[Form 4] Guardant Health, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Insider awards to Guardant Health director Alex M. Azar II

Alex M. Azar II, identified as a director of Guardant Health (GH), received equity awards on 09/12/2025. The filing reports a stock option to purchase 10,532 shares with an exercise price of $54.895 and an option term through 09/12/2035. The option and a separate restricted stock unit (RSU) award for 6,604 shares both vest over four years (25% one year after grant, remainder monthly over three years). The Form 4 was signed by an attorney-in-fact on 09/26/2025. The filing shows direct beneficial ownership following the grants: 10,532 option shares and 6,604 RSU shares.

Positive

• Equity awards granted to the director (10,532 option shares and 6,604 RSUs) indicate alignment of the director's interests with shareholders
• Multi-year vesting schedule (25% after one year, then monthly over three years) promotes long-term retention and alignment

Negative

• Potential dilution from issuance of 10,532 shares underlying the option and 6,604 RSU shares when vested or exercised
• Strike price disclosed ($54.895) sets the threshold for the option to become economically valuable to the holder

Insights

Corporate Governance Expert

TL;DR Director Alex Azar received standard multi-year equity awards tying long-term incentives to company performance and retention.

The Form 4 documents routine director compensation: a 10-year option (10,532 shares at $54.895) and 6,604 RSUs, both granted 09/12/2025 and vesting over four years with a 25% one-year cliff then monthly vesting. These structures are commonly used to align board members with shareholder interests and encourage multi-year retention. The filing is signed by an attorney-in-fact on 09/26/2025 and reports direct beneficial ownership following the grants.

Securities Analyst

TL;DR The disclosure is a routine insider grant; immediate market impact is likely limited absent other material events.

The document reports the issuance of equity-linked compensation rather than dispositions. The option covers 10,532 underlying shares at a $54.895 strike (exercisable through 09/12/2035) and 6,604 RSUs. Both awards vest over four years, indicating long-term alignment but potential future dilution when RSUs vest or options are exercised. No cash transactions, sales, or changes to existing holdings beyond these awards are reported.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Azar Alex M II

(Last) (First) (Middle)

3100 HANOVER STREET

(Street)

PALO ALTO CA 94304

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Guardant Health, Inc. [ GH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/12/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$54.895	09/12/2025		A		10,532		(1)	09/12/2035	Common Stock	10,532	$0	10,532	D
Restricted Stock Units	$0	09/12/2025		A		6,604		(2)	(3)	Common Stock	6,604	$0	6,604	D

Explanation of Responses:

1. The stock option was granted on September 12, 2025 and vests over a four-year period. 25% of the shares subject to such award will vest on the one-year anniversary of September 12, 2025 and the remaining 75% vests monthly for the three-year period thereafter.

2. The restricted stock unit award was granted on September 12, 2025 and vests over a four-year period. 25% of the shares subject to such award will vest on the one-year anniversary of September 12, 2025 and the remaining 75% vests monthly for the three-year period thereafter.

3. Not applicable for Restricted Stock Units.

Remarks:

	/s/ John G. Saia, as attorney-in-fact for Alex M. Azar II	09/26/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What did Guardant Health (GH) report on this Form 4?

The Form 4 reports that director Alex M. Azar II received a stock option for 10,532 shares and 6,604 restricted stock units on 09/12/2025 with specified vesting schedules.

What are the vesting terms for the equity awards in the GH Form 4?

Both the stock option and the RSU award vest over four years: 25% vests on the one-year anniversary of 09/12/2025 and the remaining 75% vests monthly over the following three years.

What is the exercise price and term of the option reported for GH insider Azar?

The stock option has an exercise price of $54.895 and an expiration/exercise term shown through 09/12/2035.

Were any shares sold or disposed of by the reporting person in this filing?

No. The Form 4 shows only awards acquired (stock option and RSUs); no dispositions or sales are reported.

Who signed the Form 4 for Alex M. Azar II?

The form was signed by John G. Saia, as attorney-in-fact for Alex M. Azar II on 09/26/2025.