Form 4: Mirum CFO Eric Bjerkhot Receives Significant Equity Awards

Mirum Pharmaceuticals' Chief Financial Officer, Eric Bjerkhot, was granted 49,900 derivative securities, including stock options and restricted stock units, on January 28, 2026.

Summary

• Chief Financial Officer Eric Bjerkhot acquired 18,140 stock options with an exercise price of $100.85 per share.
• CFO Eric Bjerkhot acquired 11,760 Restricted Stock Units (RSUs), each representing a contingent right to receive one share of common stock.
• CFO Eric Bjerkhot acquired 20,000 Performance Restricted Stock Units (PSUs) after performance criteria, initially granted on January 23, 2024, were determined to have been met on January 28, 2026.
• The total number of derivative securities acquired by the CFO in these transactions is 49,900.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a positive development, reflecting continued executive commitment and the successful achievement of performance milestones for a portion of the awards, which aligns management incentives with shareholder interests.

Positives

• The grant of 49,900 derivative securities aligns management incentives with long-term shareholder interests.
• Performance criteria for 20,000 Performance Restricted Stock Units were met, indicating successful achievement of company goals.

Future Outlook

The vesting schedules for the granted equity awards extend over several years, indicating a long-term incentive structure for the Chief Financial Officer and aligning future performance with shareholder value.

Industry Context

StockSavvy.ai notes that equity grants are a standard component of executive compensation packages across the biotechnology and pharmaceutical industries, designed to align management's long-term interests with those of shareholders and incentivize sustained company performance.

Comparison to Industry Standards

• Equity grants of this nature and structure are common in the biopharmaceutical sector for executive retention and performance incentives, comparable to practices at companies like Vertex Pharmaceuticals or Regeneron Pharmaceuticals, which frequently use stock options and restricted stock units to compensate key personnel.

Related Party Transactions

• Grant of 18,140 stock options, 11,760 Restricted Stock Units, and 20,000 Performance Restricted Stock Units to Chief Financial Officer Eric Bjerkhot by Mirum Pharmaceuticals, Inc.

Stakeholder Impact

• Shareholders: The equity grants align the Chief Financial Officer's interests with long-term shareholder value through performance-based incentives and vesting schedules, potentially fostering sustained growth and value creation.

Next Steps

• Vesting of 1/4th of stock options one year after January 28, 2026, with the balance vesting in 36 successive equal monthly installments thereafter.
• Vesting of 1/3rd of Restricted Stock Units on each anniversary of January 28, 2026, until fully vested on the three-year anniversary.
• Vesting of 2/3rds of Performance Restricted Stock Units on March 15, 2026.
• Vesting of the remaining 1/3rd of Performance Restricted Stock Units on March 15, 2027.

Key Dates

Recommendation

This Form 4 reports routine equity grants to an executive, which is a standard component of executive compensation. While it aligns management incentives, it does not provide new fundamental information to warrant a change in investment recommendation based solely on this filing.

Keywords

Mirum Pharmaceuticals, MIRM, Form 4, insider transaction, equity grant, stock options, restricted stock units, performance stock units, executive compensation