Amgen CEO Gets $6.6 Million in 2005

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Kevin Sharer, chairman and chief executive of Amgen Inc., received total compensation valued at $6.6 million in 2005, according to a regulatory filing the biotech giant made Wednesday.


In addition, Sharer realized about $27.9 million from the exercise of stock options to purchase 1,298,821 shares. Value realized is the market value of the stock on the dates of exercise minus the applicable exercise price. The company didn’t say whether the shares were immediately sold.


In an earlier filing, the company said its board approved a $4.5 million bonus award for Sharer, based on the Thousand Oaks-based company’s 2005 performance. In January, Amgen reported earnings per share of $2.93 for 2005, up 62 percent from its 2004 earnings of $1.81 a share.


The total $6.6 million compensation also includes a salary of $1.39 million, up slightly from his previous year’s salary of $1.3 million. In addition, Sharer received “other annual compensation” of $237,179 and “all other compensation” of $494,739.


The next-highest bonus for 2005 performance went to George Morrow, executive vice president of global commercial operations, who got a $1.6 million bonus. Roger Perlmutter, executive vice president of research and development, received $1.3 million, while Richard Nanula, executive vice president and chief financial officer, and Dennis Fenton, executive vice president of operations, each received $1.2 million bonuses.


The company announced it would hold its annual stockholders meeting on May 10 at the Fairmont Miramar Hotel in Santa Monica.

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