8-KLeadership ChangesExhibits & Filings

GILEAD SCIENCES, INC. 8-K Report, Executive Changes (Apr 22, 2008)

Filed April 22, 2008For Securities:GILD

Summary

Gilead Sciences, Inc. (GILD) filed an 8-K on April 22, 2008, to announce a significant change in its executive leadership. The report details the appointment of Robin L. Washington as the new Senior Vice President and Chief Financial Officer (CFO), effective May 5, 2008. This appointment marks a transition from Dr. John F. Milligan, who had been serving as interim CFO while continuing his role as Chief Operating Officer. Ms. Washington brings a wealth of financial experience from her previous roles, including CFO at Hyperion Solutions and Senior Vice President and Corporate Controller at PeopleSoft. Her compensation package includes a substantial base salary, bonus potential, a signing bonus, stock options, and restricted stock units, reflecting her importance to the company's strategic financial operations. Investors should note this transition as it signals a new phase in Gilead's financial leadership.

Key Highlights

  • 1Robin L. Washington appointed as Senior Vice President and Chief Financial Officer (CFO), effective May 5, 2008.
  • 2Dr. John F. Milligan transitions from interim CFO role back to Chief Operating Officer.
  • 3Ms. Washington's background includes CFO at Hyperion Solutions and senior finance roles at PeopleSoft.
  • 4New CFO's compensation includes a $500,000 annual base salary.
  • 5Eligible for a target bonus of 45% of base salary for the 2008 fiscal year.
  • 6Receives a $125,000 signing bonus.
  • 7Granted stock options for 100,000 shares and 15,000 restricted stock units, with vesting schedules tied to continued employment and performance objectives.

Frequently Asked Questions

Robin L. Washington has been appointed as the new Senior Vice President and Chief Financial Officer (CFO) of Gilead Sciences, Inc. Her appointment is effective May 5, 2008.

Ms. Washington has extensive financial experience, most recently serving as the Chief Financial Officer of Hyperion Solutions. Prior to that, she spent nearly a decade at PeopleSoft, holding positions such as Senior Vice President and Corporate Controller. Her resume also includes experience at Tandem Computers and the Federal Reserve Bank of Chicago, as well as a background in public accounting with Deloitte & Touche.

Ms. Washington will receive an annual base salary of $500,000. She is eligible for a target bonus of 45% of her base salary for the 2008 fiscal year, a signing bonus of $125,000, options to purchase 100,000 shares of common stock, and 15,000 restricted stock units. The stock options and restricted stock units have specific vesting schedules.

Dr. John F. Milligan, the Company's Chief Operating Officer, had been serving as the interim Chief Financial Officer. He will continue in his role as Chief Operating Officer.