Guardant Health, Inc. (GH) · Nov 3, 2026 · Other events
465,413 PSU grant — 116,353 three-year PSUs plus 349,060 five-year PSUs; maximum payout 250% of target
Guardant Health’s executive compensation filing grants its co-CEOs 465,413 target PSUs tied to three- and five-year relative TSR.
Guardant Health is in a rapid commercialization phase: its oncology and Shield screening businesses were driving 44% second-quarter revenue growth, while management raised 2026 revenue guidance to $1.34–$1.36 billion. This filing does not change that operating story. It is an executive-compensation grant to co-CEOs Helmy Eltoukhy and AmirAli Talasaz, not a new product, forecast, financing, or leadership change. The filing states that each PSU represents the right to receive one share, subject to vesting. 〔0〕
The award is designed to keep both founders tied to long-term shareholder performance. The 465,413 target PSUs are split between 116,353 three-year awards and 349,060 five-year awards, with vesting based on Guardant’s total shareholder return relative to an S&P 500 peer group. 〔1〕 At target, the grant equals roughly 0.35% of Guardant’s approximately 134.2 million shares outstanding as of July 24, 2026; at the maximum 250% payout, it could represent roughly 0.87%.
The main tension is alignment versus potential dilution, not business execution. The performance hurdle is meaningful—below the 40th percentile earns nothing, while the maximum requires at least the 90th percentile—but even a negative absolute TSR outcome can still permit up to 100% of target for each tranche. The filing also leaves the grant date and participant name as blanks in the supplied exhibit, so the exact effective date and finalized individual allocation are not clear from this document.
Bottom line: This is a long-term retention and incentive action for Guardant’s two founders, broadly consistent with an expected annual compensation cycle. It reinforces alignment but does not materially advance or weaken the company’s underlying growth story today.
Q3 2026 earnings report, November 5
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