Form 8-K

 

 

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): May 11, 2016

 

 

GILEAD SCIENCES, INC.

(Exact name of registrant as specified in its charter)

 

 

 

DELAWARE   0-19731   94-3047598

(State or other jurisdiction of

incorporation or organization)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

333 LAKESIDE DRIVE,

FOSTER CITY, CALIFORNIA

(Address of principal executive offices)

94404

(Zip Code)

(650) 574-3000

(Registrant’s 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:

 

  ¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFD 230.425)

 

  ¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

  ¨ Pre-commencement communications pursuant to Rule 14-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

  ¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


SECTION 5 – CORPORATE GOVERNANCE AND MANAGEMENT

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Approval of the Amended and Restated Code Section 162(m) Bonus Plan

On January 28, 2016 and March 22, 2016, the Compensation Committee (the Committee) of the Board of Directors (the Board) of Gilead Sciences, Inc. (Gilead) approved the Amended and Restated Gilead Sciences, Inc. Code Section 162(m) Bonus Plan (the Restated 162(m) Bonus Plan), subject to stockholder approval. A summary of the principal features of the Restated 162(m) Bonus Plan is set forth under Proposal 3 of Gilead’s definitive proxy statement filed with the Securities and Exchange Commission on March 28, 2016 (the 2016 Proxy Statement), which description is incorporated herein by reference.

The Restated 162(m) Bonus Plan, including the material terms of the performance goals thereunder, was approved by Gilead’s stockholders at the 2016 Annual Meeting of Stockholders on May 11, 2016 (the Annual Meeting). The foregoing summary of the Restated 162(m) Bonus Plan does not purport to be complete and is qualified in its entirety by reference to the provisions of the Restated 162(m) Bonus Plan itself, which is attached to this Current Report on Form 8-K as Exhibit 10.1 and is incorporated by reference herein.

 

Item 5.07 Submission of Matters to a Vote of Security Holders.

The Annual Meeting was held on May 11, 2016 in Millbrae, California. Of the 1,354,641,822 shares of Gilead’s common stock entitled to vote at the meeting, 1,160,514,228 shares were represented at the meeting in person or by proxy, constituting a quorum. The voting results are presented below.

Gilead’s stockholders elected nine directors to serve for the ensuing year and until their successors are elected and qualified, or until their earlier death, resignation or removal. The votes regarding the election of directors were as follows:

 

Name

   Votes For      Votes
Against
     Abstentions      Broker Non-
Votes
 

John F. Cogan, Ph.D.

     981,477,955         6,945,823         954,752         171,135,698   

Kevin E. Lofton

     977,388,031         11,076,629         913,870         171,135,698   

John W. Madigan

     975,031,032         13,326,232         1,021,266         171,135,698   

John C. Martin, Ph.D.

     978,148,956         10,352,285         877,289         171,135,698   

John F. Milligan, Ph.D.

     984,159,603         4,336,823         882,104         171,135,698   

Nicholas G. Moore

     968,615,617         19,840,834         922,079         171,135,698   

Richard J. Whitley, M.D.

     977,838,055         10,629,560         910,915         171,135,698   

Gayle E. Wilson

     967,831,325         20,494,516         1,052,689         171,135,698   

Per Wold-Olsen

     979,300,869         9,136,914         940,747         171,135,698   

Gilead’s stockholders ratified the selection of Ernst & Young LLP by the Audit Committee of the Board as its independent registered public accounting firm for the fiscal year ending December 31, 2016. The proposal received the following votes:

 

Votes For

     1,126,366,125   

Votes Against

     32,657,095   

Abstentions

     1,491,008   

Gilead’s stockholders approved the Amended and Restated Gilead Sciences, Inc. Code Section 162(m) Bonus Plan. The proposal received the following votes:

 

Votes For

     965,885,337   

Votes Against

     21,625,551   

Abstentions

     1,867,642   

Broker Non-Votes

     171,135,698   


Gilead’s stockholders approved, on an advisory basis, the compensation of Gilead’s named executive officers as presented in the 2016 Proxy Statement. The proposal received the following votes:

 

Votes For

     944,211,570   

Votes Against

     42,141,953   

Abstentions

     3,025,007   

Broker Non-Votes

     171,135,698   

Gilead’s stockholders did not approve a stockholder proposal requesting that the Board take steps to permit stockholder action by written consent. The proposal received the following votes:

 

Votes For

     460,046,551   

Votes Against

     524,959,079   

Abstentions

     4,372,900   

Broker Non-Votes

     171,135,698   

SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS

 

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

 

Exhibit
Number

  

Description

10.1    Amended and Restated Gilead Sciences, Inc. Code Section 162(m) Bonus Plan


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.

 

GILEAD SCIENCES, INC.

(Registrant)

/s/    Robin L. Washington        
Robin L. Washington
Executive Vice President and Chief Financial Officer

Date: May 17, 2016