v3.25.1
Equity
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Equity

(6) Equity

ADSs

 

On March 12, 2025, the Company announced its intent to effect the ADS Ratio Change on its ADSs from one ADS representing one Ordinary Share, to the new ratio of one ADS representing 20 Ordinary Shares. The effective date of the ADS Ratio Change was April 11, 2025.

During the three months ended March 31, 2025 and 2024, except as described above, the Company did not engage in any transactions involving its Ordinary Shares. Refer to Incentive Equity Awards below for discussions of Ordinary Shares issued as a result of stock option exercises and vesting of restricted stock units, or RSUs.

Incentive Equity Awards

The following table summarizes the aggregate number of stock options and RSUs outstanding under the Amarin Corporation plc 2020 Stock Incentive Plan, or the 2020 Plan, as of March 31, 2025:

 

 

March 31, 2025

 

Outstanding stock options

 

30,373,266

 

% of outstanding on a fully-diluted basis

 

7

%

Outstanding RSUs

 

19,716,149

 

% of outstanding on a fully-diluted basis

 

5

%

The following table represents equity awards activity during the three months ended March 31, 2025 and 2024:

 

 

Three months ended March 31,

 

 

2025

 

 

2024

 

Ordinary Shares issued for stock option exercises

 

—

 

 

 

9,500

 

Gross and net proceeds from stock option exercises

$

—

 

 

$

10,260

 

Ordinary Shares issued in settlement of vested RSUs

 

4,328,179

 

 

 

2,651,407

 

Ordinary Shares retained for settlement of employee tax obligations ─ RSUs

 

1,687,443

 

 

 

990,070

 

Ordinary Shares issued in settlement of vested Performance-based RSUs (1)

 

257,500

 

 

 

468,230

 

Ordinary Shares retained for settlement of employee tax obligations ─ Performance-based RSUs

 

117,898

 

 

 

227,380

 
(1)
Performance-based RSUs vested in connection with the achievement of certain performance conditions during the year.

In January 2025, the Company granted a total of 10,646,844 RSUs and 3,313,059 stock options to employees under the 2020 Plan. The RSUs and stock options vest 50% on both January 1, 2026 and July 1, 2026, respectively.

In February 2024, the Company granted a total of 6,800,500 RSUs and 2,662,000 stock options to employees under the 2020 Plan. The RSUs vest annually over a three-year period and the stock options vest quarterly over a four-year period with a one-year cliff vesting.