Mirum Pharma Grants $3.1M in Inducement Awards to New Employees

Foster City, California – February 11, 2026 – Mirum Pharmaceuticals, Inc. (Nasdaq: MIRM) announced today that its Compensation Committee has granted inducement awards to 37 new employees. These awards, consisting of non-qualified stock options, restricted stock units (RSUs), and performance stock units (PSUs), are designed to attract and retain talent as the company expands its focus on rare disease therapeutics.

The inducement awards, approved in accordance with Nasdaq Listing Rule 5635(c)(4), include 163,040 stock options, 219,090 RSUs, and 48,880 PSUs. This type of grant is specifically permitted by Nasdaq rules as a material inducement to employment.

Understanding the Award Components

The stock options allow employees to purchase shares of Mirum’s common stock at an exercise price of $100.91 per share – the closing trading price on February 10, 2026. These options vest over a four-year period, with 25% vesting on the one-year anniversary of the grant date, and the remaining shares vesting monthly over the subsequent 36 months, contingent upon continued employment.

The RSUs will vest over three years, with 33% of the shares becoming vested on each anniversary of the initial vesting date, also subject to continued employment. RSUs represent a promise to deliver shares of company stock at a future date, providing employees with a direct stake in Mirum’s success.

The PSUs are tied to the company’s performance. Vesting of these units is contingent upon achieving specific net product sales levels during the years ending December 31, 2027, and December 31, 2028. If these sales targets are met, the PSUs will vest in two tranches, on March 15, 2028, and March 15, 2029, provided the employees remain with the company. The first tranche of PSU vesting is calculated based on 50% of the shares, adjusted by a percentage reflecting net sales performance in 2027, as certified by Mirum’s Board of Directors or its Compensation Committee. The second tranche follows a similar calculation based on 2028 net sales.

Mirum Pharmaceuticals: A Focus on Rare Diseases

Mirum Pharmaceuticals is a biopharmaceutical company dedicated to developing and commercializing treatments for rare diseases. The company’s current commercial portfolio includes three approved products:

• LIVMARLI® (maralixibat): Approved for Alagille syndrome (ALGS) and progressive familial intrahepatic cholestasis (PFIC).
• CHOLBAM® (cholic acid): Used to treat bile-acid synthesis disorders.
• CTEXLI® (chenodiol): Indicated for cerebrotendinous xanthomatosis (CTX).

Beyond its existing products, Mirum has a robust clinical pipeline, including:

• Volixibat: An IBAT inhibitor in late-stage development for primary sclerosing cholangitis (PSC) and primary biliary cholangitis (PBC).
• Brelovitug: A fully human monoclonal antibody in late-stage development for chronic hepatitis delta virus (HDV).
• MRM-3379: A PDE4D inhibitor being evaluated for Fragile X syndrome (FXS).

The company emphasizes a collaborative approach, working closely with patient communities and leveraging its expertise in rare disease drug development. The inducement grants to new employees underscore Mirum’s commitment to building a strong team to support its continued growth and innovation in this specialized field.

These types of inducement grants are a common practice for companies, particularly in the biotechnology sector, aiming to attract highly skilled personnel. By offering equity-based compensation, companies align employee interests with long-term company success. The vesting schedules ensure that employees have a continued incentive to contribute to Mirum’s goals over time.

The awards are governed by the terms of Mirum’s 2020 Inducement Plan and individual award agreements.