October 24, 2007
Gilead Sciences' Board Member Establishes Rule 10b5-1 Stock Trading Plan
FOSTER CITY, Calif.--(BUSINESS WIRE)--Oct. 24, 2007--Gilead Sciences, Inc. (Nasdaq:GILD) today announced the establishment of a stock trading plan under Rule 10b5-1 of the Securities Exchange Act of 1934 on October 23, 2007 by Paul Berg, PhD, a member of Gilead's Board of Directors.
Commencing in February 2008, Dr. Berg's plan provides for the exercise and sale of up to 13,450 vested stock options per calendar month through November 2008. Dr. Berg's existing Rule 10b5-1 trading plan is scheduled to expire in February 2008.
The transactions under the plan are disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission. James M. Denny, Gilead's non-executive Chairman of the Board, John C. Martin, PhD, President and Chief Executive Officer and a member of Gilead's Board of Directors, John F. Milligan, PhD, Chief Operating Officer and Chief Financial Officer, Kevin Young, Executive Vice President, Commercial Operations, and Gregg H. Alton, Senior Vice President and General Counsel, also maintain stock trading plans under Rule 10b5-1, and other officers and directors of the company may do so in the future.
Rule 10b5-1 allows insiders to adopt written plans for trading securities in a non-discretionary, pre-scheduled manner in order to avoid concerns about initiating stock transactions when the insider may be aware of non-public information. Such plans also allow insiders to diversify their holdings and to minimize the market effect of stock sales by spreading them out over time.
Gilead Sciences is a biopharmaceutical company that discovers, develops and commercializes innovative therapeutics in areas of unmet medical need. The company's mission is to advance the care of patients suffering from life-threatening diseases worldwide. Headquartered in Foster City, California, Gilead has operations in North America, Europe and Australia.
For more information on Gilead Sciences, please visit www.gilead.com or call the Gilead Public Affairs Department at 1-800-GILEAD-5 (1-800-445-3235).
CONTACT: Gilead Sciences, Inc.
Susan Hubbard, 650-522-5715 (Investors)
Amy Flood, 650-522-5643 (Media)
SOURCE: Gilead Sciences, Inc.