Parikh Asit 4

What Happened Asit Parikh, a director of Phathom Pharmaceuticals (PHAT), received a grant of 24,122 restricted stock units (RSUs) on May 19, 2026. On May 20, 2026 he converted/exercised 17,500 derivative units at $4.95 per share (total cash cost reported $86,625) and those 17,500 shares were immediately disposed/transferred to the issuer at $0.00 per share (no proceeds reported).

Key Details

• Grant: 24,122 RSUs granted on May 19, 2026 (reported as $0.00 acquisition value).
• Conversion/Exercise: 17,500 shares exercised/converted on May 20, 2026 at $4.95 each — total $86,625.
• Disposition: Same day (May 20, 2026) 17,500 shares disposed/transferred to the issuer at $0.00 (no cash proceeds reported).
• Vesting note (footnote): RSUs were granted under the Non‑Employee Director Compensation Program; 100% of the RSUs vest on the earlier of the first anniversary of the grant or the next annual meeting, subject to continued board service. Each RSU represents a contingent right to one share.
• Filing: Form 4 filed May 21, 2026 for transactions on May 19–20, 2026 (appears to be filed within the usual two‑business‑day window).
• Shares owned after the transaction: not specified in the excerpt provided.

Context

• The filing shows both an award (RSUs) and a derivative conversion/exercise. The immediate transfer of the exercised 17,500 shares back to the issuer (reported with $0 proceeds) is commonly used to satisfy tax withholding or other issuer obligations, though the Form 4 does not state the reason.
• RSU grants are contingent awards that typically convert to shares only after vesting; the 24,122 RSUs granted here do not vest immediately but per the footnote on the stated schedule.
• This activity combines a director grant with a near‑term conversion/disposition; purchases/exercises can be interpreted as acquiring shares but the simultaneous surrender indicates no net cash sale proceeds in this reporting snippet.