O'Day Daniel Patrick 4

What Happened

• Daniel P. O'Day, Chairman & CEO of Gilead Sciences, exercised 115,640 stock options (code M) with an exercise price of $66.01 per share (total cost $7,633,396) and immediately sold the 115,640 shares in an open-market transaction (code S) at $135.00 per share for total gross proceeds of $15,611,400 on January 23, 2026.
• The combination of the exercise and sale effectively converted options into shares and disposed of those shares; net cash proceeds (sale proceeds minus exercise cost) were about $7,978,004.

Key Details

• Transaction date: 2026-01-23. Sale price: $135.00; exercise price: $66.01.
• Shares involved: 115,640 exercised and 115,640 sold.
• Shares owned after transaction: Not specified in the filed Form 4.
• Footnotes: Transaction made pursuant to a Rule 10b5-1 trading plan adopted Feb 28, 2025 (F1). The underlying options have a four‑year vesting schedule—25% after one year, then 6.25% quarterly thereafter (F2).
• Filing timeliness: Form filed 2026-01-26 for a 2026-01-23 transaction; the filing appears timely (within required business-day window).

Context

• This was an exercise of options followed by an immediate open‑market sale of the resulting shares (a common cashless exercise pattern). Because the sale was executed under a pre-established 10b5‑1 plan, it is generally treated as planned/routine trading rather than an ad hoc insider sale.