Amgen SVP Rachna Khosla Sells Shares, Exercises Options

What Happened

• Rachna Khosla, Senior Vice President, Business Development at Amgen (AMGN), exercised stock options and sold shares. On 2026-08-11 she sold 2,000 shares in an open-market sale for $412.57 each (proceeds $825,134). On 2026-08-13 she exercised 1,252 options at $162.60 (cost $203,575) and those 1,252 shares were sold the same day at $416.43 each (proceeds $521,365). The combined open-market sales totaled $1,346,499; after deducting the option exercise cost the approximate net cash effect is $1,142,924. Footnotes indicate some shares were sold to cover the exercise price and required withholding taxes (cashless exercise).

Key Details

• Transaction dates and prices:
  • 2026-08-11: Sold 2,000 shares @ $412.57 = $825,134
  • 2026-08-13: Exercised 1,252 shares @ $162.60 = $203,575 (acquired)
  • 2026-08-13: Sold 1,252 shares @ $416.43 = $521,365
  • Also reported: a derivative disposition of 1,252 shares @ $0.00 related to the exercise
• Net effect: 3,252 shares disposed (2,000 previously held + 1,252 exercised-and-sold); net cash after exercise cost ≈ $1,142,924.
• Shares owned after the transactions: not specified in the provided excerpt of the filing.
• Footnotes: F1 — shares sold to cover option exercise price and withholding taxes (cashless exercise). F2 — filing notes 69 Dividend Equivalents credited to unvested RSUs.
• Filing: Report filed 2026-08-13 for transactions on 2026-08-11 and 2026-08-13; filing appears timely (within standard Form 4 reporting window).

Context

• This is a common pattern where an insider exercises options and immediately sells enough shares to cover the exercise cost and withholding taxes (a cashless exercise). Such transactions are routine and reflect option exercise mechanics rather than an explicit bullish or bearish signal by themselves.
• For retail investors, purchases (or retained shares) can be more informative about insider conviction; this filing mainly documents sales and a cashless exercise.