Gilead Sciences (GILD) CEO/Chairman Establishes Rule 10b5-1 Stock Trading Plan
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Gilead Sciences, Inc. (Nasdaq: GILD) today announced the establishment of a new stock trading plan under Rule 10b5-1 of the Securities Exchange Act of 1934 on May 22, 2008 by John C. Martin, PhD, Chairman and CEO of Gilead.
Rule 10b5-1 allows insiders to adopt written plans for trading securities in a non-discretionary, pre-scheduled manner in order to avoid concerns about initiating stock transactions when the insider may be aware of non-public information. Such plans also allow insiders to diversify their holdings and to minimize the market effect of stock sales by spreading them out over time.
Gilead Sciences, Inc., a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for the treatment of life-threatening infectious diseases.
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