Phathom (PHAT) Director Karbe Frank Receives RSU Award

What Happened Director Karbe Frank received an award of 24,122 Restricted Stock Units (RSUs) on May 19, 2026, reported on a Form 4 filed May 21, 2026. The filing shows an acquisition-type transaction (code A) with $0 cash paid at grant — the RSUs are a compensation award, not an open-market purchase.

Key Details

• Transaction date: May 19, 2026; Form 4 filed: May 21, 2026 (appears timely under the two-business-day Form 4 rule).
• Transaction type/code: Grant/Award (A). Reported acquisition amount: 24,122 RSUs at $0.00.
• Vesting: 100% of RSUs vest on the earlier of (A) the first anniversary of grant or (B) the next annual meeting of stockholders, subject to continued board service (footnote F1).
• Each RSU represents a contingent right to receive one share of common stock upon vesting.
• Shares owned after the transaction: not specified in the provided filing excerpt.
• No indication of a 10b5-1 plan, tax-withholding sale, or late filing in the information provided.

Context RSU grants to directors are standard compensation and do not reflect an open-market buy or sale. Because these RSUs vest in the future and convert to shares only if the director remains in service, they are a retention/compensation tool rather than an immediate liquidity or market-timing signal.