Amgen Inc. filed a current report on Form 8-K on October 26, 2026, disclosing the appointment of David W. Gibbs as a member of its Board of Directors, effective immediately on that date.

Key Highlights

  • New director appointed: David W. Gibbs joined the Amgen Board of Directors effective October 26, 2026.
  • Board composition: Following the appointment, the Board is composed of 13 directors, 12 of whom are independent, according to the filing.
  • Committee assignments: Mr. Gibbs will serve on the Board's Audit Committee and its Compensation and Management Development Committee.
  • Annual cash retainer: Mr. Gibbs will receive a pro-rated portion of the standard non-employee director annual cash retainer of $115,000 and committee member meeting retainers of $12,500, each through December 31, 2026.
  • Equity grant: Mr. Gibbs will receive a pro-rated portion (7/12) of the annual grant of fully vested restricted stock units with a grant date fair value of $220,000, to be issued two business days after the release of the company's 2026 third quarter earnings.
  • Prior executive role: Mr. Gibbs served as Chief Executive Officer of Yum! Brands, Inc. from 2020 to September 2025, according to the filing.

David W. Gibbs Joins Amgen Board: Background and Compensation Terms

Amgen Inc. (NASDAQ:AMGN) disclosed in an 8-K filed October 26, 2026, that its Board of Directors appointed David W. Gibbs as a director effective that same day. The filing states there is no arrangement or understanding between Mr. Gibbs and any other persons or entities pursuant to which he was appointed, and no reportable transactions exist between Mr. Gibbs or his immediate family and the company or its subsidiaries under Item 404(a) of Regulation S-K.

According to the filing, Mr. Gibbs held a series of senior roles at Yum! Brands, Inc. over more than a decade. These included Chief Executive Officer from 2020 to September 2025, President and Chief Operating Officer from August 2019 to December 2019, President, Chief Operating Officer and Chief Financial Officer from January 2019 to August 2019, and President and Chief Financial Officer from 2016 to 2018. Earlier positions included Chief Executive Officer of the Pizza Hut Division from 2015 to 2016 and President of Pizza Hut U.S. in 2014. Since October 2025, he has served as an advisor to Yum! Brands. The filing also notes he has served as a director of Under Armour, Inc. since 2021 and as Chair of its Human Capital and Compensation Committee, and as a director of PepsiCo, Inc. since 2026 and as a member of its Audit Committee.

Under the company's director equity incentive program, as described in the filing, non-employee directors receive an annual grant of fully vested restricted stock units with a grant date fair value of $220,000, rounded down to the nearest whole number of shares, measured by the closing market price on the date of the annual meeting of stockholders. Mr. Gibbs will receive a 7/12 pro-rated portion of this grant on the date that is two business days after the release of the company's 2026 third quarter earnings. The filing also states he is entitled to reimbursement of expenses for Board and committee meetings and conferences with senior management.

What Was Disclosed

Amgen disclosed the election of David W. Gibbs to its Board of Directors on October 26, 2026, including his committee assignments, prior professional background, and the specific cash retainer and equity grant terms applicable to his directorship.