Myriad Genetics has granted one-time stock options to certain executives as a retention measure while it works on initiatives to improve operating efficiency and financial performance. The awards include options for three named executive officers, with all of their options scheduled to vest three years after the grant date if they remain with the company.
- Awards to named executives: Chief Operating Officer Mark S. Verratti received options covering 146,933 shares; Chief Financial Officer Benjamin R. Wheeler received options covering 121,379 shares; and Chief Scientific Officer Dale Muzzey received options covering 92,632 shares. Other executives also received awards, but their individual amounts were not specified.
- Exercise price: Each option’s exercise price is set at Myriad’s closing share price on the November 6, 2026 grant date. The options do not give executives shares immediately; they can buy shares at that price if and when the options become exercisable.
- Vesting and term: The options vest in full and become exercisable on the third anniversary of the grant, subject to continued service. They have a term of up to 10 years, with earlier termination possible under the award terms.
- If an executive leaves: Generally, vested options may remain exercisable for three months after a departure other than for death, disability or cause. A termination for cause ends the options immediately, including any vested portion. The executives’ applicable severance and change-in-control agreements also apply when employment ends.
The awards tie the executives’ ability to benefit to Myriad’s share price and give them an incentive to remain through the three-year vesting date. If exercised, the options would result in shares being issued and could dilute existing shareholders.