Myriad Genetics Inc. Files Definitive Proxy Statement (DEF 14A)

Ticker: MYGN · Form: DEF 14A · Filed: Apr 17, 2024 · CIK: 899923

Myriad Genetics Inc DEF 14A Filing Summary
FieldDetail
CompanyMyriad Genetics Inc (MYGN)
Form TypeDEF 14A
Filed DateApr 17, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$118 million, $753.2 million, $7.3 million, $0.03, $774.4 million
Sentimentneutral

Sentiment: neutral

Topics: DEF 14A, Proxy Statement, Myriad Genetics, Executive Compensation, Shareholder Voting

TL;DR

<b>Myriad Genetics Inc. filed its Definitive Proxy Statement (DEF 14A) for the fiscal year ending December 31, 2023.</b>

AI Summary

MYRIAD GENETICS INC (MYGN) filed a Proxy Statement (DEF 14A) with the SEC on April 17, 2024. Filing is a Definitive Proxy Statement (DEF 14A) for Myriad Genetics Inc. The report covers the fiscal year ending December 31, 2023. Filed on April 17, 2024. Company's principal executive offices are located at 322 North 2200 West, Salt Lake City, UT 84116. The filing includes information related to executive compensation and stock/option awards for various periods.

Why It Matters

For investors and stakeholders tracking MYRIAD GENETICS INC, this filing contains several important signals. This filing is crucial for shareholders to understand executive compensation structures and potential voting matters. It provides insights into the company's governance and how shareholder interests are represented.

Risk Assessment

Risk Level: low — MYRIAD GENETICS INC shows low risk based on this filing. The filing is a routine DEF 14A, providing information on executive compensation and governance, with no immediate financial or operational performance indicators presented.

Analyst Insight

Shareholders should review the executive compensation details and any proposed resolutions to make informed voting decisions.

Key Numbers

  • 2023-12-31 — Fiscal Year End (Conformed Period of Report)
  • 2024-04-17 — Filing Date (As of Date)

Key Players & Entities

  • MYRIAD GENETICS INC (company) — Filer
  • 2024-04-17 (date) — Filing Date
  • 2023-12-31 (date) — Fiscal Year End
  • SALT LAKE CITY (location) — Business Address City
  • UT (location) — Business Address State
  • 84116 (postal_code) — Business Address Zip
  • 801-584-3600 (phone_number) — Business Phone
  • DEF 14A (document_type) — Form Type

FAQ

When did MYRIAD GENETICS INC file this DEF 14A?

MYRIAD GENETICS INC filed this Proxy Statement (DEF 14A) with the SEC on April 17, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by MYRIAD GENETICS INC (MYGN).

Where can I read the original DEF 14A filing from MYRIAD GENETICS INC?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by MYRIAD GENETICS INC.

What are the key takeaways from MYRIAD GENETICS INC's DEF 14A?

MYRIAD GENETICS INC filed this DEF 14A on April 17, 2024. Key takeaways: Filing is a Definitive Proxy Statement (DEF 14A) for Myriad Genetics Inc.. The report covers the fiscal year ending December 31, 2023.. Filed on April 17, 2024..

Is MYRIAD GENETICS INC a risky investment based on this filing?

Based on this DEF 14A, MYRIAD GENETICS INC presents a relatively low-risk profile. The filing is a routine DEF 14A, providing information on executive compensation and governance, with no immediate financial or operational performance indicators presented.

What should investors do after reading MYRIAD GENETICS INC's DEF 14A?

Shareholders should review the executive compensation details and any proposed resolutions to make informed voting decisions. The overall sentiment from this filing is neutral.

How does MYRIAD GENETICS INC compare to its industry peers?

Myriad Genetics operates in the biotechnology and healthcare sector, focusing on genetic testing and diagnostics.

Are there regulatory concerns for MYRIAD GENETICS INC?

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose information relevant to shareholders.

Industry Context

Myriad Genetics operates in the biotechnology and healthcare sector, focusing on genetic testing and diagnostics.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose information relevant to shareholders.

What Investors Should Do

  1. Review the proxy statement for details on executive compensation packages.
  2. Examine any proposals or resolutions presented for shareholder vote.
  3. Assess the company's corporate governance practices as outlined in the filing.

Key Dates

  • 2024-04-17: Filing Date — Definitive Proxy Statement filed
  • 2023-12-31: Fiscal Year End — Period reported in the filing

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard disclosure for annual meetings and executive compensation, not a direct comparison of financial performance against a prior filing.

Filing Stats: 4,484 words · 18 min read · ~15 pages · Grade level 14.6 · Accepted 2024-04-17 16:31:03

Key Financial Figures

  • $118 million — mber of legacy legal matters and raised $118 million in a successful equity offering. These
  • $753.2 million — increased 11% from fiscal year 2022 to $753.2 million. Our revenue growth was driven by Prena
  • $7.3 million — was $(25.5) million, an improvement of $7.3 million compared to adjusted operating loss of
  • $0.03 — for fiscal year 2023, an improvement of $0.03 compared to non-GAAP adjusted loss per
  • $774.4 million — Expenses : GAAP operating expenses were $774.4 million and non-GAAP adjusted operating expense
  • $545.5 m — n-GAAP adjusted operating expenses were $545.5 million, an increase of 6.8% year-over-ye

Filing Documents

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 29 Compensation Discussion and Analysis 29 Compensation and Human Capital Committee Report 4 6 Summary Compensation Table 47 202 3 Fiscal Year Grants of Plan-Based Awards 48 Narrative Disclosure to Summary Compensation Table and 202 3 Fiscal Year Grants of Plan-Based Awards Table 49 Outstanding Equity Awards at 202 3 Fiscal Year End 51 202 3 Fiscal Year Option Exercises and Stock Vested 52 Potential Payments Upon Termination or Change in Control 52 CEO Pay Ratio 56 Pay Versus Performance 5 6 Director Compensation 6 0 Equity Compensation Plan Information 6 2 Additional Information 6 2

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 6 3 AUDIT AND FINANCE COMMITTEE REPORT 6 5 CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS 6 6 PROPOSAL 1: ELECTION OF DIRECTORS 6 7 PROPOSAL 2: SELECTION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 68 Policy on Audit and Finance Committee Preapproval of Audit and Permissible Non-Audit Services of Independent Public Accountant 68 PROPOSAL 3: APPROVAL, ON AN ADVISORY BASIS, OF THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS, AS DISCLOSED IN THIS PROXY STATEMENT 70 CORPORATE CODE OF CONDUCT 72 OTHER MATTERS 72 STOCKHOLDER PROPOSALS AND NOMINATIONS FOR DIRECTOR 72 APPENDIX A A- 74 Proxy Summary This summary highlights information about Myriad Genetics, Inc. and its upcoming 2024 Annual Meeting of Stockholders ("Annual Meeting") contained elsewhere in this proxy statement or in our corporate governance documents published on our website at investor.myriad.com/corporate-governance. This summary does not contain all the information that you should consider, and you should read the entire proxy statement carefully before voting. Page references are provided to help you find further information in this proxy statement. Annual Meeting of Stockholders Time and Date: 8:00 a.m. Mountain Daylight Time on Thursday, June 6, 2024 Place: The Annual Meeting will be a completely virtual meeting. There will be no physical meeting location and the meeting will only be conducted via live webcast at the following address: www.virtualshareholdermeeting.com/MYGN2024 Record Date: Thursday, April 11, 2024 (as of the close of business) Mailing Date: This proxy statement was first mailed or made available to stockholders on or about April 17, 2024 Voting: Stockholders as of the record date are entitled to vote. Each share of common stock is entitled to one vote for each director nominee and one vote for each of the other proposals Voting Matters and Board Recommendations

Executive Compensation Highlights (page 29)

Executive Compensation Highlights (page 29) Our compensation programs are designed to attract and retain executive talent, motivate our executive officers through pay-for-performance metrics to enhance our growth and profitability and increase long-term stockholder value. Our fiscal year 2023 long-term and short-term incentive programs include performance metrics such as revenue, adjusted operating income, adjusted earnings per share, and relative total stockholder return measured against the Nasdaq Health Care Index ("IXHC"). To ensure that the interests of our executive officers are aligned with those of stockholders, our executive compensation program provides for a substantial majority of pay that is at-risk, that is, compensation that may be reduced in value or forfeited entirely dependi

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