The full terms of the agreement will be disclosed in Natera's annual report on Form 10-K for the year ending December 31, 2024. This announcement is based on a press release statement and provides investors with the latest developments regarding Natera's executive management team. The stock currently trades near its 52-week high of $175.63, reflecting strong investor confidence.
For deeper insights into Natera's financial health and growth prospects, investors can access comprehensive analysis and 14 additional ProTips through InvestingPro's detailed research report. The stock currently trades near its 52-week high of $175.63, reflecting strong investor confidence. For deeper insights into Natera's financial health and growth prospects, investors can access comprehensive analysis and 14 additional ProTips through InvestingPro's detailed research report.
Under the amended and restated agreement, Dr. Rabinowitz will continue his role on an at-will basis, with an annual base salary set at half of the company's CEO's base salary.
Additionally, he is eligible for an annual cash bonus, which is 85% of his base salary, contingent upon the achievement of performance goals set by Natera's Board of Directors or its Compensation Committee. The company maintains a strong financial position, with InvestingPro analysis showing liquid assets exceeding short-term obligations by a factor of 4.4x.
The agreement also specifies that Dr. Rabinowitz will receive annual long-term equity awards proportional to those of the CEO. These awards will be 80% of the CEO's annual equity awards by dollar value, subject to Board or Compensation Committee approval. The distribution of these awards will mirror the CEO's, with a mix of time-based and performance-based vesting conditions.
In the event of an involuntary termination, Dr. Rabinowitz is entitled to severance benefits, including a lump-sum payment of 12 months' base salary, or 18 months' salary plus an annual bonus in case of termination within a year following a change in control of the company. He will also receive payment for COBRA premiums for up to 12 or 18 months, depending on the termination circumstances, and accelerated vesting of certain equity awards.
The full terms of the agreement will be disclosed in Natera's annual report on Form 10-K for the year ending December 31, 2024. This announcement is based on a press release statement and provides investors with the latest developments regarding Natera's executive management team.
In other recent news, Natera Inc (NASDAQ:NTRA). faced a setback in a false advertising lawsuit against Guardant Health (NASDAQ:GH), but the company remains firm in its disagreement with the decision. Despite this, Natera reported record Q3 revenue of $439.8 million, a 64% increase year-over-year, and conducted 137,000 oncology tests, marking a 54% increase from the previous year.
The company's gross margins reached a record high of 62%, leading to a revision of its full-year revenue guidance to between $1.61 billion and $1.64 billion. Natera's Signatera test, a major revenue contributor, showed promising results in predicting survival and chemotherapy benefits in colorectal cancer. Analyst firms TD Cowen, Baird, and Jefferies have maintained favorable ratings on Natera's stock and raised their price targets, reflecting confidence in the company's operational success and growth.
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