Myriad Genetics Board and Officer Changes Announced
Ticker: MYGN · Form: 8-K · Filed: Dec 10, 2024 · CIK: 899923
| Field | Detail |
|---|---|
| Company | Myriad Genetics Inc (MYGN) |
| Form Type | 8-K |
| Filed Date | Dec 10, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $350,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, executive-compensation, board-of-directors
Related Tickers: MYGN
TL;DR
MYGN board shakeup: new directors in, some officers out, comp plans updated.
AI Summary
Myriad Genetics, Inc. announced on December 10, 2024, a change in its board of directors. Specifically, the company reported the departure of certain officers and the election of new directors, alongside updates to compensatory arrangements for its officers. The filing details these changes in corporate governance and executive compensation.
Why It Matters
Changes in a company's board of directors and executive compensation can signal shifts in strategy or financial priorities, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in board composition and executive compensation can indicate internal shifts that may affect company strategy and performance.
Key Players & Entities
- MYRIAD GENETICS INC (company) — Registrant
- December 10, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- Salt Lake City, Utah (location) — Principal executive offices
FAQ
What specific roles have been affected by the departure of officers?
The filing indicates the departure of 'certain officers' but does not specify the exact roles in this section of the 8-K.
Who are the newly elected directors?
The filing mentions the election of directors but does not list their names in the provided text.
What is the effective date of these changes?
The date of the earliest event reported is December 10, 2024.
Are there any specific details on the compensatory arrangements for officers?
The filing notes changes to 'Compensatory Arrangements of Certain Officers' but does not provide specific details within the provided text.
What is Myriad Genetics' primary business as indicated by its SIC code?
Myriad Genetics' Standard Industrial Classification (SIC) code is 2835, which corresponds to 'IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES'.
Filing Stats: 756 words · 3 min read · ~3 pages · Grade level 11 · Accepted 2024-12-10 16:08:33
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value MYGN Nasdaq Global Select Mar
- $350,000 — mmon stock having an aggregate value of $350,000. The foregoing grant will vest one year
Filing Documents
- mygn-20241210.htm (8-K) — 31KB
- ex991prnewboard121024.htm (EX-99.1) — 9KB
- 0000899923-24-000065.txt ( ) — 190KB
- mygn-20241210.xsd (EX-101.SCH) — 2KB
- mygn-20241210_def.xml (EX-101.DEF) — 14KB
- mygn-20241210_lab.xml (EX-101.LAB) — 25KB
- mygn-20241210_pre.xml (EX-101.PRE) — 15KB
- mygn-20241210_htm.xml (XML) — 3KB
02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
ITEM 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. On December 10, 2024, the Board of Directors (the " Board ") of Myriad Genetics, Inc. (the " Company ") approved an increase in the size of the Board from eight to nine members and appointed Mark S. Davis to fill the newly created vacancy, effective immediately, to serve as a Class I Director with a term expiring at the Company's 2027 Annual Meeting of Stockholders. The Board has determined that Mr. Davis (i) meets the independence requirements of the Securities and Exchange Commission (" SEC ") and Nasdaq Stock Market Rules and (ii) is an "audit committee financial expert" as defined in Item 407(d)(5) of Regulation S-K. The Board appointed Mr. Davis to serve on the Audit and Finance Committee of the Board, effective immediately. Mr. Davis will be compensated for his service as director on the same basis as other non-employee directors of the Company, as more fully described in the Company's non-employee director compensation policy (the " Non-Employee Director Compensation Policy "), a copy of which has been filed as Exhibit 10.6 to the Company's Annual Report on Form 10-K filed with the SEC on February 28, 2024 and incorporated by reference herein, as well as the "Director Compensation" section of the Company's definitive proxy statement for the 2024 Annual Meeting of Stockholders filed with the SEC on April 17, 2024. Pursuant to the Non-Employee Director Compensation Policy, in connection with his appointment to the Board, Mr. Davis was granted a restricted stock unit award for shares of Company common stock having an aggregate value of $350,000. The foregoing grant will vest one year following the grant date. Mr. Davis also entered into the Company's standard indemnification agreement for directors. There are no arrangements or understandings between Mr. Davis and any other person pursuant to which he was selected to serve on the Board, and Mr.
01 Financial Statements and Exhibits
ITEM 9.01 Financial Statements and Exhibits. Exhibit Number Description 99.1 Press Release, Dated December 10, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MYRIAD GENETICS, INC. Date: December 10, 2024 By: /s/ Scott J. Leffler Scott J. Leffler Chief Financial Officer