation with no cash purchase involved.

Insider Trade Summary

Grant/Award: 24,122 shares

Grant/Award 1 txn

Insider FIELDS HEIDI

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	24,122	$0.00	$0.00

Holdings After Transaction: Common Stock — 54,122 shares (Direct)

Footnotes (1)

1. F1. The Restricted Stock Units ("RSUs") were granted on May 19, 2026, pursuant to the Issuer's Non-Employee Director Compensation Program. 100% of the total number of RSUs granted shall vest on the first to occur of (A) the first anniversary of the date of grant or (B) the next occurring annual meeting of the Issuer's stockholders, subject to the Reporting Person's continuing service on the Board through such vesting date. Each RSU represents a contingent right to receive one share of common stock of the Issuer.

Key Figures

RSUs granted: 24,122 RSUs Grant price per share: $0.00 per share Shares held after grant: 54,122 shares

3 metrics

RSUs granted 24,122 RSUs Grant to director Heidi Fields on May 19, 2026

Grant price per share $0.00 per share Equity award, no cash purchase

Shares held after grant 54,122 shares Total common stock owned following RSU award

Key Terms

Restricted Stock Units ("RSUs"), Non-Employee Director Compensation Program, vest, contingent right

4 terms

Restricted Stock Units ("RSUs") financial

"The Restricted Stock Units ("RSUs") were granted on May 19, 2026"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

Non-Employee Director Compensation Program financial

"pursuant to the Issuer's Non-Employee Director Compensation Program"

vest financial

"100% of the total number of RSUs granted shall vest on the first to occur"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

contingent right financial

"Each RSU represents a contingent right to receive one share of common stock"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Phathom Pharmaceuticals (PHAT) director Heidi Fields receive in this Form 4?

Heidi Fields received a grant of 24,122 Restricted Stock Units (RSUs). The award is part of Phathom Pharmaceuticals’ Non-Employee Director Compensation Program and represents equity-based compensation rather than an open-market stock purchase.

When do Heidi Fields’ 24,122 Phathom (PHAT) RSUs vest?

All 24,122 RSUs vest 100% on the earlier of the first anniversary of the May 19, 2026 grant date or the next annual stockholder meeting, assuming Heidi Fields continues serving on Phathom’s board through that vesting date.

How many Phathom Pharmaceuticals (PHAT) shares does Heidi Fields hold after this grant?

After the RSU grant, Heidi Fields holds 54,122 shares of Phathom Pharmaceuticals common stock. This total reflects her direct ownership position reported in the Form 4 following the equity award on May 19, 2026.

Did Heidi Fields buy or sell Phathom (PHAT) shares in this Form 4 filing?

Heidi Fields did not buy or sell shares in the market. The Form 4 reports an acquisition coded “A,” indicating a grant or award of 24,122 RSUs as compensation, with no price paid per share.

What does each Phathom (PHAT) RSU granted to Heidi Fields represent?

Each RSU represents a contingent right to receive one share of Phathom common stock. Delivery of the underlying shares occurs when the RSUs vest, subject to Heidi Fields’ continued service on the board through the vesting date.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/21/2026 - 04:30 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

FIELDS HEIDI

(Last) (First) (Middle)

C/O PHATHOM PHARMACEUTICALS, INC.

100 CAMPUS DRIVE, SUITE 102

(Street)

FLORHAM PARK NEW JERSEY 07932

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Phathom Pharmaceuticals, Inc. [ PHAT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/19/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/19/2026		A		24,122(1)	A	$0	54,122	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The Restricted Stock Units ("RSUs") were granted on May 19, 2026, pursuant to the Issuer's Non-Employee Director Compensation Program. 100% of the total number of RSUs granted shall vest on the first to occur of (A) the first anniversary of the date of grant or (B) the next occurring annual meeting of the Issuer's stockholders, subject to the Reporting Person's continuing service on the Board through such vesting date. Each RSU represents a contingent right to receive one share of common stock of the Issuer.

	/s/ Anne Marie Cook, Attorney-in-Fact for Heidi Fields	05/21/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)