Gilead Sciences 8-K 2008
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Gilead Sciences, Inc.
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Item 1.01 Entry into a Material Definitive Agreement.
On February 29, 2008, Gilead Sciences, Inc. (the Company) entered into an accelerated share repurchase agreement (the ASR Agreement) with Goldman Sachs & Co. (Goldman Sachs) to repurchase up to $500 million of the Company’s common stock on an accelerated basis. This accelerated share repurchase program (the ASR Transaction) is part of a $3 billion share repurchase program authorized by the Company’s board of directors that was previously announced on October 22, 2007.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The disclosures set forth in Item 1.01 above are hereby incorporated by reference into this Item 2.03.
Item 9.01 Financial Statements and Exhibits.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.