Ted W. Love
Director at GILD
Board
About Ted W. Love
Ted W. Love, M.D., is an independent director of Gilead Sciences, elected in February 2024, currently serving on the Audit Committee. He is 66 and a physician-operator with deep biopharma leadership experience, including CEO tenure at Global Blood Therapeutics and senior roles at Genentech and Onyx. He also serves as Chair of the Board of the Biotechnology Innovation Organization (BIO). The Board classifies him as independent and disclosed no conflicts for 2024–Mar 27, 2025 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Global Blood Therapeutics, Inc. | President & CEO | 2014–2022 | Led company from pre-clinical startup to global commercial company focused on sickle cell disease |
| Onyx Pharmaceuticals, Inc. | EVP, Research & Development and Technical Operations | Not disclosed | Senior operating leadership in R&D and ops |
| Nuvelo, Inc. | President, CEO & Chairman | Not disclosed | Corporate leadership |
| Theravance Biopharma, Inc. | SVP, Development | Not disclosed | Development leadership |
| Genentech, Inc. | Senior management in clinical science/product development | Not disclosed | Chair, Product Development Committee |
| Massachusetts General Hospital | Department of Cardiology (physician) | Not disclosed | Clinical practice background |
External Roles
| Organization | Role | Status/Years | Notes |
|---|---|---|---|
| Biotechnology Innovation Organization (BIO) | Chair of Board of Directors | Current | Trade association leadership |
| Royalty Pharma plc | Director | Current | Public company board |
| Structure Therapeutics Inc. | Director | Current | Public company board |
| Seagen Inc. | Director | 2020–2023 | Prior public company board |
| Global Blood Therapeutics, Inc. | Director | 2013–2022 | Prior public company board |
| Portola Pharmaceuticals, Inc. | Director | 2019–2020 | Prior public company board |
| Amicus Therapeutics, Inc. | Director | 2012–2020 | Prior public company board |
Board Governance
- Independence and conflicts: Board determined Dr. Love is independent; no related person transactions or conflicts for directors/officers Jan 1, 2024–Mar 27, 2025 .
- Committee assignment: Audit Committee member (current members: Kelly A. Kramer (Chair), Ted W. Love, M.D., Javier J. Rodriguez); 2024 meetings: 8 .
- Board/committee attendance: All directors attended >75% of meetings in 2024; average attendance 98.4%; Board met 6 times; Audit 8; Compensation & Talent 5; Nominating & Corporate Governance 5; Science 4 .
- Director election (May 7, 2025): Votes For 1,004,482,723; Against 15,913,306; Abstain 983,357; Broker non-votes 99,956,982—comfortably elected .
- Company say-on-pay support: 2025 advisory vote For 929,612,739; Against 89,351,501; Abstain 2,415,146; strong support signal .
Fixed Compensation (Director)
| Component | FY2024 Dollar Amount | Notes |
|---|---|---|
| Cash fees (Board/committees; pro-rated for start date) | $81,448 | Fees earned in cash for 2024 service |
| Annual cash retainer (program design) | $75,000 | Standard non-employee director retainer (program feature) |
| Lead Independent Director add’l retainer (program design) | $45,000–$75,000 | Not applicable to Love; program terms disclosed |
Program notes:
- Non-employee directors receive cash retainers plus equity awards; additional cash retainers apply for committee chairs/members and Lead Independent Director; LID receives $45,000 if serving on committees or $75,000 otherwise .
- Directors may defer cash retainers into phantom shares or investment funds under the Deferred Compensation Plan; no above‑market earnings .
Performance Compensation (Director Equity)
| Grant Type | Grant Date | Quantity/Strike | Grant-Date Reference Price | Grant-Date Fair Value | Vesting |
|---|---|---|---|---|---|
| RSUs (initial pro‑rated) | Feb 2, 2024 | 512 RSUs | $76.96/share | Included in $189,369 total stock awards | Vests immediately on grant (director grants vest upon grant) |
| RSUs (annual) | May 8, 2024 | 2,310 RSUs | $64.92/share | Included in $189,369 total stock awards | Vests immediately on grant |
| Stock Options (initial) | Feb 2, 2024 | 2,996 @ $76.96 | N/A | Included in $189,440 total option awards | Vests immediately on grant; 10-year term; 3-year post‑service exercise window |
| Stock Options (annual) | May 8, 2024 | 12,648 @ $64.92 | N/A | Included in $189,440 total option awards | Vests immediately on grant |
Aggregate 2024 director compensation totals (for Love):
- Stock awards: $189,369; Option awards: $189,440; All other (charitable match): $15,000; Total: $475,257 .
Performance metrics tied to director compensation:
- None disclosed (director equity vests on grant; no performance conditions) .
Other Directorships & Interlocks
| Topic | Disclosure |
|---|---|
| Current public boards | Royalty Pharma plc; Structure Therapeutics Inc. |
| Trade association leadership | Chair, Biotechnology Innovation Organization |
| Compensation committee interlocks | None disclosed for 2024 (company-level disclosure) |
Expertise & Qualifications
- Significant biopharma leadership, including CEO experience; physician with strong scientific background (supports Science/Audit oversight) .
Equity Ownership
| Metric | Value | Notes |
|---|---|---|
| Total beneficial ownership | 18,466 shares | Includes options exercisable within 60 days |
| Percent of shares outstanding | <1% | As reported in beneficial ownership table |
| Options exercisable within 60 days | 15,644 | Included in beneficial ownership |
| RSUs outstanding at 12/31/2024 | — | Aggregate stock awards outstanding: none for Love |
| Options outstanding at 12/31/2024 | 15,644 | As of year-end 2024 |
| Pledging/hedging | Prohibited by company policy for directors; none indicated for Love | |
| Stock ownership guidelines | 5x annual cash retainer to be achieved within 5 years; all directors in compliance as of Dec 31, 2024 |
Governance Assessment
-
Positives
- Independent director with material operating and scientific expertise; placed on Audit Committee, aligning skills to oversight needs .
- Strong shareholder mandate: >1.00B votes for Love’s 2025 election; high company say‑on‑pay support (indicative of investor alignment) .
- No related‑party transactions or conflicts disclosed; prohibitions on hedging/pledging; robust ownership guidelines with compliance reported .
- Board/committee effectiveness signals: high 2024 attendance (avg 98.4%), annual evaluations, independent committees .
-
Potential watch items
- Multiple external roles (BIO chair; two public boards) require continued monitoring for time commitments and potential transactional overlaps; Board reports compliance with overboarding limits and no conflicts in review period .
No RED FLAGS identified in company filings for Dr. Love during the disclosed period (no related-party transactions, no pledging, no attendance shortfalls, no disclosed legal proceedings) .