Form 4: Myriad Genetics Executive Brian J. Donnelly Reports Acquisition of Stock Units

Brian J. Donnelly, Chief Commercial Officer of Myriad Genetics, reports the acquisition of time-based and performance-based restricted stock units.

Summary

• Brian J. Donnelly, Chief Commercial Officer of Myriad Genetics, filed a Form 4 on May 2, 2025, reporting transactions from May 1, 2025.
• Donnelly acquired 269,905 time-based restricted stock units and 127,629 time-based restricted stock units, both at a price of $0.
• He also acquired 236,167 performance-based restricted stock units (PSUs) at a price of $0.
• Following these transactions, Donnelly beneficially owns 397,534 shares of common stock and 236,167 performance-based restricted stock units.
• The PSUs vest upon certification by the Compensation and Human Capital Committee based on the achievement of specified stock price milestones, with no portion vesting earlier than May 1, 2026.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, aligning executive interests with company performance. The sentiment is neutral to positive as it indicates continued investment in the company's leadership.

Positives

• The acquisition of restricted stock units and PSUs aligns the executive's interests with the company's performance.
• The vesting of PSUs based on stock price milestones incentivizes the executive to drive shareholder value.

Risks

• The vesting of PSUs is contingent on the achievement of specific stock price milestones, which may not be met.
• The vesting is also subject to the reporting person's continued employment or service, creating a potential risk if the executive leaves the company.

Future Outlook

The performance-based restricted stock units are tied to the achievement of specified stock price milestones, indicating a focus on future stock performance.

Industry Context

This filing is a routine disclosure related to executive compensation and is common in the biotechnology industry.

Comparison to Industry Standards

• Granting restricted stock units and performance-based equity is a standard practice in the biotech industry to incentivize executives.
• Companies like Illumina, Thermo Fisher Scientific, and Agilent Technologies also utilize similar equity-based compensation plans for their executives.
• The specific vesting conditions and stock price milestones would need to be compared to those of peer companies to assess the competitiveness of the compensation package.

Stakeholder Impact

• The acquisition of restricted stock units and PSUs by the Chief Commercial Officer aligns his interests with those of shareholders.
• The performance-based vesting criteria could potentially drive increased focus on stock price appreciation, benefiting shareholders.

Key Dates

Keywords

Myriad Genetics, Brian J. Donnelly, restricted stock units, performance-based restricted stock units, PSUs, Form 4, beneficial ownership, stock price milestones, equity incentive plan, Chief Commercial Officer