Myriad Genetics, Inc. disclosed a separation agreement with former Chief Commercial Officer Brian Donnelly that includes a lump sum payment of $1,322,294. The company filed the report with the U.S. Securities and Exchange Commission on October 9, 2026, detailing the financial terms of Donnelly's exit.
Donnelly's departure from the Chief Commercial Officer role was effective September 16, 2026, with his separation from employment occurring at the close of business on September 21, 2026. Myriad Genetics entered into the Separation Agreement and Release of Claims on October 6, 2026. The agreement is scheduled to become effective on October 14, 2026, contingent upon Donnelly not revoking the document prior to that date.
The payment structure is governed by Donnelly's existing Severance and Change of Control Agreement. In exchange for complying with restrictive covenants, including customary non-solicitation and non-disparagement clauses, and providing a release of claims against Myriad Genetics, the company will issue the specified severance amount. The filing identifies Benjamin R. Wheeler as the Chief Financial Officer who signed the report on behalf of the registrant.
Equity compensation for Donnelly is subject to specific acceleration and vesting schedules outlined in the agreement. All outstanding time-based equity awards previously granted to him that were scheduled to vest on or before two years following the Separation Date will be accelerated. These awards are deemed to vest on the Separation Date, although annual vesting installments are structured to vest in monthly installments over the two-year period.
Any outstanding equity awards with unsatisfied performance-based conditions will remain outstanding under the agreement. If the applicable performance condition is satisfied on or before two years following the Separation Date, the award will vest to the extent earned and scheduled to vest within that timeframe. The full text of the Separation Agreement is attached to the filing as Exhibit 10.1 and is incorporated by reference, qualifying the summary description provided in the report.