8-KLeadership ChangesExhibits & Filings

Guardant Health, Inc. 8-K Report, Executive Changes (Oct 20, 2021)

Filed October 20, 2021For Securities:GH

Summary

Guardant Health, Inc. (GH) announced a significant addition to its Board of Directors with the appointment of Myrtle Potter, effective October 15, 2021. This strategic move expands the Board to nine members and brings a wealth of experience in the biopharmaceutical industry, particularly in leadership roles overseeing drug development, commercial operations, and product launches. Ms. Potter's extensive background includes executive positions at Genentech, Roivant Sciences, and Sumitovant Biopharma, as well as significant board experience with major corporations like Amazon and Bristol-Myers Squibb. Her appointment, particularly to the audit committee, signals a commitment to strong governance and operational oversight. The company has also outlined Ms. Potter's compensation, which includes standard director equity awards in the form of stock options and RSUs, vesting over a period of four years, aligning her incentives with long-term shareholder value.

Key Highlights

  • 1Guardant Health appointed Myrtle Potter to its Board of Directors, expanding the board to nine members.
  • 2Ms. Potter brings extensive executive experience in the biopharmaceutical sector, including CEO roles at Sumitovant Biopharma and leadership at Genentech and Roivant Sciences.
  • 3She has been appointed to the audit committee of the Board, indicating a focus on financial oversight and governance.
  • 4Ms. Potter's compensation package includes equity awards valued at $362,500, consisting of stock options and restricted stock units, with a phased vesting schedule.
  • 5The appointment is effective October 15, 2021, and Ms. Potter will serve until the 2022 Annual Meeting of Stockholders.
  • 6There are no undisclosed arrangements or reportable transactions involving Ms. Potter's appointment.

Frequently Asked Questions

Myrtle Potter's appointment brings significant industry expertise and extensive leadership experience in the biopharmaceutical sector to Guardant Health's Board. Her background in drug development, commercial operations, and corporate governance, particularly her audit committee role, is expected to strengthen the company's strategic direction and oversight.

Ms. Potter will receive the standard compensation for non-employee directors, which includes equity awards valued at $362,500. These awards are comprised of stock options and restricted stock units that will vest over a four-year period, with one-fourth vesting on the first anniversary of her appointment and the remainder vesting monthly over the subsequent three years.

According to the filing, there are no undisclosed arrangements or understandings between Ms. Potter and any other person that led to her selection. Furthermore, there are no transactions in which Ms. Potter has an interest that would be reportable under Item 404(a) of Regulation S-K, indicating a clean appointment.

Ms. Potter has been appointed as a Class I director and will serve a term that expires at the 2022 Annual Meeting of Stockholders, or until her successor is duly elected and qualified, or until her earlier death, resignation, or removal.