Stock and option awards pushed Amgen Inc. Chairman and CEO Kevin Sharer's compensation up nearly 38 percent to $21.1 million in 2010.
Sharer, 62, has served as CEO of the Thousand Oaks-based biotech giant since May 2000. His base salary rose nearly 4 percent to about $1.75 million and his bonus of $3.6 million was about the same as the previous year, but his stock and option awards grew 65 percent to nearly $15 million last year, according to SEC filings.
His compensation includes perks such as $126,478 for the personal use of a company aircraft, $43,740 for personal use of a company car and driver, $15,000 for personal financial planning services, and $17,939 for expenses related to guests accompanying him on business travel.
Sharer's total compensation in 2009 was $15.3 million.
Amgen's 2010 revenue rose 2.8 percent over the prior year and its net income changed little at $4.6 billion. In 2010, the company's stock price fell 4.9 percent, based on the adjusted stock price at the start and end of the year. Amgen's stock fell 6 cents to $53.97 Thursday.
Last year, Amgen launched two potential blockbuster drugs: Prolia, for the treatment of post-menopausal women with osteoporosis; and Xgeva, for treating cancer patients. Both contain the same active ingredient (denosumab) but are approved for different indications.
Xgeva sales for 2010 were $8 million and Prolia's were $33 million. Amgen's total product sales were $14.66 billion in 2010, up 2 percent from 2009.
SEC filings showed that several other top executives also saw notable increases in their total compensation in 2010: Robert Bradway, former chief financial officer who now is President and Chief Operating Officer, up 51 percent to $7.8 million; Fabrizio Bonanni, executive vice president of Operations, up 66.8 percent to $8.2 million; George Morrow, executive vice president of Global Commercial Operations, up 14 percent to $6.5 million; and Roger Perlmutter, executive vice president of Research and Development, up 18 percent to $6.3 million.
Two other top executives had compensation listed for only 2010: Jonathan Peacock, executive vice president and chief financial officer, $10.95 million; and Michael Kelly, former acting chief financial officer who now is vice president of International Finance, $3.8 million.
Amgen's Compensation Committee met nine times in 2010, according to the company's SEC filings.
Committee members include: Jerry D. Choate, once the CEO of The Allstate Corp.; Frank C. Herringer, once the CEO of Transamerica; Leonard D. Schaeffer, once the CEO of WellPoint Health Networks; Ronald D. Sugar, once the CEO of Northrop Grumman Corp.; and Frederick W. Gluck, who founded Cytomx LLC, a biotechnology therapeutic company.
Sharer, 62, has served as CEO of the Thousand Oaks-based biotech giant since May 2000. His base salary rose nearly 4 percent to about $1.75 million and his bonus of $3.6 million was about the same as the previous year, but his stock and option awards grew 65 percent to nearly $15 million last year, according to SEC filings.
His compensation includes perks such as $126,478 for the personal use of a company aircraft, $43,740 for personal use of a company car and driver, $15,000 for personal financial planning services, and $17,939 for expenses related to guests accompanying him on business travel.
Sharer's total compensation in 2009 was $15.3 million.
Amgen's 2010 revenue rose 2.8 percent over the prior year and its net income changed little at $4.6 billion. In 2010, the company's stock price fell 4.9 percent, based on the adjusted stock price at the start and end of the year. Amgen's stock fell 6 cents to $53.97 Thursday.
Last year, Amgen launched two potential blockbuster drugs: Prolia, for the treatment of post-menopausal women with osteoporosis; and Xgeva, for treating cancer patients. Both contain the same active ingredient (denosumab) but are approved for different indications.
Xgeva sales for 2010 were $8 million and Prolia's were $33 million. Amgen's total product sales were $14.66 billion in 2010, up 2 percent from 2009.
SEC filings showed that several other top executives also saw notable increases in their total compensation in 2010: Robert Bradway, former chief financial officer who now is President and Chief Operating Officer, up 51 percent to $7.8 million; Fabrizio Bonanni, executive vice president of Operations, up 66.8 percent to $8.2 million; George Morrow, executive vice president of Global Commercial Operations, up 14 percent to $6.5 million; and Roger Perlmutter, executive vice president of Research and Development, up 18 percent to $6.3 million.
Two other top executives had compensation listed for only 2010: Jonathan Peacock, executive vice president and chief financial officer, $10.95 million; and Michael Kelly, former acting chief financial officer who now is vice president of International Finance, $3.8 million.
Amgen's Compensation Committee met nine times in 2010, according to the company's SEC filings.
Committee members include: Jerry D. Choate, once the CEO of The Allstate Corp.; Frank C. Herringer, once the CEO of Transamerica; Leonard D. Schaeffer, once the CEO of WellPoint Health Networks; Ronald D. Sugar, once the CEO of Northrop Grumman Corp.; and Frederick W. Gluck, who founded Cytomx LLC, a biotechnology therapeutic company.