- Myriad Genetics (MYGN, Financial) has announced equity inducement awards for their new chief commercial officer, Mr. Donnelly, valued at $3.75 million.
- The compensation is split into $2 million in time-based restricted stock units (RSUs) and $1.75 million in performance-based stock units (PSUs).
- Both RSUs and PSUs are part of Mr. Donnelly’s employment compensation under Nasdaq Listing Rule 5635(c)(4).
Myriad Genetics, Inc. (MYGN), a leader in molecular diagnostics and precision medicine, announced the approval of equity inducement awards totaling $3.75 million for their newly appointed chief commercial officer, Mr. Donnelly. The awards are divided into $2 million in time-based restricted stock units (RSUs) and $1.75 million in performance-based stock units (PSUs).
The RSUs will vest over four years, in equal annual installments, contingent upon Mr. Donnelly's continued employment. Meanwhile, the PSUs are tied to specific stock price targets and will vest in 25% increments once those targets are achieved. However, no vesting will occur before the first anniversary of Mr. Donnelly's employment with the company.
The exact number of shares granted will be determined by MYGN’s closing stock price on April 30, 2025. These inducements serve as a material incentive for Mr. Donnelly’s employment, granted according to Nasdaq Listing Rule 5635(c)(4).
Myriad Genetics continues to advance its mission in molecular diagnostics and precision medicine, offering tests that assess disease risk and guide treatment decisions, significantly impacting patient care and healthcare costs.
