Edgar Filing: GILEAD SCIENCES INC

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

MILLIGAN JOHN F

2. Issuer Name and Ticker or Trading Symbol
GILEAD SCIENCES INC [GILD]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
COO and CFO

(Last)

(First)

(Middle)

333 LAKESIDE DRIVE

3. Date of Earliest Transaction (Month/Day/Year)
09/04/2007

(Street)

FOSTER CITY, CA 94404

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	09/04/2007		M		53,280 ⁽¹⁾	A	$ 4.905	260,673 ⁽²⁾	D
Common Stock	09/04/2007		M		6,720 ⁽¹⁾	A	$ 8.5813	267,393 ⁽²⁾	D
Common Stock	09/04/2007		S		5,000 ⁽¹⁾	D	$ 36.4633	262,393 ⁽²⁾	D
Common Stock	09/04/2007		S		5,000 ⁽¹⁾	D	$ 36.54	257,393 ⁽²⁾	D
Common Stock	09/04/2007		S		10,000 ⁽¹⁾	D	$ 36.585	247,393 ⁽²⁾	D
Common Stock	09/04/2007		S		10,000 ⁽¹⁾	D	$ 36.649	237,393 ⁽²⁾	D
Common Stock	09/04/2007		S		10,000 ⁽¹⁾	D	$ 36.79	227,393 ⁽²⁾	D
Common Stock	09/04/2007		S		4,644 ⁽¹⁾	D	$ 36.9313	222,749 ⁽²⁾	D
Common Stock	09/04/2007		S		15,356 ⁽¹⁾	D	$ 36.9113	207,393 ⁽²⁾ ⁽³⁾	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Non-Qualified Stock Option (right to buy)

$ 4.905

09/04/2007

53,280

⁽⁴⁾

04/17/2011

Common Stock

53,280

$ 0

Non-Qualified Stock Option (right to buy)

$ 8.5813

09/04/2007

6,720

⁽⁵⁾

10/24/2011

Common Sto

6,720

$ 0

153,280

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
MILLIGAN JOHN F 333 LAKESIDE DRIVE FOSTER CITY, CA 94404			COO and CFO

Signatures

/s/ John F. Milligan		09/04/2007
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The exercise and sale transactions reported in this Form 4 are made pursuant to a Rule 10b5-1 trading plan established by John Milligan on May 16, 2007.
(2)	All shares and dollar amounts reflect a two-for-one split that was effected on June 22, 2007 benefiting all shareholders of record as of May 24, 2007.
(3)	Amount of securities beneficially owned following the reported transactions includes 791 shares acquired under the Gilead Sciences, Inc. Employee Stock Purchase Plan on June 29, 2007.
(4)	The options vested 20% on April 18, 2002, the first anniversary date of the grant. The balance vested 5% every three months thereafter and was fully vested as of April 18, 2006.
(5)	The options vested 20% on October 25, 2002, the first anniversary date of the grant. The balance vested 5% every three months thereafter and was fully vested as of October 25, 2006.

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