Form 4: Mirum CFO Eric Bjerkhot Exercises, Sells Shares

Mirum Pharmaceuticals' CFO, Eric Bjerkhot, exercised restricted stock units and subsequently sold a portion of the shares to cover tax obligations.

Summary

• Eric Bjerkhot, Chief Financial Officer of Mirum Pharmaceuticals, Inc. (MIRM), reported transactions involving the company's common stock.
• On January 21, 2026, Mr. Bjerkhot acquired 3,334 shares of common stock through the exercise/conversion of restricted stock units (RSUs).
• Following this acquisition, his direct beneficial ownership of common stock increased to 43,548 shares, which includes 269 shares acquired via the Employee Stock Purchase Plan on November 10, 2025.
• On January 22, 2026, Mr. Bjerkhot disposed of 1,421 shares of common stock at a price of $93.3252 per share.
• These shares were sold specifically to cover tax withholding obligations associated with the vesting of the restricted stock units.
• After the sale, Mr. Bjerkhot's direct beneficial ownership of common stock stands at 42,127 shares.
• He also beneficially owns 6,666 restricted stock units, with 1/3rd vesting on each anniversary of January 21, 2025, over a three-year period.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive. The RSU vesting demonstrates continued executive alignment with shareholder interests through equity compensation. The subsequent sale of shares is a routine, non-discretionary event to cover tax obligations, often pre-planned under a 10b5-1 plan, and does not signal a negative outlook on the company.

Positives

• The vesting of restricted stock units indicates continued equity participation and alignment of the CFO's interests with shareholders.
• The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities, likely a Rule 10b5-1(c) plan, indicating pre-planned and non-discretionary activity.

Negatives

• A portion of shares were sold, which reduces the direct equity stake of the Chief Financial Officer, although this was for tax purposes.

Future Outlook

N/A

Industry Context

N/A

Stakeholder Impact

• Shareholders: The transaction is a routine insider compensation event and does not indicate a significant change in company fundamentals or strategy. It reflects the ongoing equity compensation structure for executives.
• Employees: The mention of the Employee Stock Purchase Plan (ESPP) indicates a broader employee equity program, aligning employee interests with company performance.

Next Steps

• Future vesting of the remaining 6,666 restricted stock units on each anniversary of January 21, 2025, until the three-year anniversary.

Key Dates

Recommendation

This Form 4 reports a routine insider transaction involving the vesting of restricted stock units and a subsequent sale of shares to cover tax obligations. Such transactions are common for executives receiving equity compensation and are often pre-scheduled under Rule 10b5-1 plans. There is no indication of discretionary selling that would suggest a change in management's outlook on the company's future prospects. Therefore, this filing does not provide new information that would warrant a change from a 'hold' recommendation.

Keywords

Mirum Pharmaceuticals, MIRM, Eric Bjerkhot, CFO, Insider Transaction, Form 4, Restricted Stock Units, RSU, Stock Sale, Tax Withholding, Equity Compensation