Company: MYGN
Filing Date: 2025-02-24
Form Type: 8-K
Source: 0000899923-25-000010
Chunk: 4

Company: MYRIAD GENETICS INC
Filing Date: 2025-02-24
Form: 8-K
Item: Item 2.02
Chunk 4
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 to 75% of his annual base salary upon achievement of goals to be established by the CHCC or the Chief Executive Officer of the Company each fiscal year and will be eligible to participate in the Company’s annual long-term incentive compensation program. In addition, Mr. Verratti will be entitled to a one-time retention bonus in the amount of $400,000, which will be paid on the next regularly scheduled payroll date following July 1, 2027 (the “ Retention Date”), provided that if the Company terminates Mr. Verratti’s employment without Cause (as defined in the Verratti Severance and Change of Control Agreement (as defined below)) or Mr. Verratti terminates employment with the Company for Good Reason (as defined in the Verratti Severance and Change of Control Agreement), in either event prior to the Retention Date, then an amount equal to the retention bonus shall be added as a component of his severance payments pursuant to, and subject to the terms and conditions of, the Verratti Severance and Change of Control Agreement. Mr. Verratti will also be eligible to participate in the standard health, welfare and retirement benefit plans that are applicable to similarly situated executives of the Company. The Verratti Employment Agreement also provides for a one-time grant of 105,785 RSUs (the “ Verratti RSU Promotion Grant”) to Mr. Verratti in connection with his promotion. The Verratti RSU Promotion Grant will be subject to performance-based vesting in four equal installments based upon the achievement of certain stock price targets, provided that no portion of the Verratti RSU Promotion Grant shall vest earlier than the first anniversary of the Effective Date. The Verratti Employment Agreement also provides that Mr. Verratti will be eligible for a grant in 2025 of an additional equity award of RSUs valued at up to $2,750,000 in accordance with the Company’s annual equity grant cycle, with such award consisting of (i) 50% RSUs subject to standard time-based vesting and (ii) 50% RSUs subject to vesting upon meeting certain performance metrics and standard time-based vesting, as determined by the CHCC in its sole discretion.

The Company and Mr. Verratti also entered into a severance and change of control agreement on February 24, 2025 (the “ Verratti Severance and Change of Control Agreement”) that will supersede Mr. Verratti’s existing Severance