Company: MYGN
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0000899923-25-000028
Chunk: 106

Company: MYRIAD GENETICS INC
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 106
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 such approval.

On March 28, 2025, the Board voted to approve an amendment to the 2017 Plan to increase the aggregate number of shares of common stock available for the grant of awards under the 2017 Plan by an additional 6,500,000 shares. This amendment to increase the number of shares available for grant under the 2017 Plan is being submitted for approval at the Annual Meeting in order to ensure that we have an adequate number of shares available for issuance in order to grant equity incentive compensation awards to our employees, executive officers and directors pursuant to our compensation programs. Approval by our stockholders of this amendment to the 2017 Plan is also required by the listing rules of Nasdaq.

Our Board, the CHCC and management believe that the effective use of stock-based, long-term incentive compensation is vital to our ability to achieve strong performance in the future. The 2017 Plan maintains and enhances the key policies and practices adopted by our management and Board to align employee and stockholder interests. In addition, our future success depends, in large part, upon our ability to maintain a competitive position in attracting, retaining and motivating key personnel. We believe the authorization of an additional 6,500,000 shares for issuance under our 2017 Plan is essential to permit our management to continue to provide long-term, equity-based incentives to current and future key employees, consultants and directors. Additionally, we currently intend to continue to issue restricted stock unit awards as part of our equity incentive strategy to help mitigate stockholder dilution. Accordingly, our Board believes approval of the amendment to our 2017 Plan is in our best interests and those of our stockholders and recommends a vote ‘‘FOR’’ the approval of the amendment to the 2017 Plan.

The 2017 Plan includes the following provisions:

• Types of Awards — any stock right awarded under the 2017 Plan must be in the form of a restricted stock unit or a restricted stock grant;

• No Liberal Share Recycling — shares tendered in payment for an award or that are withheld to satisfy any tax withholding obligation related to any award will not again become available for issuance under the 2017 Plan;

• Cap on the number of shares to be issued per year — currently, 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, 202