GUARDANT HEALTH, INC., DEF 14A filed on 4/28/2026
Proxy Statement (definitive)
v3.26.1
Cover
 12 Months Ended
Dec. 31, 2025
Document Information [Line Items]  
Document Type DEF 14A
Amendment Flag false
Entity Information [Line Items]  
Entity Registrant Name Guardant Health, Inc.
Entity Central Index Key 0001576280
v3.26.1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
Pay Versus Performance Disclosure
In accordance with rules adopted by the Securities and Exchange Commission pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding executive compensation for our principal executive officers (“PEOs”) and
Non-PEO
NEOs and Company performance for the fiscal years listed below.
 
Year
  
Summary
Compensation
Table Total for
Helmy
Eltoukhy (1)
($)
  
Summary
Compensation
Table Total for
AmirAli
Talasaz (1)
($)
  
Compensation
Actually Paid to
Helmy Eltoukhy
(1) (2) (3)
($)
  
Compensation
Actually Paid
to AmirAli
Talasaz
(1) (2) (3)
($)
  
Average
Summary
Compensation
Table Total for
Non-PEO

NEOs (1)
($)
  
Average
Compensation
Actually Paid
to
Non-PEO

NEOs
(1) (2) (3)
($)
  
 
Value of Initial
Fixed $100
Investment
based on: (4)
  
Net Income
($ Millions)
  
Revenue
(5)
($ Millions)
 
TSR
($)
  
Peer
Group
TSR
($)
2025
   8,661,132   8,661,227   79,799,894   79,799,989   3,350,246   22,187,910   79.25   124.75   (416.3)   982.0
2024
   11,613,450   11,613,545   15,045,202   15,045,297   3,951,238   5,196,364   23.70   93.49   (436.4)   739.0
2023
   11,591   26,415   (4,228,364)   (4,213,540)   4,344,931   2,870,807   20.99   94.03   (479.4)   563.9
2022
   11,632   11,175   (68,726,853)   (68,727,310)   3,895,818   538,306   21.10   89.90   (654.6)   449.5
2021
   13,665   13,271   (30,979,967)   (30,980,361)   5,016,617   3,923,973   77.61   100.02   (384.8)   373.7
 
(1)
Helmy Eltoukhy and AmirAli Talasaz were our PEOs in 2021, 2022, 2023, 2024 and 2025. The individuals comprising the
Non-PEO
NEOs for each year presented are listed below.
 
 
2021-2022
 
   
 
2023
 
   
 
2024
 
   
 
2025
 
Michael Bell
    Michael Bell    Michael Bell    Michael Bell
Craig Eagle
    Craig Eagle    Darya Chudova    Darya Chudova
Christopher Freeman
    Christopher Freeman    Terilyn Monroe    Craig Eagle
John Saia
    Darya Chudova    John Saia    John Saia
   Ines Dahne-Steuber      
 
(2)
The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation
S-K
and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in footnote 3 below.
 
(3)
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEOs and the
Non-PEO
NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table.
 
Year
   
Summary Compensation
Table Total for Helmy
Eltoukhy
($)
   
 
Exclusion of Stock
Awards and Option
Awards for Helmy
Eltoukhy
($)
   
Inclusion of Equity
Values for Helmy
Eltoukhy
($)
   
Compensation Actually
Paid to Helmy Eltoukhy
($)
2025    8,661,132    (8,647,709)    79,786,471    79,799,894
 
Year
   
Summary Compensation
Table Total for AmirAli
Talasaz
($)
   
 
Exclusion of Stock
Awards and Option
Awards for AmirAli
Talasaz
($)
   
Inclusion of Equity
Values for AmirAli
Talasaz
($)
   
Compensation Actually
Paid to AmirAli Talasaz
($)
2025    8,661,227    (8,647,709)    79,786,471    79,799,989
 
Year
   
Average Summary
Compensation Table
Total for Non-PEO

NEOs
($)
   
 
Average Exclusion of
Stock Awards and
Option Awards for
Non-PEO NEOs

($)
   
Average Inclusion of
Equity Values for
Non-PEO NEOs

($)
   
Average Compensation
Actually Paid to
Non-PEO NEOs
($)
2025    3,350,246    (2,424,119)    21,261,783    22,187,910
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
 
             
Year
  
Year-End Fair

Value of
Equity Awards
Granted During
Year That
Remained
Unvested as of
Last Day of
Year for Helmy
Eltoukhy
($)
  
Change in Fair
Value from
Last Day of
Prior Year to
Last Day of
Year of
Unvested
Equity Awards
for Helmy
Eltoukhy
($)
  
Vesting-
Date Fair
Value of Equity
Awards Granted
During Year
that Vested
During Year
for Helmy
Eltoukhy
($)
  
Change in Fair
Value from
Last Day of
Prior Year to
Vesting Date
of Unvested
Equity
Awards
that Vested
During Year
for Helmy
Eltoukhy
($)
  
Fair Value at
Last Day of
Prior Year
of Equity
Awards
Forfeited
During
Year
for Helmy
Eltoukhy
($)
  
Total -
Inclusion of
Equity Values
for Helmy
Eltoukhy
($)
2025   24,186,827   51,962,664   1,248,232   2,388,748   —   79,786,471
 
             
Year
  
Year-End Fair

Value of
Equity Awards
Granted During
Year That
Remained
Unvested as of
Last Day of
Year for AmirAli
Talasaz
($)
  
Change in Fair
Value from
Last Day of
Prior Year to
Last Day of
Year of
Unvested
Equity
Awards
for AmirAli
Talasaz
($)
  
Vesting-
Date Fair
Value of Equity
Awards Granted
During Year
that Vested
During Year for
AmirAli
Talasaz
($)
  
Change in Fair
Value from
Last Day of
Prior Year to
Vesting Date
of Unvested
Equity
Awards
that Vested
During Year
for AmirAli
Talasaz
($)
  
Fair Value at
Last Day of
Prior Year
of Equity
Awards
Forfeited
During Year
for AmirAli
Talasaz
($)
  
Total -
Inclusion of
Equity Values
for AmirAli
Talasaz
($)
2025   24,186,827   51,962,664   1,248,232   2,388,748   —   79,786,471
 
             
Year
  
Average Year-End

Fair Value of
Equity Awards
Granted During
Year That
Remained
Unvested as of
Last Day of Year
for Non-PEO

NEOs
($)
  
Average Change
in Fair Value
from Last Day
of Prior
Year to Last
Day of Year of
Unvested
Equity Awards
for Non-PEO

NEOs
($)
  
Average
Vesting-
Date Fair Value
of Equity
Awards
Granted
During
Year that
Vested
During
Year for
Non-PEO

NEOs
($)
  
Average
Change
in Fair Value
from Last
Day of Prior
Year to
Vesting
Date of
Unvested
Equity
Awards that
Vested
During
Year for
Non-PEO

NEOs
($)
  
Average Fair
Value at
Last Day
of Prior
Year of
Equity
Awards
Forfeited
During Year
for Non-PEO

NEOs
($)
  
Total -
Average
Inclusion of
Equity
Values for
Non-PEO

NEOs
($)
2025   8,135,766   9,088,298   —   4,037,719   —   21,261,783
 
(4)
The Peer Group TSR set forth in this table utilizes the Nasdaq Biotechnology Index which we also utilize in the stock performance graph required by Item 201(e) of Regulation
S-K
included in our Annual Report for the year ended December 31, 2025. The comparison assumes $100 was invested for the period starting December 31, 2020, through the end of the listed year in the Company and in the Nasdaq Biotechnology Index, respectively. Historical stock performance is not necessarily indicative of future stock performance.
 
(5)
We determined revenue to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEOs and
Non-PEO
NEOs in 2025.
       
Company Selected Measure Name Revenue        
Named Executive Officers, Footnote
 
2021-2022
 
   
 
2023
 
   
 
2024
 
   
 
2025
 
Michael Bell
    Michael Bell    Michael Bell    Michael Bell
Craig Eagle
    Craig Eagle    Darya Chudova    Darya Chudova
Christopher Freeman
    Christopher Freeman    Terilyn Monroe    Craig Eagle
John Saia
    Darya Chudova    John Saia    John Saia
   Ines Dahne-Steuber      
       
Peer Group Issuers, Footnote The Peer Group TSR set forth in this table utilizes the Nasdaq Biotechnology Index which we also utilize in the stock performance graph required by Item 201(e) of Regulation
S-K
included in our Annual Report for the year ended December 31, 2025. The comparison assumes $100 was invested for the period starting December 31, 2020, through the end of the listed year in the Company and in the Nasdaq Biotechnology Index, respectively. Historical stock performance is not necessarily indicative of future stock performance. 		       
Adjustment To PEO Compensation, Footnote
 
Year
   
Summary Compensation
Table Total for Helmy
Eltoukhy
($)
   
 
Exclusion of Stock
Awards and Option
Awards for Helmy
Eltoukhy
($)
   
Inclusion of Equity
Values for Helmy
Eltoukhy
($)
   
Compensation Actually
Paid to Helmy Eltoukhy
($)
2025    8,661,132    (8,647,709)    79,786,471    79,799,894
 
Year
   
Summary Compensation
Table Total for AmirAli
Talasaz
($)
   
 
Exclusion of Stock
Awards and Option
Awards for AmirAli
Talasaz
($)
   
Inclusion of Equity
Values for AmirAli
Talasaz
($)
   
Compensation Actually
Paid to AmirAli Talasaz
($)
2025    8,661,227    (8,647,709)    79,786,471    79,799,989
 
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
 
             
Year
  
Year-End Fair

Value of
Equity Awards
Granted During
Year That
Remained
Unvested as of
Last Day of
Year for Helmy
Eltoukhy
($)
  
Change in Fair
Value from
Last Day of
Prior Year to
Last Day of
Year of
Unvested
Equity Awards
for Helmy
Eltoukhy
($)
  
Vesting-
Date Fair
Value of Equity
Awards Granted
During Year
that Vested
During Year
for Helmy
Eltoukhy
($)
  
Change in Fair
Value from
Last Day of
Prior Year to
Vesting Date
of Unvested
Equity
Awards
that Vested
During Year
for Helmy
Eltoukhy
($)
  
Fair Value at
Last Day of
Prior Year
of Equity
Awards
Forfeited
During
Year
for Helmy
Eltoukhy
($)
  
Total -
Inclusion of
Equity Values
for Helmy
Eltoukhy
($)
2025   24,186,827   51,962,664   1,248,232   2,388,748   —   79,786,471
 
             
Year
  
Year-End Fair

Value of
Equity Awards
Granted During
Year That
Remained
Unvested as of
Last Day of
Year for AmirAli
Talasaz
($)
  
Change in Fair
Value from
Last Day of
Prior Year to
Last Day of
Year of
Unvested
Equity
Awards
for AmirAli
Talasaz
($)
  
Vesting-
Date Fair
Value of Equity
Awards Granted
During Year
that Vested
During Year for
AmirAli
Talasaz
($)
  
Change in Fair
Value from
Last Day of
Prior Year to
Vesting Date
of Unvested
Equity
Awards
that Vested
During Year
for AmirAli
Talasaz
($)
  
Fair Value at
Last Day of
Prior Year
of Equity
Awards
Forfeited
During Year
for AmirAli
Talasaz
($)
  
Total -
Inclusion of
Equity Values
for AmirAli
Talasaz
($)
2025   24,186,827   51,962,664   1,248,232   2,388,748   —   79,786,471
 
        
Non-PEO NEO Average Total Compensation Amount $ 3,350,246 $ 3,951,238 $ 4,344,931 $ 3,895,818 $ 5,016,617
Non-PEO NEO Average Compensation Actually Paid Amount $ 22,187,910 5,196,364 2,870,807 538,306 3,923,973
Adjustment to Non-PEO NEO Compensation Footnote
Year
   
Average Summary
Compensation Table
Total for Non-PEO

NEOs
($)
   
 
Average Exclusion of
Stock Awards and
Option Awards for
Non-PEO NEOs

($)
   
Average Inclusion of
Equity Values for
Non-PEO NEOs

($)
   
Average Compensation
Actually Paid to
Non-PEO NEOs
($)
2025    3,350,246    (2,424,119)    21,261,783    22,187,910
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
             
Year
  
Average Year-End

Fair Value of
Equity Awards
Granted During
Year That
Remained
Unvested as of
Last Day of Year
for Non-PEO

NEOs
($)
  
Average Change
in Fair Value
from Last Day
of Prior
Year to Last
Day of Year of
Unvested
Equity Awards
for Non-PEO

NEOs
($)
  
Average
Vesting-
Date Fair Value
of Equity
Awards
Granted
During
Year that
Vested
During
Year for
Non-PEO

NEOs
($)
  
Average
Change
in Fair Value
from Last
Day of Prior
Year to
Vesting
Date of
Unvested
Equity
Awards that
Vested
During
Year for
Non-PEO

NEOs
($)
  
Average Fair
Value at
Last Day
of Prior
Year of
Equity
Awards
Forfeited
During Year
for Non-PEO

NEOs
($)
  
Total -
Average
Inclusion of
Equity
Values for
Non-PEO

NEOs
($)
2025   8,135,766   9,088,298   —   4,037,719   —   21,261,783
 
        
Compensation Actually Paid vs. Total Shareholder Return
Relationship Between PEO and
Non-PEO
NEO Compensation Actually Paid and Company and Peer Group TSR
The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our
Non-PEO
NEOs, the Company’s cumulative TSR over the five most recently completed fiscal years, and the Nasdaq Biotechnology Index TSR over the same period.
 
 
LOGO 		       
Compensation Actually Paid vs. Net Income
Relationship Between PEO and
Non-PEO
NEO Compensation Actually Paid and Net Income
The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our
Non-PEO
NEOs, and our Net Income during the five most recently completed fiscal years.
 
 
LOGO 		       
Compensation Actually Paid vs. Company Selected Measure
Relationship Between PEO and
Non-PEO
NEO Compensation Actually Paid and Revenue
The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our
Non-PEO
NEOs, and our revenue during the five most recently completed fiscal years.
 
 
LOGO 		       
Total Shareholder Return Vs Peer Group
Relationship Between PEO and
Non-PEO
NEO Compensation Actually Paid and Company and Peer Group TSR
The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our
Non-PEO
NEOs, the Company’s cumulative TSR over the five most recently completed fiscal years, and the Nasdaq Biotechnology Index TSR over the same period.
 
 
LOGO 		       
Tabular List, Table
Tabular List of Most Important Financial Performance Measures
The following table presents the financial performance measures that the Company considers to have been the most important in linking Compensation Actually Paid to our PEOs and
Non-PEO
NEOs for 2025 to Company performance. The measures in this table are not ranked.
 
 
 
Revenue
Adjusted EBITDA
Gross Margin
 
        
Total Shareholder Return Amount $ 79.25 23.7 20.99 21.1 77.61
Peer Group Total Shareholder Return Amount 124.75 93.49 94.03 89.9 100.02
Net Income (Loss) $ (416,300,000) $ (436,400,000) $ (479,400,000) $ (654,600,000) $ (384,800,000)
Company Selected Measure Amount 982,000,000 739,000,000 563,900,000 449,500,000 373,700,000
Measure:: 1          
Pay vs Performance Disclosure          
Name Revenue        
Non-GAAP Measure Description We determined revenue to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEOs and
Non-PEO
NEOs in 2025. 		       
Measure:: 2          
Pay vs Performance Disclosure          
Name Adjusted EBITDA        
Measure:: 3          
Pay vs Performance Disclosure          
Name Gross Margin        
Helmy Eltoukhy [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount $ 8,661,132 $ 11,613,450 $ 11,591 $ 11,632 $ 13,665
PEO Actually Paid Compensation Amount $ 79,799,894 $ 15,045,202 $ (4,228,364) $ (68,726,853) $ (30,979,967)
PEO Name Helmy Eltoukhy Helmy Eltoukhy Helmy Eltoukhy Helmy Eltoukhy Helmy Eltoukhy
AmirAli Talasaz [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount $ 8,661,227 $ 11,613,545 $ 26,415 $ 11,175 $ 13,271
PEO Actually Paid Compensation Amount $ 79,799,989 $ 15,045,297 $ (4,213,540) $ (68,727,310) $ (30,980,361)
PEO Name AmirAli Talasaz AmirAli Talasaz AmirAli Talasaz AmirAli Talasaz AmirAli Talasaz
PEO | Helmy Eltoukhy [Member] | Equity Awards Adjustments          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 79,786,471        
PEO | Helmy Eltoukhy [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 24,186,827        
PEO | Helmy Eltoukhy [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 51,962,664        
PEO | Helmy Eltoukhy [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,248,232        
PEO | Helmy Eltoukhy [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,388,748        
PEO | Helmy Eltoukhy [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
PEO | Helmy Eltoukhy [Member] | Stock Awards and Option Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (8,647,709)        
PEO | AmirAli Talasaz [Member] | Equity Awards Adjustments          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 79,786,471        
PEO | AmirAli Talasaz [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 24,186,827        
PEO | AmirAli Talasaz [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 51,962,664        
PEO | AmirAli Talasaz [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,248,232        
PEO | AmirAli Talasaz [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,388,748        
PEO | AmirAli Talasaz [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
PEO | AmirAli Talasaz [Member] | Stock Awards and Option Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (8,647,709)        
Non-PEO NEO | Equity Awards Adjustments          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 21,261,783        
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 8,135,766        
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 9,088,298        
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 4,037,719        
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
Non-PEO NEO | Stock Awards and Option Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (2,424,119)        
v3.26.1
Award Timing Disclosure
 12 Months Ended
Dec. 31, 2025
Award Timing Disclosures [Line Items]  
Award Timing MNPI Disclosure
Equity Granting Practices
Except in unusual and compelling circumstances, the Compensation Committee does not grant stock options or similar equity awards during periods in which there is material nonpublic information about our Company, including (i) outside a “trading window” established in connection with the public release of earnings information under our Insider Trading Compliance Policy or (ii) at any time during the four business days prior to or the one business day following the filing of our periodic reports or the filing or furnishing of a
Form 8-K
that discloses material nonpublic information. The Compensation Committee does not take material nonpublic information into account when determining the timing and terms of equity awards. Stock options may occasionally be awarded on an
off-cycle
basis, including to new hires. The Company has not timed the disclosure of material nonpublic information to affect the value of executive compensation.
Award Timing Method The Compensation Committee does not take material nonpublic information into account when determining the timing and terms of equity awards. Stock options may occasionally be awarded on an
off-cycle
basis, including to new hires.
Award Timing MNPI Considered false
MNPI Disclosure Timed for Compensation Value false
v3.26.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true