The total remaining shares of common stock authorized for issuance under the 2021 Stock Option and Incentive Plan (the "2021 Plan") increased from 7,230,834 as of December 31, 2024 to 8,361,873 as of June 30, 2025 primarily due to the automatic annual increase provision of the 2021 Plan.

The total remaining shares of common stock authorized for issuance under the 2016 Stock Incentive Plan as of June 30, 2025 and December 31, 2024 were 1,741,365 shares and 1,776,694 shares, respectively.

The total remaining shares of common stock authorized for issuance under the 2021 Employee Stock Purchase Plan (the "2021 ESPP") increased from 1,128,095 as of December 31, 2024 to 1,453,439 as of June 30, 2025 primarily due to the automatic annual increase provision of the 2021 ESPP.

In March 2025, the Company's board of directors adopted the Entrada Therapeutics, Inc. 2025 Inducement Equity Plan (the "2025 Inducement Plan"). The 2025 Inducement Plan provides for the grant of non-qualified stock options, stock appreciation rights, restricted stock awards, restricted stock units, unrestricted stock awards, and dividend equivalent rights with respect to an aggregate of 270,000 shares of Common Stock (subject to adjustment as provided in the 2025 Inducement Plan). Awards under the 2025 Inducement Plan may only be granted to new employees who were not previously employed by the Company or its affiliates, as an inducement material to such new employees' entry into

employment with the Company or its affiliates, in accordance with the requirements of Nasdaq Stock Market Rule 5635(c)(4). As of June 30, 2025, 270,000 shares remained authorized for issuance under the 2025 Inducement Plan.


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Research and development expenses	$	2,141	$	2,014	$	4,507	$	3,627
General and administrative expenses	2,907		2,608		5,628		4,728
Total	$	5,048	$	4,622	$	10,135	$	8,355

The following table presents, on a weighted-average basis, the assumptions used in the Black-Scholes option-pricing model to determine the fair value of stock options granted during the six months ended June 30, 2025 and 2024:

Shares purchased by employees pursuant to the early exercise of stock options are not deemed, for accounting purposes, to be outstanding shares until those shares vest according to their respective vesting schedules. Cash received from employee exercises of unvested options is included in current liabilities on the condensed consolidated balance sheet. Amounts recorded are reclassified to common stock and additional paid-in capital as the shares vest. Vesting can occur in the year of exercise and thereafter. There were no unvested shares and 1,676 unvested shares related to early exercises of stock options as of June 30, 2025 and December 31, 2024, respectively. As of June 30, 2025, there was no liability associated with the unvested early exercise of stock options. As of December 31, 2024, the liability associated with the unvested early exercise of stock options was less than $0.1 million.


	Number of Shares	Weighted‑ Average Exercise Price

Outstanding as of December 31, 2024	5,336,407	$	11.87
Granted	829,050	11.28
Exercised	(53,090)	7.07
Forfeited	(103,723)	13.56
Outstanding as of June 30, 2025	6,008,644	$	11.80
Exercisable as of June 30, 2025(1)	4,175,861	$	11.40

The weighted-average grant-date fair value of stock options granted during the six months ended June 30, 2025 and 2024 was $7.90 per share and $9.62 per share, respectively. As of June 30, 2025, there was $14.8 million of unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a weighted-average period of 2.4 years.

During the six months ended June 30, 2025, restricted stock units ("RSUs") were granted to employees with vesting conditions based on continued service over time. Accordingly, stock-based compensation expense for such awards is recognized using a straight-line attribution model over the vesting term of each RSU. The fair value of each RSU is based on the closing price of the Company's common stock on the date of grant.


	Shares	Weighted‑ Average Grant‑Date Fair Value
Unvested as of December 31, 2024	1,968,374	$	14.14
Granted	1,114,355	$	11.82
Vested	(354,248)	$	13.20
Forfeited	(244,443)	$	13.70
Unvested as of June 30, 2025	2,484,038	$	13.40

As of June 30, 2025, there was $28.4 million of unrecognized stock-based compensation expense related to restricted stock that is expected to vest. These costs are expected to be recognized over a weighted-average remaining vesting period of 2.9 years.

As of both June 30, 2025 and December 31, 2024, there were 438,500 PSUs outstanding. The PSUs will vest upon achievement of certain clinical milestones and continued employment thereafter.

As of June 30, 2025, no PSUs were vested and no stock-based compensation expense was recognized as the performance conditions were not deemed probable. As of June 30, 2025, there was $6.5 million of unrecognized stock-based compensation expense related to unvested PSUs.