Phathom (PHAT) director James Topper receives 24,122 RSUs in equity grant
Rhea-AI Filing Summary
Phathom Pharmaceuticals director James N. Topper received an equity grant in the form of restricted stock units. On May 19, 2026, he was awarded 24,122 RSUs at a price of $0.00 per share under the company’s Non-Employee Director Compensation Program. These RSUs vest in full on the earlier of the first anniversary of the grant date or the next annual stockholder meeting, as long as he continues serving on the board. Each RSU converts into one share of common stock when it vests. After this grant, Topper directly holds 66,718 common shares, alongside additional indirect holdings through several Frazier Life Sciences and related entities, some of which he reports with limited pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 24,122 shares
Net Buy
5 txns
Insider
Topper James N
Role
Director, 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 24,122 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 66,718 shares (Direct);
Common Stock — 59,403 shares (Indirect, By Frazier Life Sciences X, L.P.);
Common Stock — 5,827,415 shares (Indirect, By Frazier Life Sciences IX, L.P.);
Common Stock — 1 shares (Indirect, By FHMLS IX, L.L.C.);
Common Stock — 3,912 shares (Indirect, By Topper Group III LLC)
Footnotes (5)
- 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.
- F2. The shares reported herein are held of record by Frazier Life Sciences X, L.P. FHMLS X, L.P. is the general partner of Frazier Life Sciences X, L.P. and FHMLS X, L.L.C. is the general partner of FHMLS X, L.P. The Reporting Person is one of two managing members of FHMLS X, L.L.C. The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
- F3. The shares reported herein are held of record by Frazier Life Sciences IX, L.P. FHMLS IX, L.P. is the general partner of Frazier Life Sciences IX, L.P. and FHMLS IX, L.L.C. is the general partner of FHMLS IX, L.P. The Reporting Person is one of two managing members of FHMLS IX, L.L.C. The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
- F4. The shares reported herein are held of record by FHMLS IX, L.L.C. The Reporting Person is one of two managing members of FHMLS IX, L.L.C. The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
- F5. The Reporting Person is a manager of Topper Group III LLC and has voting and investment power of the securities held by Topper Group III LLC.
Key Figures
RSU grant size: 24,122 RSUs
Grant price: $0.00 per share
Direct shares after grant: 66,718 shares
+4 more
7 metrics
RSU grant size
24,122 RSUs
Granted May 19, 2026 under Non-Employee Director Compensation Program
Grant price
$0.00 per share
Stated price for RSU award
Direct shares after grant
66,718 shares
Common stock directly held by Topper following RSU grant
Frazier Life Sciences IX holdings
5,827,415 shares
Indirect common stock holdings via Frazier Life Sciences IX, L.P.
Frazier Life Sciences X holdings
59,403 shares
Indirect common stock holdings via Frazier Life Sciences X, L.P.
Topper Group III LLC holdings
3,912 shares
Indirect common stock holdings; Topper has voting and investment power
FHMLS IX, L.L.C. holdings
1 share
Indirect common stock holdings via FHMLS IX, L.L.C.
Key Terms
Restricted Stock Units, Non-Employee Director Compensation Program, pecuniary interest, beneficial ownership, +1 more
5 terms
Restricted Stock Units financial
"The Restricted Stock Units ("RSUs") were granted on May 19, 2026, pursuant to the Issuer's Non-Employee Director Compensation Program."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Non-Employee Director Compensation Program financial
"The Restricted Stock Units ("RSUs") were granted on May 19, 2026, pursuant to the Issuer's Non-Employee Director Compensation Program."
pecuniary interest financial
"The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein."
beneficial ownership financial
"The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
voting and investment power financial
"The Reporting Person is a manager of Topper Group III LLC and has voting and investment power of the securities held by Topper Group III LLC."
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Phathom Pharmaceuticals (PHAT) director James Topper receive in this Form 4?
James N. Topper received a grant of 24,122 restricted stock units as non-cash equity compensation. The RSUs were issued under Phathom’s Non-Employee Director Compensation Program and increase his direct equity-based stake in the company as part of routine board compensation.
Are the Phathom (PHAT) RSUs granted to James Topper an open-market purchase?
No, the 24,122 RSUs are a compensation grant, not an open-market purchase. They were awarded at a stated price of $0.00 per share under the company’s Non-Employee Director Compensation Program, meaning they are part of standard non-cash director remuneration.
What indirect Phathom (PHAT) holdings are associated with James Topper in this Form 4?
The filing reports indirect holdings through Topper Group III LLC and various Frazier Life Sciences entities. For several positions, Topper is a managing member or related party and disclaims beneficial ownership except to the extent of his pecuniary interest, as described in the footnotes.