Director Mark Stenhouse awarded 24,122 RSUs at Phathom (PHAT)

Rhea-AI Filing Summary

Phathom Pharmaceuticals director Mark Stenhouse received a grant of 24,122 Restricted Stock Units (RSUs) of common stock. The award was granted on May 19, 2026 under the company’s Non-Employee Director Compensation Program and carries no cash exercise price.

All 24,122 RSUs will vest on the earlier of the first anniversary of the grant date or the next annual meeting of stockholders, as long as he continues serving on the board through that date. Each RSU converts into one share of common stock upon settlement, bringing his direct holdings to 54,122 shares after the grant.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Stenhouse Mark

Role null

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

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

Footnotes (1)

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Key Figures

RSUs granted: 24,122 RSUs Grant price: $0.00 per share Shares after grant: 54,122 shares +1 more

4 metrics

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

Grant price $0.00 per share Compensation award, not open-market purchase

Shares after grant 54,122 shares Total direct holdings following transaction

Vesting trigger First anniversary or next annual meeting 100% of RSUs vest on earliest of these events

Key Terms

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

3 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"

contingent right financial

"Each RSU represents a contingent right to receive one share"

Form 4 Insider Transactions: What Each Field Means →

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^*

Stenhouse Mark

(Last) (First) (Middle)

C/O PHATHOM PHARMACEUTICALS, INC.

100 CAMPUS DRIVE, SUITE 102

(Street)

FLORHAM PAK 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 Mark Stenhouse	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)

FAQ

What insider transaction did Phathom Pharmaceuticals (PHAT) report for Mark Stenhouse?

Phathom Pharmaceuticals reported that director Mark Stenhouse received 24,122 Restricted Stock Units (RSUs) of common stock as a grant on May 19, 2026, under the Non-Employee Director Compensation Program, increasing his direct holdings to 54,122 shares after the award.

Are the Phathom (PHAT) RSUs granted to Mark Stenhouse an open-market purchase?

No, the 24,122 RSUs granted to Mark Stenhouse are a compensation award, not an open‑market purchase. The Form 4 shows a grant (code A) at a price of $0.00 per share under the Non-Employee Director Compensation Program.

When do Mark Stenhouse’s Phathom (PHAT) RSUs vest?

All 24,122 RSUs granted to Mark Stenhouse vest on the earlier of the first anniversary of the May 19, 2026 grant date or the next annual meeting of Phathom stockholders, provided he continues serving on the board through that vesting date.

How many Phathom (PHAT) shares does Mark Stenhouse hold after this Form 4 transaction?

After the RSU grant, Mark Stenhouse is reported to beneficially own 54,122 shares of Phathom common stock directly. This total includes the 24,122 newly granted RSUs, each representing a contingent right to receive one share at vesting and settlement.

What does each Phathom (PHAT) RSU granted to Mark Stenhouse represent?

Each Restricted Stock Unit granted to Mark Stenhouse represents a contingent right to receive one share of Phathom common stock. The units will convert into shares once they vest, assuming he continues his service on Phathom’s board through the applicable vesting date.