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Stock Compensation
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Stock Compensation Stock Compensation
2022 Stock Option and Incentive Plan
In April 2022, the Company’s board of directors (the “Board”) approved the Esperion Therapeutics, Inc. 2022 Stock Option and Incentive Plan (as amended, the “2022 Plan”), which was approved by the Company's stockholders in May 2022. The number of shares of Common Stock available for awards under the 2022 Plan was set to 4,400,000, with any shares underlying awards that are forfeited, canceled, held back upon exercise of an option or settlement of an award to cover the exercise price or tax withholding, reacquired by the Company prior to vesting, satisfied without the issuance or shares, or otherwise terminated (other than by exercise) under the 2022 Plan may be added back to the shares of Common Stock available for issuance under the 2022 Plan. The 2022 Plan provides for the award of stock options (both incentive and non-qualified options), stock appreciation rights, restricted stock, restricted stock units ("RSUs"), unrestricted stock, cash-based awards, and dividend equivalent rights. Following the approval of the 2022 Plan, no further awards will be issued under the Company’s Amended and Restated 2013 Stock Option and Incentive Plan (the “2013 Plan”). In April 2023, the Board approved a first amendment to the 2022 Plan, which was approved by the Company's stockholders in June 2023, which increased the number of shares of Common Stock reserved for awards under the 2022 Plan to 10,650,000. In April 2024, the Board approved a second amendment to the 2022 Plan, which was approved by the Company's stockholders in May 2024, which increased the number of shares of Common Stock reserved for awards under the 2022 Plan to 16,900,000. In April 2025, the Board approved a third amendment to the 2022 Plan, which was approved by the Company's stockholders in May 2025, which increased the number of shares of Common Stock reserved for awards under the 2022 Plan to 23,150,000.

Employee Stock Purchase Plan
In April 2020, the Board approved the Esperion Therapeutics, Inc. 2020 Employee Stock Purchase Plan (as amended, the "ESPP"), which was approved by the Company's stockholders in May 2020 and was subsequently amended by a first amendment to the ESPP adopted by the Board in July 2020. The ESPP allows eligible employees to authorize payroll
deductions of up to 10% of their base salary or wages up to $25,000 annually to be applied toward the purchase of shares of Common Stock on the last trading day of the offering period. Participating employees will purchase shares of Common Stock at a discount of up to 15% on the lesser of the closing price of Common Stock on the NASDAQ Global Market (i) on the first trading day of the offering period or (ii) the last day of any offering period. Offering periods under the ESPP will generally be in six months increments, commencing on September 1 and March 1 of each calendar year with the administrator having the right to establish different offering periods. During the three and six months ended June 30, 2025, the Company recognized $0.1 million and $0.2 million respectively, of stock compensation expense related to the ESPP. During the three and six months ended June 30, 2024, the Company recognized no stock compensation expense related to the ESPP. In April 2024, the Board approved a second amendment to the ESPP, which was approved by the Company's stockholders in May 2024, which increased the number of shares of Common Stock reserved for future issuance under the ESPP by an additional 6,175,000 shares. As of June 30, 2025, there have been 956,635 shares issued and 6,043,365 shares reserved for future issuance under the ESPP.

2017 Inducement Equity Plan
In May 2017, the Board approved the Esperion Therapeutics, Inc. 2017 Inducement Equity Plan (as amended in November 2019 and August 2023, the "2017 Plan"). The number of shares of Common Stock available for awards under the 2017 Plan is 2,650,000, with any shares of Common Stock that are forfeited, cancelled, held back upon the exercise or settlement of an award to cover the exercise price or tax withholding, reacquired by the Company prior to vesting, satisfied without the issuance of Common Stock, or otherwise terminated (other than by exercise) under the 2017 Plan added back to the shares of Common Stock available for issuance under the 2017 Plan. The 2017 Plan provides for the granting of stock options, stock appreciation rights, restricted stock awards, restricted stock units ("RSUs"), unrestricted stock awards and dividend equivalent rights.

Stock Options
The following table summarizes the activity relating to the Company’s options to purchase Common Stock for the six months ended June 30, 2025:
Number of OptionsWeighted-Average Exercise Price Per ShareWeighted-Average Remaining Contractual Term (Years)Aggregate Intrinsic Value
(in thousands)
Outstanding at December 31, 20245,177,511 $8.70 7.43$480 
Granted2,161,040 $1.39 
Forfeited or expired(474,308)$14.32 
Exercised— $— 
Outstanding at June 30, 20256,864,243 $6.01 7.36$41 
Vested and expected to vest at June 30, 20256,864,243 $6.01 7.36$41 
Exercisable at June 30, 20253,417,015 $10.02 5.85$— 

Stock-based compensation related to stock options was $0.8 million and $1.6 million, respectively, for the three and six months ended June 30, 2025, including $0.1 million and $0.1 million, respectively, that was capitalized into inventory, and $1.1 million and $2.0 million, respectively, for the three and six months ended June 30, 2024, including $0.1 million and $0.2 million, respectively, that was capitalized into inventory. As of June 30, 2025, there was $4.9 million of unrecognized stock-based compensation expense related to unvested options, which will be recognized over a weighted-average period of 2.6 years.
Performance-Based Stock Options ("PBSOs")
In 2021, 2022, and 2023, the Company granted PBSOs from the 2013 Plan and the 2022 Plan, that vest upon various performance-based milestones as set forth in the individual grant agreements, such as achievement of predetermined clinical or regulatory outcomes. The actual number of units (if any) received under these awards will depend on continued employment and actual performance over the performance period. Each quarter, the Company updates their assessment of the probability that the performance milestone will be achieved. The Company amortizes the fair value of the PBSOs based on the expected performance period to achieve the performance milestone. The performance criteria was met in three months ended March 31, 2024.
The following table summarizes the activity relating to the Company’s PBSOs for the six months ended June 30, 2025:
Number of OptionsWeighted-Average Exercise Price Per ShareWeighted-Average Remaining Contractual Term (Years)Aggregate Intrinsic Value
(in thousands)
Outstanding at December 31, 2024632,950 $4.97 6.35$123 
Granted— $— 
Forfeited or expired(8,950)$1.62 
Exercised— $— 
Outstanding at June 30, 2025624,000 $5.01 5.24$— 
Vested and expected to vest at June 30, 2025624,000 $5.01 5.24$— 
Exercisable at June 30, 2025624,000 $5.01 5.24$— 

There was no stock-based compensation related to PBSOs for the three and six months ended June 30, 2025 and for the three months ended June 30, 2024. Stock-based compensation related to PBSOs for the six months ended June 30, 2024 was $0.5 million. As of June 30, 2025, there was no unrecognized stock-based compensation expense related to unvested PBSOs.
Restricted Stock Units ("RSUs")
The following table summarizes the activity relating to the Company’s RSUs for the six months ended June 30, 2025:
Number of
RSUs		Weighted-Average
Fair Value Per
Share
Outstanding and unvested December 31, 20244,447,074 $2.83 
Granted5,498,930 $1.48 
Forfeited(620,713)$2.28 
Vested(1,291,169)$2.92 
Outstanding and unvested June 30, 20258,034,122 $1.94 
Stock-based compensation related to RSUs was approximately $1.7 million and $3.3 million, respectively, for the three and six months ended June 30, 2025, including $0.1 million and $0.2 million, respectively, that was capitalized into inventory, and $1.9 million and $3.5 million, respectively, for the three and six months ended June 30, 2024, including $0.2 million and $0.3 million, respectively, that was capitalized into inventory. As of June 30, 2025, there was $15.0 million of unrecognized stock-based compensation expense related to unvested RSUs, which will be recognized over a weighted-average period of 2.9 years.
Performance-based Restricted Stock Units ("PBRSUs")
In 2021, the Company granted PBRSUs from the 2013 Plan that vest upon various performance-based milestones as set forth in the individual grant agreements, such as achievement of predetermined milestones based on the Company's U.S. net product sales or clinical or regulatory outcomes. The actual number of units (if any) received under these awards will depend on continued employment and actual performance over the performance period. Each quarter, the Company updates their assessment of the probability that the performance milestone will be achieved. The Company amortizes the fair value of the PBRSUs based on the expected performance period to achieve the performance milestone. The fair value of the PBRSUs is based on the quoted market price of Common Stock on the date of grant. The performance criteria was met in three months ended March 31, 2024.
There was no stock-based compensation related to PBRSUs for the three and six months ended June 30, 2025 and for the three months ended June 30, 2024. Stock-based compensation related to PBRSUs was $0.2 million for the six months ended June 30, 2024, including less than $0.1 million that was capitalized into inventory. As of June 30, 2025, there was no unrecognized stock-based compensation expense related to unvested PBRSUs and no outstanding and unvested PBRSUs.
The following table summarizes the total stock-based compensation expense in each of the income statement line items for the three and six months ended June 30, 2025 and 2024:
Three months ended June 30
Six months ended June 30
(in thousands)
(in thousands)
2025
2024
20252024
Research and development$412 $674 $781 $1,578 
Selling, general and administrative2,257 2,257 4,353 4,588 
Total stock compensation expense
$2,669 $2,931 $5,134 $6,166