- Current report filing (8-K)
November 10 2009 - 6:04AM
Edgar (US Regulatory)
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):
November 4, 2009
GILEAD SCIENCES, INC.
(Exact name of
registrant as specified in its charter)
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DELAWARE
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0-19731
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94-3047598
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(State or other jurisdiction of
incorporation or organization)
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(Commission File Number)
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(I.R.S. Employer
Identification No.)
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333 LAKESIDE DRIVE, FOSTER CITY, CALIFORNIA
(Address of principal executive offices)
94404
(Zip Code)
(650) 574-3000
(Registrants telephone number, including area code)
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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFD 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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SECTION 5 CORPORATE GOVERNANCE AND MANAGEMENT
Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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Compensation Arrangement of Certain Officers
On November 4, 2009, the Compensation Committee of the Board of Directors of Gilead Sciences, Inc. (the Company) approved the target
bonus levels to be in effect under the Companys Corporate Bonus Plan for the 2010 fiscal year for the Companys current named executive officers (the Executive Officers). The target bonus levels for the 2009 and 2010 fiscal years are
summarized below:
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Executive Officer
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2009 Target Bonus
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2010 Target Bonus
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(as a % of Base Salary)
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(as a % of Base Salary)
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John C. Martin
Chairman and Chief Executive Officer
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125
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%
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130
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%
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John F. Milligan
President and Chief Operating Officer
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75
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%
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90
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%
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Norbert W. Bischofberger
Executive Vice President, Research and Development and Chief Scientific
Officer
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60
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%
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70
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%
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Kevin Young
Executive Vice President, Commercial Operations
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60
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%
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70
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%
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Gregg H. Alton
Executive Vice President, Corporate and Medical Affairs
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60
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%*
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70
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%
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Robin L. Washington
Senior Vice President and Chief Financial Officer
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55
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%
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60
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%
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*
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In July 2009, in connection with Mr. Altons appointment to serve as the Companys Executive Vice President, Corporate and Medical Affairs, the 2009
target bonus payable to him was increased from 55% of base salary to 60% of base salary. The amount of his 2009 target bonus will be prorated to reflect when he was promoted and moved to the higher target bonus.
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The Companys Board of Directors ratified the target bonus level of Dr. Martin. No other terms have yet been established under the
2010 Corporate Bonus Plan for the Executive Officers.
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.
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GILEAD SCIENCES, INC.
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(Registrant)
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/s/ R
OBIN
L.
W
ASHINGTON
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Robin L. Washington
Senior Vice President and Chief Financial Officer
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Date: November 10, 2009
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