secwatch.observer — SEC 8-K summary
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Issuer:     Phathom Pharmaceuticals, Inc. (PHAT)
CIK:        0001783183
Form:       8-K
Filed at:   2023-07-17T23:59:59+00:00
Accession:  0001193125-23-188097
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1783183/000119312523188097/0001193125-23-188097-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1783183/000119312523188097/d513142d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-188097

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer