Form 4: Mirum Pharmaceuticals Director Receives Equity Grant
Director Equity Grant Disclosure
Director Patrick J. Heron was granted stock options and deferred stock units by Mirum Pharmaceuticals.
Summary
- Director Patrick J. Heron received an equity grant on June 15, 2026.
- The grant includes 3,772 stock options with an exercise price of $101.00.
- The grant includes 1,980 deferred stock units (DSUs).
- Both the options and DSUs vest on the first anniversary of the grant date or upon the 2027 annual stockholder meeting, whichever occurs first.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a routine administrative filing regarding director compensation, which is neutral in nature and does not signal a change in company strategy or financial health.
Positives
- Alignment of director interests with long-term shareholder value through equity-based compensation.
Negatives
- The issuance of new equity instruments results in potential future dilution for existing shareholders.
Risks
- Market volatility affecting the value of the granted equity.
- Potential dilution of existing shares upon the exercise of options or settlement of deferred stock units.
Future Outlook
The equity grants are subject to vesting conditions tied to the 2027 annual stockholder meeting or the first anniversary of the grant date.
Industry Context
StockSavvy.ai notes that standard equity compensation for board members is a common practice in the biotechnology sector to ensure director retention and alignment with corporate performance milestones.
Comparison to Industry Standards
- The use of a mix of stock options and deferred stock units is consistent with standard executive and director compensation packages in the mid-cap pharmaceutical industry.
- Vesting schedules tied to annual meetings are standard governance practices for public companies.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney | Patrick Heron appointed Doug Sheehy, Jody Howe, and Judit Ryvkin as attorneys-in-fact for SEC filings. | 2026-06-11 | Standard administrative procedure to ensure timely regulatory compliance. |
Stakeholder Impact
- Shareholders may experience minor dilution upon the eventual exercise or settlement of these equity instruments.
Next Steps
- Vesting of equity grants on the earlier of the first anniversary of the grant date or the 2027 annual stockholder meeting.
Key Dates
| Date | Description |
|---|---|
| 2026-06-11 | Date of Power of Attorney execution by Patrick Heron. |
| 2026-06-15 | Date of the equity grant transaction. |
| 2026-06-17 | Date of filing with the SEC. |
Keywords
Mirum Pharmaceuticals, MIRM, Director Compensation, Equity Grant, SEC Form 4, Stock Options, Deferred Stock Units
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