secwatch.observer — SEC 8-K summary
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Issuer:     Phathom Pharmaceuticals, Inc. (PHAT)
CIK:        0001783183
Form:       8-K
Filed at:   2025-04-01T23:59:59+00:00
Accession:  0001193125-25-069748
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

CEO transition at Phathom: Steven Basta appointed, Terrie Curran resigns effective March 31, 2025
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- Steven Basta appointed CEO, President and Class I director effective April 1, 2025; Terrie Curran resigned for personal reasons.
- Basta receives $700k base salary, 70% target bonus, and initial option grant of 1,085,000 shares vesting over 4 years.
- Basta also granted 360k stock-price-hurdle PSUs and 180k revenue-based PSUs (target) under new inducement plan.
- Curran severance includes base salary through June 30, 2026, 2025 target bonus lump sum, COBRA, and accelerated vesting.
- Board adopted 2025 Employment Inducement Incentive Award Plan reserving 2,500,000 shares without stockholder approval.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1783183/000119312525069748/0001193125-25-069748-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1783183/000119312525069748/d913876d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-069748

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