Company: MYGN
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0000899923-25-000028
Chunk: 108

Company: MYRIAD GENETICS INC
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 108
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 representing 5,084,138 shares of common stock outstanding under the 2017 Plan and 915,237 remaining shares of common stock available for issuance under the 2017 Plan. If this Proposal 4 is approved by our stockholders, the 2017 Plan will provide for the issuance of up to 6,500,000 additional shares. Under the 2017 Plan, each share of common stock issued as a restricted stock unit counts against the number of total shares available for issuance under the 2017 Plan as one share. In addition, shares of common stock reserved for awards under the 2017 Plan that lapse or are canceled will be added back to the share reserve available for future awards on a one-to-one basis. However, shares of common stock tendered in payment for an award or shares of common stock withheld for taxes will not be available again for grant. The 2017 Plan currently provides that no participant may receive awards for more than 500,000 shares of common stock in any fiscal year. In connection with the expected future awards under the 2017 Plan to Mr. Raha, our incoming President and Chief Executive Officer effective April 30, 2025, as part of our 2025 annual equity granting cycle, the Board expects to increase this limit to no higher than 760,000 shares of common stock in any fiscal year. Additionally, for non-employee directors, the 2017 Plan provides that the aggregate grant date fair value of any stock rights granted in any calendar year cannot exceed $500,000 other than pursuant to an election to receive equity in lieu of cash for all or a portion of fees received for service on the Board or any committee thereof.

Restricted Stock Units and Restricted Stock . Restricted stock is common stock, and a restricted stock unit is a right to receive common stock, that is subject to restrictions, including a prohibition against transfer and a substantial risk of forfeiture, until the end of a “restricted period” during which the grantee must satisfy certain vesting conditions. If the grantee does not satisfy the vesting conditions by the end of the restricted period, the restricted stock is forfeited.

During the restricted period, the holder of restricted stock has the rights and privileges of a regular stockholder, except that the restrictions set forth in the applicable award agreement apply. For example, the holder of restricted stock may vote, but he or she may not sell the shares until the restrictions are lifted. During the restricted period, the holder of a restricted stock unit does not have