Phathom completes stock option exchange; 99.2% of eligible options surrendered for RSUs

Phathom Pharmaceuticals, Inc.

2,406,622 options surrendered (~99.2% of eligible) for 1,203,341 new RSUs at 2-for-1 ratio.
Terrie Curran exchanged 400,000 options for 200,000 RSUs; Azmi Nabulsi exchanged 220,000 for 110,000 RSUs.
New RSUs vest in three equal annual installments; program expired July 14, 2023.
Options were deeply underwater; exchange intended to retain employees and align incentives.

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