Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
(d) Election of Directors.
On August 3, 2022, the Board of Directors (the "Board") of Amgen Inc. (the
"Company") appointed Michael V. Drake as a director of the Company, effective
immediately. Dr. Drake is the President of the University of California, having
served in this position since August 2020. Prior to this, Dr. Drake was
President of The Ohio State University from 2014 to June 2020. From 2005 to
2014, Dr. Drake was Chancellor of the University of California, Irvine and also
a Distinguished Professor of Ophthalmology (School of Medicine) and Education
(School of Education).
Dr. Drake will serve as a member of the Board's Corporate Responsibility and
Compliance Committee and its Governance and Nominating Committee. Following the
appointment of Dr. Drake, the Board will be composed of 13 directors, 12 of whom
are independent.
There are no transactions between Dr. Drake (or any member of his immediate
family) and the Company (or any of its subsidiaries) and there is no arrangement
or understanding between Dr. Drake and any other persons or entities pursuant to
which Dr. Drake was appointed as a director of the Company.
Upon the effective date of his appointment to the Board, Dr. Drake will be
entitled to our standard director compensation, and, thus, will receive
a pro-rated portion of the (i) annual retainer of $105,000 and (ii) committee
member meeting retainers of $12,500 through December 31, 2022. Under our
director equity program, non-employee directors receive an annual grant of fully
vested restricted stock units with a grant date fair value of $210,000 (rounded
down to the nearest whole number of shares of stock), measured by the closing
market price of a share of Common Stock on the date of grant (the date of the
annual meeting of stockholders). Accordingly, Dr. Drake will receive
a pro-rated portion (9/12) of the annual grant of fully vested restricted stock
units on the date that is two business days after the release of the Company's
2022 second quarter earnings. In accordance with the Company's policy, Dr. Drake
will also be entitled to reimbursement of his expenses incurred in connection
with attendance at Board and committee meetings and conferences with our senior
management.
A copy of the press release announcing Dr. Drake's appointment is attached as
Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number Document Description
99.1 Press release dated August 3, 2022.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
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