Form 4: Mirum Pharmaceuticals Director Michael Grey Receives Equity Compensation

Mirum Pharmaceuticals, Inc. Director Michael G. Grey was granted 6,268 stock options and 3,977 deferred stock units on May 29, 2025, as part of his compensation.

Summary

• Michael G. Grey, a Director of Mirum Pharmaceuticals, Inc. (MIRM), reported changes in his beneficial ownership of company securities.
• On May 29, 2025, Mr. Grey acquired 6,268 stock options with an exercise price of $44.00 per share.
• These stock options are set to vest on the first anniversary of the grant date (May 29, 2026), or in any case, will be fully vested on the date of the Issuer's 2026 annual stockholder meeting. The options expire on May 28, 2035.
• Additionally, Mr. Grey acquired 3,977 Deferred Stock Units (DSUs) on the same date.
• Each DSU represents a contingent right to receive one share of Mirum's common stock.
• The DSUs will vest on the first anniversary of the grant date (May 29, 2026), or fully vest by the Issuer's 2026 annual stockholder meeting.
• Vested DSUs will be paid out in common stock upon the earliest of a change in control of the Issuer or within 60 days following separation from service with the Issuer.

Sentiment

Score: 7

Explanation: The filing reports a routine grant of equity compensation to a director, which is a standard practice to align management interests with shareholder value. This is generally viewed as a neutral to slightly positive event.

Positives

• The grant of stock options and deferred stock units to a director aligns their interests with those of shareholders, incentivizing long-term value creation.
• Equity compensation is a standard practice for attracting and retaining qualified board members.

Future Outlook

The granted stock options and deferred stock units are subject to future vesting schedules, with full vesting expected by the first anniversary of the grant date or the Issuer's 2026 annual stockholder meeting. Vested DSUs will be paid out upon a change in control or separation from service.

Industry Context

This Form 4 filing is a routine disclosure of insider equity compensation, common across publicly traded companies. It does not provide information on broader industry trends but reflects standard corporate governance practices regarding director incentives.

Stakeholder Impact

• Shareholders: The equity grants align the director's financial interests with the long-term performance of the company, potentially benefiting shareholders through improved governance and strategic decisions.

Next Steps

• Vesting of the 6,268 stock options on the first anniversary of the grant date (May 29, 2026) or by the 2026 annual stockholder meeting.
• Vesting of the 3,977 deferred stock units on the first anniversary of the grant date (May 29, 2026) or by the 2026 annual stockholder meeting.
• Potential payout of vested deferred stock units upon a change in control of Mirum Pharmaceuticals or within 60 days following Michael G. Grey's separation from service.

Key Dates

Keywords

Mirum Pharmaceuticals, MIRM, SEC Form 4, Insider Transaction, Stock Options, Deferred Stock Units, Equity Compensation, Director Compensation, Beneficial Ownership