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Mirum Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

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Mirum Pharmaceuticals (Nasdaq: MIRM) announced inducement grants approved by its Compensation Committee on December 10, 2024. The grants include 48,400 non-qualified stock options and 24,200 restricted stock units (RSUs) awarded to five new employees under the company's 2020 Inducement Plan.

The stock options, priced at $44.10 per share, will vest over four years with 25% vesting after one year and the remainder monthly over 36 months. The RSUs will vest over three years, with 33% vesting annually, subject to continued employment. These grants were made in accordance with Nasdaq Listing Rule 5635(c)(4).

Mirum Pharmaceuticals (Nasdaq: MIRM) ha annunciato i concessioni di indennità approvati dal suo Comitato per la Retribuzione il 10 dicembre 2024. Le concessioni includono 48.400 opzioni su azioni non qualificate e 24.200 unità azionarie ristrette (RSU) assegnate a cinque nuovi dipendenti nell'ambito del Piano di Indennità 2020 dell'azienda.

Le opzioni su azioni, prezzate a $44.10 per azione, acquisiranno valore nel corso di quattro anni, con il 25% che diventa disponibile dopo un anno e il restante mensilmente per 36 mesi. Le RSU acquisiranno valore in tre anni, con il 33% che matura annualmente, soggetto a un'occupazione continua. Queste concessioni sono state effettuate in conformità con la Regola di Quotazione 5635(c)(4) di Nasdaq.

Mirum Pharmaceuticals (Nasdaq: MIRM) anunció las concesiones de incentivos aprobadas por su Comité de Compensación el 10 de diciembre de 2024. Las concesiones incluyen 48,400 opciones sobre acciones no calificadas y 24,200 unidades de acciones restringidas (RSUs) otorgadas a cinco nuevos empleados bajo el Plan de Incentivos 2020 de la empresa.

Las opciones sobre acciones, fijadas en $44.10 por acción, se consolidarán durante cuatro años, con un 25% consolidándose después de un año y el resto mensualmente durante 36 meses. Las RSUs se consolidarán durante tres años, con un 33% consolidándose anualmente, sujeto a la continuidad del empleo. Estas concesiones se realizaron de acuerdo con la Regla de Cotización 5635(c)(4) de Nasdaq.

미룸 제약회사 (나스닥: MIRM)는 2024년 12월 10일 보상 위원회에서 승인한 유인 제안을 발표했습니다. 이 제안에는 회사의 2020 유인 계획에 따라 다섯 명의 새로운 직원에게 지급된 48,400개의 비자격 주식 옵션24,200개의 제한 주식 단위(RSU)가 포함됩니다.

주식 옵션은 $44.10의 가격으로, 4년 동안 단계적으로 부여되며, 첫 해에 25%가 부여되고 나머지는 36개월에 걸쳐 매달 부여됩니다. RSU는 3년 동안 부여되며, 매년 33%가 부여되며, 이는 계속 고용 조건에 따라 다릅니다. 이러한 제안은 나스닥 상장 규칙 5635(c)(4)에 따라 이루어졌습니다.

Mirum Pharmaceuticals (Nasdaq: MIRM) a annoncé des subventions d'incitation approuvées par son Comité de Rémunération le 10 décembre 2024. Les subventions comprennent 48 400 options d'actions non qualifiées et 24 200 unités d'actions restreintes (RSUs) attribuées à cinq nouveaux employés dans le cadre du Plan d'Incitation 2020 de l'entreprise.

Les options d'actions, au prix de $44.10 par action, acquerront de la valeur sur une période de quatre ans, avec 25% acquérant de la valeur après un an et le reste mensuellement sur 36 mois. Les RSUs acquerront de la valeur sur trois ans, avec 33% acquérant de la valeur annuellement, sous réserve d'une continuité d'emploi. Ces subventions ont été accordées conformément à la Règle de Cotation 5635(c)(4) de Nasdaq.

Mirum Pharmaceuticals (Nasdaq: MIRM) hat am 10. Dezember 2024 Induktionszuschüsse angekündigt, die von seinem Vergütungsausschuss genehmigt wurden. Die Zuschüsse umfassen 48.400 nicht qualifizierte Aktienoptionen und 24.200 beschränkte Aktieneinheiten (RSUs), die an fünf neue Mitarbeiter im Rahmen des Induktionsplans 2020 des Unternehmens vergeben wurden.

Die Aktienoptionen, die zu einem Preis von $44.10 pro Aktie angeboten werden, werden über vier Jahre gestaffelt, wobei 25% nach einem Jahr und der Rest monatlich über 36 Monate fällig werden. Die RSUs werden über drei Jahre gewährt, wobei 33% jährlich fällig werden, vorausgesetzt, die Beschäftigung bleibt bestehen. Diese Zuschüsse wurden gemäß der Nasdaq-Listing-Regel 5635(c)(4) gewährt.

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FOSTER CITY, Calif.--(BUSINESS WIRE)-- Mirum Pharmaceuticals, Inc. (Nasdaq: MIRM) today announced that on December 10, 2024, the Compensation Committee of Mirum’s Board of Directors granted inducement awards consisting of non-qualified stock options to purchase 48,400 shares of common stock and 24,200 restricted stock units (“RSUs”) to five new employees under Mirum’s 2020 Inducement Plan. The Compensation Committee of Mirum’s Board of Directors approved the awards as an inducement material to the new employees’ employment in accordance with Nasdaq Listing Rule 5635(c)(4).

Each stock option has an exercise price per share equal to $44.10 per share, Mirum’s closing trading price on December 10, 2024, and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the applicable vesting commencement date and the balance of the underlying shares vesting monthly thereafter over 36 months, subject to the new employees’ continued service relationship with Mirum through the applicable vesting dates. The RSUs will vest over three years, with 33% of the underlying shares vesting on each anniversary of the applicable vesting commencement date, subject to the new employees’ continued service relationship with Mirum through the applicable vesting dates. The awards are subject to the terms and conditions of Mirum’s 2020 Inducement Plan and the terms and conditions of an applicable award agreement covering the grant.

About Mirum Pharmaceuticals, Inc.

Mirum Pharmaceuticals, Inc. is a biopharmaceutical company dedicated to transforming the treatment of rare diseases affecting children and adults. Mirum has three approved medications: LIVMARLI® (maralixibat) oral solution, CHOLBAM® (cholic acid) capsules, and CHENODAL® (chenodiol) tablets.

LIVMARLI, an IBAT inhibitor, is approved for the treatment of two rare liver diseases affecting children and adults. It is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the U.S. (three months and older), in Europe (two months and older), and in other regions globally. It is also approved in the U.S. in cholestatic pruritus in PFIC patients 12 months of age and older; in Europe, it is approved for patients with PFIC three months of age and older. Mirum is also initiating the Phase 3 EXPAND study, a label expansion opportunity for LIVMARLI in additional settings of cholestatic pruritus. CHOLBAM is FDA-approved for the treatment of bile acid synthesis disorders due to single enzyme deficiencies and adjunctive treatment of peroxisomal disorders in patients who show signs or symptoms or liver disease. CHENODAL has received medical necessity recognition by the FDA to treat patients with cerebrotendinous xanthomatosis (CTX).

Mirum’s late-stage pipeline includes two investigational treatments for debilitating liver diseases. Volixibat, an IBAT inhibitor, is being evaluated in two potentially registrational studies including the Phase 2 VISTAS study for primary sclerosing cholangitis (PSC) and Phase 2b VANTAGE study for primary biliary cholangitis. Volixibat has been granted Breakthrough Therapy Designation for the treatment of cholestatic pruritus in patients with PBC. Lastly, chenodiol, has been evaluated in a Phase 3 clinical study, RESTORE, to treat patients with CTX, with positive topline results reported in 2023. Mirum has submitted a new drug application with the FDA for the approval of chenodiol to treat CTX in the U.S.

To learn more about Mirum, visit mirumpharma.com and follow Mirum on Facebook, LinkedIn, Instagram and X.

Investor Contact:

Andrew McKibben

ir@mirumpharma.com



Media Contact:

Erin Murphy

media@mirumpharma.com

Source: Mirum Pharmaceuticals, Inc.

FAQ

What was the exercise price of MIRM's stock options granted on December 10, 2024?

The stock options were granted with an exercise price of $44.10 per share, which was Mirum's closing trading price on December 10, 2024.

How many shares were included in MIRM's December 2024 inducement grants?

The inducement grants included options to purchase 48,400 shares of common stock and 24,200 restricted stock units (RSUs).

What is the vesting schedule for MIRM's December 2024 RSU grants?

The RSUs will vest over three years, with 33% of the underlying shares vesting on each anniversary of the vesting commencement date.

Mirum Pharmaceuticals, Inc.

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