Form 4: Myriad Genetics Executive Kevin Haas Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Chief Technology Officer Kevin Richard Haas of Myriad Genetics Inc. reports acquisition and disposal of common stock due to vesting of restricted stock units and tax withholding.
Summary
- Kevin Richard Haas, Chief Technology Officer of Myriad Genetics Inc., filed a Form 4 detailing changes in beneficial ownership.
- On March 13, 2025, Haas acquired 54,124 shares of common stock through time-based restricted stock units granted under the company's 2017 Employee, Director and Consultant Equity Incentive Plan at $0.
- These restricted stock units vest in three equal annual installments starting on the first anniversary of the grant date.
- On March 14 and 15, 2025, Haas disposed of 4,390 and 3,335 shares respectively at a price of $10.07 to cover tax withholding obligations related to the vesting of the restricted stock units.
- Following these transactions, Haas beneficially owns 187,723 shares of Myriad Genetics Inc. common stock.
Sentiment
Score: 5
Explanation: The document reflects routine executive stock transactions related to compensation and tax obligations, indicating a neutral sentiment.
Positives
- The acquisition of shares through restricted stock units indicates a long-term incentive for the executive.
- The vesting schedule of the restricted stock units encourages continued service and contribution to the company.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies and are closely monitored by investors for insights into management's confidence in the company's future performance.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units as a way to align management's interests with those of shareholders, similar to practices at companies like Illumina (ILMN) and Exact Sciences (EXAS).
- Tax withholding practices related to vesting of equity awards are standard across the industry.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/13/2025 | Acquisition of 54,124 shares of common stock through restricted stock units. |
| 03/14/2025 | Disposal of 4,390 shares for tax withholding at $10.07 per share. |
| 03/15/2025 | Disposal of 3,335 shares for tax withholding at $10.07 per share. |
| 03/17/2025 | Date of signature for the Form 4 filing. |
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