Amgen Chairman Gordon Binder has filed papers to sell about $13 million in shares as record earnings and a legal victory pushed the Thousand Oaks-based biotechnology company's stock to a record high.
Binder said in a disclosure statement filed with the Securities and Exchange Commission that he intends to sell 100,000 shares of Amgen, according to the Washington Service, which tracks insider trading.
The value of the options Binder and all other Amgen employees receive as part of their compensation has soared over the past year as Amgen shares climbed 140%, compared with the 22% gain in the Standard & Poor's 500 Index.
Binder frequently sells shares, which he receives as part of his compensation. In December, he filed to sell another 100,000 shares, according to the Washington Service.