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 August 30, 2006 by John C. Martin,
PhD, President and Chief Executive Officer of Gilead Sciences and a
member of Gilead's Board of Directors.
Commencing on September 12, 2006, Dr. Martin's plan provides for
the exercise and sale of up to 35,000 stock options each month on
pre-determined dates through August 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 and Paul Berg, PhD, members of Gilead's
Board of Directors, George P. Shultz, PhD, Director Emeritus to
Gilead's Board of Directors, 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.
About Gilead
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).
