8-KLeadership ChangesExhibits & Filings

Guardant Health, Inc. 8-K Report, Executive Changes (Jul 7, 2022)

Filed July 7, 2022For Securities:GH

Summary

Guardant Health, Inc. announced a strategic expansion of its Board of Directors, appointing Steve E. Krognes as a Class III director effective June 30, 2022. This move is significant as Mr. Krognes brings extensive financial and operational leadership experience from prominent biotech and life science companies, including his recent role as CFO of Denali Therapeutics and previous CFO positions at Genentech and Roche Holding AG. Mr. Krognes' appointment strengthens the Board's financial and governance expertise, particularly with his immediate placement as chair of the audit committee and a member of the nominating and corporate governance committee. His background in leading IPO efforts, managing corporate finance, and overseeing IT and M&A functions is highly relevant to Guardant Health's growth trajectory and its position in the rapidly evolving oncology diagnostics market. The company will provide standard non-employee director compensation, including equity awards, to Mr. Krognes.

Key Highlights

  • 1Appointment of Steve E. Krognes to the Board of Directors, increasing its size to eight.
  • 2Mr. Krognes appointed as Chair of the Audit Committee and a member of the Nominating and Corporate Governance Committee.
  • 3Krognes brings significant financial and operational leadership experience, including CFO roles at Denali Therapeutics and Genentech, and M&A experience at Roche.
  • 4The appointment enhances the Board's financial oversight and governance capabilities.
  • 5Mr. Krognes' term as a Class III director will expire at the 2024 Annual Meeting of Stockholders.
  • 6Krognes will receive standard non-employee director compensation, including stock options and restricted stock units valued at $362,500 each, with a modified grant date of August 9, 2022.
  • 7No undisclosed related-party transactions or arrangements exist concerning Mr. Krognes' appointment.

Frequently Asked Questions

Steve E. Krognes is a seasoned executive with extensive experience in the life sciences industry. He previously served as the Chief Financial Officer (CFO) of Denali Therapeutics Inc. and Genentech, Inc. He also held M&A leadership roles at Roche Holding AG and Danske Bank. Mr. Krognes has a strong track record in financial leadership, IPO execution, corporate finance, and governance, holding degrees from Harvard Business School and The Wharton School.

Mr. Krognes' appointment is significant because it brings valuable financial expertise and governance experience to Guardant Health's Board. His background in leading financial operations, IPOs, and strategic initiatives within major biotech firms like Denali and Genentech aligns well with Guardant Health's growth and operational needs. His immediate role as Chair of the Audit Committee is particularly important for financial oversight and investor confidence.

Mr. Krognes will receive the standard compensation for non-employee directors at Guardant Health. This includes a stock option award and a restricted stock unit award, each valued at $362,500. The grant date for these awards has been modified to August 9, 2022.

No, the filing states there are no arrangements or understandings between Mr. Krognes and any other person for his selection as a director. Furthermore, there are no reportable transactions in which Mr. Krognes has an interest that would require disclosure under SEC regulations.