Form 4: Amgen VP Finance Schedules Future Share Sale for Tax

Amgen's VP of Finance and CAO, Matthew C. Busch, reported a pre-scheduled disposition of 202 common shares for tax liabilities at $296.7 per share, effective November 5, 2025, under a Rule 10b5-1 plan.

Summary

• Matthew C. Busch, VP, Finance & CAO of Amgen Inc., has filed a Form 4 disclosing a future transaction.
• On November 5, 2025, 202 shares of Amgen Common Stock are scheduled to be disposed of.
• This disposition is coded 'F', indicating it is for covering tax liability incident to the vesting of a restricted stock award or the exercise of a stock option.
• The price per share for this future disposition is $296.7.
• Following this transaction, Matthew C. Busch is expected to beneficially own 4,414 shares directly.
• The reported beneficial ownership includes 51 Dividend Equivalents (DEs) from the 2009 Equity Incentive Plan, which are credited on unvested Restricted Stock Units (RSUs) and paid out in shares upon vesting.
• The transaction is indicated to be made pursuant to a Rule 10b5-1(c) plan, signifying it is a pre-planned event.

Sentiment

Score: 5

Explanation: This is a routine, tax-related insider transaction that is pre-scheduled under a 10b5-1 plan. It does not indicate a significant positive or negative sentiment regarding the company's performance or outlook, thus maintaining a neutral score.

Positives

• Continued significant insider ownership by a key executive, with 4,414 shares beneficially owned after the scheduled transaction.
• The transaction is pre-planned under a Rule 10b5-1 plan, indicating a structured approach to equity management and not a reaction to new material non-public information.

Negatives

• A scheduled reduction in direct share ownership by a key executive, albeit for tax purposes.

Risks

• NA

Future Outlook

NA

Industry Context

This is a routine insider transaction for tax purposes and does not provide specific insights into broader industry trends or the competitive landscape. Such transactions are common for executives receiving equity compensation in the biotechnology and pharmaceutical sectors.

Corporate Governance

Legal Proceedings

• NA

Related Party Transactions

• Scheduled disposition of 202 common shares to Amgen Inc. to satisfy tax withholding obligations related to equity compensation.
• Inclusion of 51 Dividend Equivalents (DEs) from the Amgen Inc. Second Amended and Restated 2009 Equity Incentive Plan, credited on unvested RSUs.

Stakeholder Impact

• Shareholders: Minor reduction in direct insider ownership, but the transaction is routine and tax-related, unlikely to signal a change in management's confidence or have a material impact on share price.

Next Steps

• NA

Key Dates

Recommendation

This Form 4 reports a routine, pre-scheduled, tax-related disposition of a relatively small number of shares by a company executive. Such transactions are common for equity compensation and do not typically signal a change in the company's fundamental outlook or the executive's confidence. Therefore, it provides no new information that would warrant a change in investment recommendation; a 'hold' stance is appropriate based solely on this filing.

Keywords

Amgen, AMGN, insider transaction, Form 4, beneficial ownership, stock disposition, executive compensation, tax liability, Rule 10b5-1 plan, Matthew C. Busch