Santos Esteban 4

4 · AMGEN INC · Filed Mar 2, 2026

AI-generated summary of this filing

Updated Mar 3, 2026

Amgen (AMGN) EVP Santos Esteban Exercises Options, Sells Shares

What Happened

Santos Esteban, Executive Vice President, Operations at Amgen, exercised options to acquire 54,792 shares (30,501 + 24,291) on Feb 26, 2026 and sold those shares the same day.
Exercise details: 30,501 shares exercised at $162.60 (cost $4,959,463) and 24,291 shares exercised at $177.46 (cost $4,310,681) — total exercise cost $9,270,144.
Sale details: 30,501 shares sold for $11,563,457 and 24,291 shares sold for $9,209,138, for total gross proceeds of $20,772,595 (average sale price ≈ $379.12/share per filing). Net proceeds (sales minus exercise costs) ≈ $11.50M.
This is effectively a cashless exercise / immediate sale (sell-to-cover), a common insider action to exercise options and monetize them rather than a buy signal.

Key Details

Transaction date: Feb 26, 2026; Form 4 filed Mar 2, 2026 (filed within the typical 2-business-day window).
Exercise prices: $162.60 and $177.46; reported average sale price: $379.1173/share (footnote F2).
Shares acquired via exercise: 54,792; shares sold: 54,792. Some derivative lines show $0.00 disposals—these reflect surrendered option shares in connection with the exercise (see footnote F1).
Notable footnotes from the filing:
- F1: Includes shares sold to cover the option exercise price and required withholding taxes (sell-to-cover).
- F2: Average sale price of $379.1173 per share; detailed price breakdown available on request.
- F3: Indicates dividend equivalents (624 DEs) are included in reported RSU-related amounts where applicable.
- F4: Refers to shares or interests under the company 401(k) plan included elsewhere in the filing.
Shares owned after the transaction: not specified in the provided excerpt of the filing.

Context

For retail investors: this looks like a routine cashless exercise and immediate sale by an executive to cover exercise costs and taxes and to take proceeds — common practice and not necessarily a signal about company fundamentals.
The filing is timely. No indication in the provided data that Santos is a 10% owner; this is executive-level trading reported on Form 4.

Form 4

Period: 2026-02-26

EVP, Operations

Transactions

Exercise/Conversion
Common Stock
2026-02-26$162.60/sh+30,501$4,959,463→ 107,119 total
Sale
Common Stock
[F1][F2]
2026-02-26$379.12/sh−30,501$11,563,457→ 76,618 total
Exercise/Conversion
Common Stock
2026-02-26$177.46/sh+24,291$4,310,681→ 100,909 total
Sale
Common Stock
[F1][F2][F3]
2026-02-26$379.12/sh−24,291$9,209,138→ 76,618 total
Exercise/Conversion
Nqso (Right to Buy)
2026-02-26−30,501→ 0 total
Exercise: $162.60From: 2019-05-01Exp: 2027-05-01→ Common Stock (30,501 underlying)
Exercise/Conversion
Nqso (Right to Buy)
2026-02-26−24,291→ 0 total
Exercise: $177.46From: 2020-04-27Exp: 2028-04-27→ Common Stock (24,291 underlying)

Holdings

Footnotes (4)

[F1]Includes shares sold to cover the option exercise price and required withholding taxes in connection with the exercise of expiring options.
[F2]The price reported is an average price of $379.1173 per share. Full information regarding the number of shares purchased at each separate price within the range is available upon request by the SEC staff, the issuer or a security holder of the issuer
[F3]These shares include 624 Dividend Equivalents (DEs) granted pursuant to the Amgen Inc. Second Amended and Restated 2009 Equity Incentive Plan and subject to a qualifying dividend reinvestment plan. DEs are credited to the reporting person's unvested RSUs and are paid out in shares of the Company's common stock on a one-to-one basis according to the vesting schedule, along with a cash payment for any remaining fractional share amount.
[F4]These shares are acquired under the Company's 401(k) Plan and represent interests in the Company's stock fund as of this filing.

Signature

/s/ Esteban Santos|2026-02-27

1 file