Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 23, 2020, the Board of Directors of Amgen Inc. (the “Company”) appointed Linda H. Louie, age 48, to serve as the Company’s Vice President, Finance and Chief Accounting Officer (“CAO”), effective immediately. Ms. Louie will be the Company’s principal accounting officer; she will not be an executive officer of the Company.
Ms. Louie previously served as the Company’s Executive Director, Accounting since June 2015 and was a Director of Finance at the Company from April 2011 to June 2015. From June 2000 until April 2011, Ms. Louie progressed through various positions of increasing responsibility at the Company. She is a Certified Public Accountant and received her Master of Business Administration from the Fuqua School of Business at Duke University.
In connection with the appointment of Ms. Louie as CAO, the Compensation and Management Development Committee of the Board approved Ms. Louie’s compensation in this role, including: (i) annual base salary of $425,000; (ii) an annual bonus target stated as a percentage of base salary of 40%; and (iii) an award of restricted stock units with a grant date value of $320,000, pursuant to the Company’s standard terms and conditions and subject to Ms. Louie’s continued employment with the Company, bringing her total 2020 equity grant value to $520,000. Ms. Louie does not have an employment agreement with the Company.
Additional Information
There are no family relationships between Ms. Louie and any other director or executive officer of the Company, or with any person selected to become an officer or a director of the Company.
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