Equity

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Equity

(6) Equity

Common Stock

There was no common stock activity during the three months ended March 31, 2022 and 2021 except as described in Incentive Equity Awards below.

Incentive Equity Awards

The following table summarizes the aggregate number of stock options and restricted stock units, or RSUs, outstanding under the Amarin Corporation plc 2020 Stock Incentive Plan, or the 2020 Plan, as of March 31, 2022:

	March 31, 2022
Outstanding stock options		19,639,003
% of outstanding shares on a fully diluted basis		5	%
Outstanding RSUs		15,369,386
% of outstanding shares on a fully diluted basis		4	%

The following table represents equity awards activity during the three months ended March 31, 2022 and 2021:

	For the Three Months Ended March 31,
	2022		2021
Common shares issued for stock option exercises		10,602		783,320
Gross and net proceeds from stock option exercises	$	30,000	$	2,059,000
Common shares issued in settlement of vested RSUs		493,381		940,977
Shares retained for settlement of employee tax obligations ─ RSUs		161,083		365,463
Common shares issued in settlement of vested Performance-Based RSUs (1)		—		1,506,428
Shares retained for settlement of employee tax obligations ─ Performance-Based RSUs		—		638,502

(1)Performance-based RSUs vested in connection with the achievement of certain regulatory and sales performance conditions associated with the REDUCE-IT clinical trial and subsequent revenue growth. These performance-based RSUs have fully vested as of August 2021.

On February 4, 2022, the Company granted a total of 5,987,500 RSUs and 1,976,600 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. Also on February 4, 2022, the Company granted a total of 1,089,500 RSUs to certain employees under the 2020 Plan that vest upon the achievement of specified sales and operational performance conditions.

On January 10, 2022, the Company granted a total of 81,082 RSUs and 103,569 stock options to a newly appointed member of the Company’s Board of Directors under the 2020 Plan and in accordance with the Company's non-employee Director compensation policy. The RSUs vest in equal installments over a three-year period upon the anniversary of the grant date, and are subject to deferred settlement upon the Director’s separation of service with the Company. The stock options vest in full upon the one-year anniversary of the grant date. Upon termination of service to the Company or upon a change of control as defined in the 2020 Plan, the Director shall be entitled to a payment equal to the fair market value of one share of Amarin common stock per award vested or granted, respectively, which is required to be made in shares.

On June 14, 2021, the Company granted a total of 218,000 RSUs and 278,271 stock options to members of the Company’s Board of Directors under the 2020 Plan and in accordance with the Company's non-employee Director compensation policy. The RSUs vest in equal installments over a three-year period upon the earlier of the anniversary of the grant date or the Company’s annual general meeting of shareholders in such anniversary year, and are subject to deferred settlement upon the Director’s separation of service with the Company. The stock options vest in full upon the earlier of the one-year anniversary of the grant date or the Company’s annual general meeting of shareholders in such anniversary year. Upon termination of service to the Company or upon a change of control as defined in the 2020 Plan, each Director shall be entitled to a payment equal to the fair market value of one share of Amarin common stock per award vested or granted, respectively, which is required to be made in shares.

On January 4, 2021, the Company granted a total of 3,265,700 RSUs and 3,100,200 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. Also on January 4, 2021, the Company granted a total of 1,345,800 RSUs to certain employees under the 2020 Plan that vest upon the achievement of specified sales and operational performance conditions.