Micah Young becomes QuidelOrtho (NASDAQ: QDEL) CFO as Busky shifts to advisor
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
QuidelOrtho Corporation is appointing Micah Young as Chief Financial Officer and principal financial officer, effective July 6, 2026, succeeding retiring CFO Joseph M. Busky, who will remain through the transition and then serve as a special advisor.
Young, a seasoned medical technology finance executive and former CFO of Masimo Corporation, will receive a $750,000 annual base salary, an annual target cash bonus equal to 100% of base salary, a $500,000 cash sign-on bonus, and a one-time inducement grant of RSUs valued at $6,500,000 vesting over three years. He is also expected to receive 2027 equity grants valued at $5,000,000, split between time-based RSUs and stock options, along with severance and change-in-control protections consistent with other executives.
Busky will receive an annual base salary of $340,000 for six months after the effective date during the transition, then up to 24 months as special advisor at $100,000 per year, with continued eligibility for 2026 bonus and existing equity vesting terms.
Positive
- None.
Negative
- None.
8-K Event Classification
3 items: 5.02, 7.01, 9.01
3 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
CFO base salary: $750,000 per year
Target cash bonus: 100% of base salary
Cash sign-on bonus: $500,000
+5 more
8 metrics
CFO base salary
$750,000 per year
Annual base salary for Micah Young under Offer Letter
Target cash bonus
100% of base salary
Annual target cash bonus opportunity for Micah Young
Cash sign-on bonus
$500,000
One-time sign-on cash bonus for Micah Young
Inducement RSU grant
$6,500,000 grant-date value
RSUs vesting in equal annual installments over three years
Expected 2027 equity grant
$5,000,000
Future equity grants split 50% RSUs, 50% stock options
Severance legal/outplacement support
$25,000
Payment to defray legal, tax, accounting fees and outplacement
Busky transition salary
$340,000 per year
Annual rate for six months following effective date as CFO during transition
Busky advisor salary
$100,000 per year
Annual rate for up to 24 months as special advisor to CEO
Key Terms
restricted stock units, Nasdaq Listing Rule 5636(c)(4), Severance and Change in Control Agreement, Change in Control, +2 more
6 terms
restricted stock units financial
"a one-time inducement sign-on grant of restricted stock units (“RSUs”) with a grant date value of $6,500,000"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Nasdaq Listing Rule 5636(c)(4) regulatory
"The Company intends to grant the inducement RSUs to Mr. Young in accordance with and in reliance upon Nasdaq Listing Rule 5636(c)(4)."
Severance and Change in Control Agreement financial
"pursuant to a Severance and Change in Control Agreement (the “Severance and CIC Agreement”)"
Change in Control financial
"more than two years following a Change in Control (as defined therein)"
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
Non-CIC Qualifying Termination financial
"more than two years following a Change in Control (as defined therein) (a “Non-CIC Qualifying Termination”)"
CIC Qualifying Termination financial
"terminated within two years following or 30 days prior to a Change in Control (a “CIC Qualifying Termination”)"
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 22, 2026
(Exact name of Registrant as specified in its Charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Address of principal executive offices, including zip code)
(858 ) 552-1100
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
| Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). | |||||
| Emerging growth company | |||||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ☐ | ||||
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Announcement of New Chief Financial Officer
The Board of Directors of QuidelOrtho Corporation (the “Company”) has appointed Micah Young to serve as the Company’s Chief Financial Officer and principal financial officer, effective as of July 6, 2026 (the “Effective Date”). Mr. Young will succeed Joseph M. Busky, who previously announced his plans to retire, as disclosed in the Company’s Current Report on Form 8-K filed on February 13, 2026. Mr. Busky has agreed to continue to serve in his current role through the Effective Date, and in connection therewith, is expected to enter into a transition and retirement agreement to provide for the smooth and orderly transition of his duties.
Mr. Young (age 48) most recently served as Executive Vice President and Chief Financial Officer of Masimo Corporation (formerly, Nasdaq: MASI), a global medical technology company, from October 2017 until Masimo’s acquisition by Danaher Corporation in June 2026. In this role, Mr. Young was responsible for finance and accounting functions, as well as investor relations, information technology and corporate development. From 2009 to 2017, Mr. Young served in various finance roles at NuVasive, Inc. (formerly, Nasdaq: NUVA), a medical device company focused on the design, development and marketing of products for the surgical treatment of spine disorders, including most recently as Vice President, Finance. From 2002 to 2009, Mr. Young held various accounting and finance positions with Zimmer Holdings, Inc., a company focused on the design, development, manufacture and marketing of orthopedic reconstructive, spinal and trauma devices, dental implants and related surgical products. Prior to his time at Zimmer Holdings, Inc., Mr. Young was an auditor at Deloitte & Touche LLP from 2000 to 2002. He holds a B.S. in Accounting and Criminal Justice from Indiana Wesleyan University and is a Certified Public Accountant (inactive).
Employment Offer Letter and Agreements with Micah Young
The Company and Mr. Young have entered into an employment offer letter, dated June 22, 2026 (the “Offer Letter”), pursuant to which Mr. Young is entitled to receive (i) an annual base salary of $750,000 and (ii) an annual target cash bonus opportunity of 100% of base salary. Mr. Young will also receive a cash sign-on bonus in the amount of $500,000, and a one-time inducement sign-on grant of restricted stock units (“RSUs”) with a grant date value of $6,500,000, which is subject to vesting in equal annual installments over a three-year period. The Company intends to grant the inducement RSUs to Mr. Young in accordance with and in reliance upon Nasdaq Listing Rule 5636(c)(4). Mr. Young will be eligible to receive future equity grants, with an expected 2027 grant value of $5,000,000, consisting of (a) 50% time-based RSUs, and (b) 50% non-qualified stock options. Mr. Young will also be eligible for health, welfare and other benefits afforded Company executive officers, as well as reimbursement of reasonable legal fees incurred in connection with the negotiation of the Offer Letter.
Under the Offer Letter, Mr. Young will also receive severance and change in control protection consistent with other arrangements with Company executive officers pursuant to a Severance and Change in Control Agreement (the “Severance and CIC Agreement”), substantially in the form as filed as Exhibit 10.15 to the Company’s Annual Report on Form 10-K for the year ended December 28, 2025 filed on February 19, 2026 (the “Annual Report”). The Severance and CIC Agreement provides for the payment of severance benefits if (1) the executive’s employment is terminated without Cause (as defined therein) more than 30 days prior to or more than two years following a Change in Control (as defined therein) (a “Non-CIC Qualifying Termination”) or (2) the executive’s employment is terminated within two years following or 30 days prior to a Change in Control (a “CIC Qualifying Termination”) for any reason other than the executive’s voluntary resignation, the executive’s death or permanent disability, or our termination of the executive for Cause. In the case of a Non-CIC Qualifying Termination, Mr. Young would generally be entitled to (i) a severance payment equal to two times the sum of his annual base salary and bonus; (ii) continued benefits coverage for up to two years; and (iii) payment of $25,000 to help defray legal, tax and accounting fees, executive outplacement services and other costs (collectively, the “Severance Benefits”). In the event of a CIC Qualifying Termination, Mr. Young would generally be entitled to the Severance Benefits, as well as full vesting and acceleration of all unvested RSUs, stock options and other equity awards.
Under the Offer Letter, Mr. Young will also be provided with indemnification consistent with other arrangements with Company executive officers pursuant to an Indemnification Agreement, substantially in the form as filed as Exhibit 10.14 to the Annual Report, and he will be subject to the Company’s standard form of Confidential Information, Inventions, Non-Solicitation, and Non-Competition Agreement.
The foregoing summary of the terms and conditions of Mr. Young’s employment does not purport to be complete and is qualified in its entirety by reference to the full text of the Offer Letter, a copy of which is attached hereto as Exhibit 10.1 to this Current Report on Form 8-K (“Form 8-K”) and is incorporated herein by reference.
There is no arrangement or understanding between Mr. Young and any other person pursuant to which he was appointed as an officer of the Company; there is no family relationship between Mr. Young and any of the Company’s directors or other
executive officers; and Mr. Young is not a party to any transactions of the type that would require disclosure under Item 404 of Regulation S-K.
Agreements with Joseph Busky
As indicated above, Mr. Busky is expected to enter into a transition and retirement agreement to provide for the smooth and orderly transition of Mr. Busky’s duties as Chief Financial Officer. During such transition period, for the six months following the Effective Date, the Company will pay Mr. Busky at an annual base salary rate of $340,000. Thereafter, Mr. Busky has agreed to serve as a special advisor to the Company’s Chief Executive Officer for a period of up to twenty-four months, at an annual base salary rate of $100,000. Mr. Busky will be entitled to participate in and receive payments with respect to the Company’s 2026 annual cash bonus plan, but shall not be entitled to participate in or receive payments with respect to any annual cash bonus plans after calendar year 2026. Mr. Busky will remain eligible for employee benefits during his service as a special advisor, other than future annual bonus and equity grant opportunities. Mr. Busky’s equity awards will continue to remain outstanding and vest under the existing terms and conditions set forth in the governing plan documents and applicable equity agreements through the end of his service as a special advisor.
Item 7.01 Regulation FD Disclosure.
On June 23, 2026, the Company issued a press release announcing the appointment of Mr. Young as Chief Financial Officer. A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K.
The information in this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The following exhibits are filed or furnished with this Form 8-K:
| Exhibit Number | Description of Exhibit | |||||||||||||
| 10.1 | Employment Offer Letter, dated June 22, 2026, between QuidelOrtho Corporation and Micah Young. | |||||||||||||
| 99.1 | Press release issued by QuidelOrtho Corporation, dated June 23, 2026. | |||||||||||||
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL Document. | |||||||||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: June 23, 2026
| QUIDELORTHO CORPORATION | ||||||||
| By: | /s/ Nathaniel B. Sisitsky | |||||||
| Name: | Nathaniel B. Sisitsky | |||||||
| Its: | Chief Legal Officer and Corporate Secretary | |||||||
Exhibit 99.1
QuidelOrtho Appoints Micah Young as Chief Financial Officer
Seasoned medical technology finance executive brings more than two decades of leadership at global public companies
June 23, 2026
SAN DIEGO, CA — QuidelOrtho Corporation (Nasdaq: QDEL) (“QuidelOrtho” or the “Company”), a leading global provider of diagnostic solutions, today announced the appointment of Micah Young as Chief Financial Officer, effective July 6, 2026. Mr. Young will succeed Joseph M. Busky, who previously announced his retirement as Chief Financial Officer and will serve in an advisory role to support a smooth transition.
“Micah is an accomplished public-company CFO with deep medical technology expertise and a strong track record of improving financial performance, strengthening cash flow and driving disciplined execution,” said Brian J. Blaser, President and Chief Executive Officer of QuidelOrtho. “His leadership across business strategy, capital allocation, investor relations and financial operations will be valuable as we execute our priorities to improve profitability, enhance cash generation and create long-term shareholder value. We are excited to welcome Micah to the QuidelOrtho leadership team.”
Mr. Blaser added, “We thank Joe for his leadership and many contributions to QuidelOrtho. He has played an important role in strengthening our financial discipline and guiding the Company through a period of significant transformation. We appreciate his support of a seamless transition and wish him the very best.”
Mr. Young most recently served as Executive Vice President and Chief Financial Officer of Masimo Corporation, a global medical technology company. He joined Masimo as CFO in 2017 and helped lead the company through a period of strategic transformation, operational improvement, disciplined capital allocation, enhanced investor engagement and significant transaction activity. Previously, he held progressively senior finance roles at NuVasive, Inc. and finance and accounting roles at Zimmer Holdings, Inc., after beginning his career at Deloitte & Touche LLP. Mr. Young holds a Bachelor of Science in Accounting and Criminal Justice from Indiana Wesleyan University and is a Certified Public Accountant (inactive).
“I am honored to join QuidelOrtho at an important point in the Company’s evolution,” said Mr. Young. “QuidelOrtho has a strong global portfolio, a meaningful mission and clear opportunities to enhance execution and performance. I look forward to working with Brian, the Board and the
leadership team to strengthen operational discipline, support growth and create sustainable value for shareholders, customers and patients.”
QuidelOrtho is dedicated to advancing diagnostics to power a healthier future. For more information, please visit quidelortho.com and follow QuidelOrtho on LinkedIn, Facebook and X.
About QuidelOrtho Corporation
With expertise spanning clinical chemistry, immunoassay, immunohematology and molecular testing, QuidelOrtho Corporation (Nasdaq: QDEL) is a leading global provider of diagnostic solutions, dedicated to advancing fast, accurate and reliable results that help improve patient outcomes – from the point of care to hospital, lab to clinic. Building on a legacy of innovation, QuidelOrtho works with healthcare providers to advance diagnostics that connect insights with solutions, defining a clearer path for informed decisions and better care.
Investor Contact:
Juliet Cunningham
Vice President, Investor Relations
IR@QuidelOrtho.com
Media Contact:
Stephanie Kleewein
Senior Corporate Communications and PR Manager
media@QuidelOrtho.com
SOURCE QuidelOrtho Corporation
FAQ
What leadership change did QuidelOrtho (QDEL) announce in this 8-K?
QuidelOrtho announced Micah Young as its new Chief Financial Officer, effective July 6, 2026, succeeding retiring CFO Joseph M. Busky. Busky will stay through the transition and then serve as a special advisor, supporting continuity in the company’s financial leadership.
What is the compensation package for QuidelOrtho’s new CFO Micah Young?
Micah Young will receive $750,000 base salary and a target bonus of 100% of salary, plus a $500,000 cash sign-on bonus and $6,500,000 in inducement RSUs vesting over three years. He is also expected to receive 2027 equity grants valued at $5,000,000.
What severance protections does Micah Young have at QuidelOrtho (QDEL)?
Micah Young’s severance terms mirror other QuidelOrtho executives. For a qualifying termination, he generally receives two times his salary and bonus, continued benefits for up to two years, $25,000 for professional and transition costs, and, after a change in control, accelerated vesting of equity awards.
How will outgoing CFO Joseph Busky be compensated during QuidelOrtho’s transition?
Joseph Busky will receive $340,000 annually for six months after the new CFO’s start, then $100,000 annually for up to 24 months as special advisor. He remains eligible for the 2026 bonus, with existing equity awards continuing to vest under current terms while he serves.
How is QuidelOrtho using Nasdaq Listing Rule 5636(c)(4) for the new CFO’s equity grant?
QuidelOrtho will grant Micah Young a one-time inducement RSU award valued at $6,500,000 under and in reliance on Nasdaq Listing Rule 5636(c)(4). These RSUs vest in equal annual installments over three years, supporting his long-term alignment with shareholders.
What is Micah Young’s professional background before joining QuidelOrtho (QDEL)?
Micah Young most recently served as Executive Vice President and CFO of Masimo Corporation, and previously held senior finance roles at NuVasive and Zimmer Holdings, after starting his career at Deloitte & Touche. He holds a B.S. in Accounting and Criminal Justice and is a CPA (inactive).