Attached files

file filename
EX-10.2 - EX-10.2 2013 EXECUTIVE INCENTIVE PLAN - MYRIAD GENETICS INCmygn-ex102_44.htm
EX-10.1 - EX-10.1 2017 EQUITY COMPENSATION PLAN - MYRIAD GENETICS INCmygn-ex101_17.htm

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  November 30, 2017

 

MYRIAD GENETICS, INC.

(Exact name of registrant as specified in its charter)

 

 

Delaware

 

0-26642

 

87-0494517

(State or other jurisdiction of

incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

320 Wakara Way

Salt Lake City, Utah 84108

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (801) 584-3600

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

 

 

 

 


ITEM 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

(e) On November 30, 2017, at our annual meeting of stockholders, our stockholders approved the adoption of the 2017 Employee, Director and Consultant Equity Incentive Plan (the “2017 Plan”).  The 2017 Plan allows for the issuance of up to 1,400,000 shares of our common stock pursuant to awards granted under the 2017 Plan and will allow for the issuance of up to a maximum of 9,851,092 shares of common stock that are represented by (i) 2,187,611 options outstanding under our 2003 Employee, Director and Consultant Stock Option Plan (the “2003 Plan”) and (ii) 7,663,481 options and restricted stock units (“RSUs”) outstanding under our 2010 Employee, Director and Consultant Equity Incentive Plan (the “2010 Plan”), that expire or are cancelled without delivery of shares of common stock on or after November 30, 2017. With the approval of the 2017 Plan, the remaining shares available for grant under our 2010 Plan will be cancelled and not available for award; accordingly, no additional shares will be awarded under our 2010 Plan. A description of the material features of the 2017  Plan and related matters are set forth in our definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on October 4, 2017, under the heading “Proposal 2: Approval of the 2017 Employee, Director and Consultant Equity Incentive Plan” and is incorporated herein by reference.  Such description is qualified in its entirety by reference to the actual terms of the Incentive Plan, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K.

On November 30, 2017, at our annual meeting of stockholders, our stockholders also re-approved our 2013 Executive Incentive Plan (the “Incentive Plan”), as amended, which provides for incentive compensation to our key officers and employees, who, from time to time may be selected for participation. The Incentive Plan is intended to provide incentives and rewards for the contributions of such employees toward the successful achievement of our financial and business goals established for the applicable performance period. Payments pursuant to the Incentive Plan are intended to qualify as “performance-based compensation” within the meaning of Section 162(m) of the Internal Revenue Code. A description of the material features of the Incentive Plan and related matters are set forth in our definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on October 4, 2017, under the heading “Proposal 3: Approval of the 2013 Executive Incentive Plan, as amended” and is incorporated herein by reference.  Such description is qualified in its entirety by reference to the actual terms of the Incentive Plan, a copy of which is filed as Exhibit 10.2 to this Current Report on Form 8-K.

ITEM 5.07    Submissions of Matters to a Vote of Security Holders

(a)  On November 30, 2017, we held our 2017 Annual Meeting of Stockholders (“the Annual Meeting”).  Of the 69,206,848 shares of common stock outstanding as of the record date of October 4, 2017, a quorum of 61,299,786 shares, or approximately 88.57% of the eligible shares, was present in person or represented by proxy.  

(b)  The following is a brief description of each matter submitted to a vote at the Annual Meeting, as well as the number of votes cast for and against and the number of abstentions and broker non-votes with respect to each matter.

Proposal No. 1: Elect Directors

To elect Walter Gilbert, PhD., Dennis Langer, M.D., J.D. and Lawrence C. Best to serve until the 2020 Annual Meeting of Stockholders, and until their successors are duly elected and qualified or until their earlier death, resignation, retirement or removal.

 

 

Votes

 

 

Votes

 

 

Broker

 

 

 

For

 

 

Withheld

 

 

Non-Votes

 

Walter Gilbert, Ph.D.

 

 

54,858,218

 

 

 

1,205,583

 

 

 

5,235,985

 

Dennis H. Langer, M.D., J.D.

 

 

54,887,069

 

 

 

1,176,732

 

 

 

5,235,985

 

Lawrence C. Best

 

 

55,617,399

 

 

 

446,402

 

 

 

5,235,985

 

Proposal No. 2: Approval of the 2017 Employee, Director and consultant Equity Incentive Plan

Votes

 

 

Votes

 

 

Votes

 

 

Broker

 

For

 

 

Against

 

 

Abstained

 

 

Non-Votes

 

 

54,533,993

 

 

 

1,447,316

 

 

 

82,492

 

 

 

5,235,985

 

Page 2


Proposal No. 3: Re-Approve the 2013 Executive Incentive Plan, As Amended

 

Votes

 

 

Votes

 

 

Votes

 

 

Broker

 

For

 

 

Against

 

 

Abstained

 

 

Non-Votes

 

 

55,256,766

 

 

 

753,116

 

 

 

53,919

 

 

 

5,235,985

 

Proposal No. 4: Independent Public Accountants

Votes

 

 

Votes

 

 

Votes

 

For

 

 

Against

 

 

Abstained

 

 

60,815,313

 

 

 

366,658

 

 

 

117,815

 

Proposal No. 5: Proposal, on an Advisory Basis, of the Compensation of Our Named Executive Officers, as Disclosed in the Proxy Statement

Votes

 

 

Votes

 

 

Votes

 

 

Broker

 

For

 

 

Against

 

 

Abstained

 

 

Non-Votes

 

 

53,958,432

 

 

 

2,058,355

 

 

 

47,014

 

 

 

5,235,985

 

Proposal No. 6: Advisory Vote on Frequency of Votes on Executive Compensation

 

1 Year

 

 

2 Years

 

 

3 Years

 

 

Abstain

 

 

45,591,329

 

 

 

87,458

 

 

 

10,353,747

 

 

 

31,267

 

 

 

TEM 9.01Financial Statements and Exhibits.

(d) Exhibits

 

(+)  Management contract or compensatory plan arrangement

 

 

Page 3


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

MYRIAD GENETICS, INC.

 

 

 

 

Date:  December 1, 2017

By:

 

/s/ R. Bryan Riggsbee

 

 

 

R. Bryan Riggsbee

 

 

 

Executive Vice President, Chief Financial Officer

 

Page 4