Myriad Genetics Announces Inducement Awards
Myriad Genetics (NASDAQ: MYGN) announced equity inducement awards for their newly appointed chief commercial officer, Mr. Donnelly. The compensation package includes:
- Total restricted stock units worth $3.75 million
- $2 million in time-based RSUs vesting equally over 4 years
- $1.75 million in performance-based PSUs tied to stock price targets
The exact number of units will be determined based on MYGN's closing price on April 30, 2025. The PSUs will vest in 25% increments upon reaching specific stock price milestones, with no vesting possible before the first employment anniversary. These awards were granted under Nasdaq Listing Rule 5635(c)(4) as material inducement for employment.
Myriad Genetics (NASDAQ: MYGN) ha annunciato premi azionari per il loro nuovo Chief Commercial Officer, il Sig. Donnelly. Il pacchetto di compenso include:
- Unità azionarie vincolate totali del valore di $3.75 milioni
- $2 milioni in RSU basate sul tempo che maturano equamente in 4 anni
- $1.75 milioni in PSU basate sulle performance legate agli obiettivi di prezzo delle azioni
Il numero esatto di unità sarà determinato in base al prezzo di chiusura di MYGN il 30 aprile 2025. I PSU matureranno in incrementi del 25% al raggiungimento di specifici traguardi di prezzo delle azioni, senza possibilità di maturazione prima del primo anniversario di impiego. Questi premi sono stati concessi ai sensi della Regola di Quotazione Nasdaq 5635(c)(4) come incentivo materiale per l'impiego.
Myriad Genetics (NASDAQ: MYGN) anunció premios de inducimiento de capital para su nuevo director comercial, el Sr. Donnelly. El paquete de compensación incluye:
- Unidades de acciones restringidas totales por valor de $3.75 millones
- $2 millones en RSU basadas en tiempo que se consolidan equitativamente durante 4 años
- $1.75 millones en PSU basadas en el rendimiento vinculadas a objetivos de precios de acciones
El número exacto de unidades se determinará en función del precio de cierre de MYGN el 30 de abril de 2025. Los PSU se consolidarán en incrementos del 25% al alcanzar hitos específicos de precios de acciones, sin posibilidad de consolidación antes del primer aniversario de empleo. Estos premios se otorgaron bajo la Regla de Cotización de Nasdaq 5635(c)(4) como un incentivo material para el empleo.
Myriad Genetics (NASDAQ: MYGN)는 새로 임명된 최고 상업 책임자인 Donnelly 씨를 위해 주식 유인 보상을 발표했습니다. 보상 패키지는 다음과 같습니다:
- 총 $3.75 백만 가치의 제한된 주식 단위
- 4년 동안 균등하게 분할되는 시간 기반 RSU로 $2 백만
- 주가 목표에 연계된 성과 기반 PSU로 $1.75 백만
정확한 단위 수는 2025년 4월 30일 MYGN의 종가를 기준으로 결정됩니다. PSU는 특정 주가 이정표에 도달할 때마다 25%씩 분할되어 지급되며, 첫 고용 기념일 이전에는 지급되지 않습니다. 이러한 보상은 고용을 위한 물질적 유인으로서 Nasdaq 상장 규칙 5635(c)(4)에 따라 부여되었습니다.
Myriad Genetics (NASDAQ: MYGN) a annoncé des récompenses d'incitation en actions pour leur nouveau directeur commercial, M. Donnelly. Le paquet de rémunération comprend :
- Des unités d'actions restreintes d'une valeur totale de 3,75 millions de dollars
- 2 millions de dollars en RSU basées sur le temps qui se libèrent également sur 4 ans
- 1,75 million de dollars en PSU basées sur la performance liées à des objectifs de prix des actions
Le nombre exact d'unités sera déterminé en fonction du prix de clôture de MYGN le 30 avril 2025. Les PSU se libéreront par increments de 25 % lorsqu'ils atteindront des jalons de prix spécifiques, sans possibilité de libération avant le premier anniversaire de l'emploi. Ces récompenses ont été accordées en vertu de la règle de cotation Nasdaq 5635(c)(4) comme incitation matérielle à l'emploi.
Myriad Genetics (NASDAQ: MYGN) hat Aktienanreize für ihren neu ernannten Chief Commercial Officer, Herrn Donnelly, angekündigt. Das Vergütungspaket umfasst:
- Gesamtwert der eingeschränkten Aktieneinheiten von 3,75 Millionen US-Dollar
- 2 Millionen US-Dollar in zeitbasierten RSUs, die gleichmäßig über 4 Jahre fällig werden
- 1,75 Millionen US-Dollar in leistungsbasierten PSUs, die an Kursziele gebunden sind
Die genaue Anzahl der Einheiten wird basierend auf dem Schlusskurs von MYGN am 30. April 2025 bestimmt. Die PSUs werden in 25%-Schritten fällig, wenn bestimmte Kursziele erreicht werden, wobei eine Fälligkeit vor dem ersten Beschäftigungsjubiläum nicht möglich ist. Diese Auszeichnungen wurden gemäß der Nasdaq-Listing-Regel 5635(c)(4) als materielle Anreize für die Beschäftigung gewährt.
- Structured executive compensation package heavily tied to stock performance incentivizes leadership to drive shareholder value
- Four-year vesting schedule promotes long-term executive retention
- Potential dilution of existing shareholders from new stock issuance
- Significant equity compensation expense of $3.75 million
SALT LAKE CITY, April 08, 2025 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in molecular diagnostics testing and precision medicine, announced today that in connection with the hiring of Mr. Donnelly as chief commercial officer, previously announced on April 7, 2025, the Board of Directors of Myriad Genetics authorized the grant to Mr. Donnelly of restricted stock units equal to
The number of restricted stock units granted will be determined based on the closing price of the company’s common stock on the Nasdaq Stock Market on April 30, 2025. The RSUs will vest in four equal installments on each of the first four anniversaries of the grant date provided that Mr. Donnelly is providing services to the company on such dates. The PSUs become eligible to vest upon achievement of certain stock price targets and will vest as to
About Myriad Genetics
Myriad Genetics is a leading molecular diagnostics testing and precision medicine company dedicated to advancing health and well-being for all. Myriad Genetics develops and offers molecular tests that help assess the risk of developing disease or disease progression and guide treatment decisions across medical specialties where molecular insights can significantly improve patient care and lower healthcare costs. For more information, visit www.myriad.com.
Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to Mr. Donnelly’s inducement awards. These “forward-looking statements” are management’s expectations of future events as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results, conditions, and events to differ materially and adversely from those anticipated. Such factors include those risks described in the company’s filings with the U.S. Securities and Exchange Commission, including the company’s Annual Report on Form 10-K filed on February 28, 2025, as well as any updates to those risk factors filed from time to time in the company’s Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. Myriad is not under any obligation, and it expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.
Investor Contact
Matt Scalo
(801) 584-3532
IR@myriad.com
Media Contact
Kate Schraml
(224) 875-4493
PR@myriad.com
FAQ
What is the total value of restricted stock units granted to Myriad Genetics' new CCO in April 2025?
How will the time-based RSUs vest for MYGN's new chief commercial officer?
When will the performance-based PSUs vest for Myriad Genetics' new executive?
How will MYGN determine the number of restricted stock units granted to Mr. Donnelly?
