BioMarin Pharmaceutical Inc. (BMRN) appoints new Chief Accounting Officer and details pay

Rhea-AI Filing Summary

BioMarin Pharmaceutical Inc. reported that it has appointed Rashmi Ramchandani as Vice President, Chief Accounting Officer, effective January 19, 2026. In this role she will also become the company’s principal accounting officer, while Brian Mueller will remain Executive Vice President, Chief Financial Officer and principal financial officer.

Ramchandani brings more than two decades of accounting and finance experience, including senior roles at Gilead Sciences and Strava, and is a CPA with a BA in Accounting and Psychology. Her compensation package includes a $460,000 annual base salary, a $400,000 sign-on bonus, eligibility for an annual bonus targeted at 45% of base salary starting in 2026, and equity awards of restricted stock units valued at $1,050,000 and $400,000 plus stock options valued at $450,000, all subject to time-based vesting and continued service.

The sign-on bonus must be repaid if her employment ends within two years under most circumstances, and the company states she has no related party transactions requiring disclosure.

Insights

Corporate governance and executive compensation analyst

BioMarin adds a dedicated Chief Accounting Officer with a standard, equity-heavy pay package.

The company is elevating its finance organization by appointing a separate Chief Accounting Officer while keeping the existing CFO in place. This can clarify roles between financial reporting and broader financial strategy, which may help oversight as the business grows in complexity. The filing also confirms that Brian Mueller continues as principal financial officer, signaling continuity in overall financial leadership.

Compensation for Rashmi Ramchandani combines cash and long-term equity. Her $460,000 base salary, $400,000 sign-on bonus, and a target annual bonus equal to 45% of base salary are paired with significant RSU and option grants with multi‑year vesting. The use of a two‑year repayment requirement on the sign‑on bonus, and vesting spread over up to four years, ties much of the value to tenure and ongoing service.

Equity amounts are sized in value terms—$1,050,000 and $400,000 of RSUs and $450,000 of options—converted to share counts using trailing average prices and option valuation. This structure aligns her incentives with BioMarin’s stock performance over several years, and the statement that there are no reportable related party transactions helps address basic governance and independence questions.

BIOMARIN PHARMACEUTICAL INC false 0001048477 0001048477 2025-12-11 2025-12-11

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 11, 2025

BioMarin Pharmaceutical Inc.

(Exact name of registrant as specified in its charter)

Delaware		000-26727		68-0397820
(State or other jurisdiction of incorporation or organization)		(Commission File Number)		(I.R.S. Employer Identification No.)

770 Lindaro Street		San Rafael		California		94901
(Address of Principal Executive Offices)						(Zip Code)

(415) 506-6700

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.001		BMRN		The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 11, 2025, BioMarin Pharmaceutical Inc. (BioMarin) announced the appointment of Rashmi Ramchandani as BioMarin’s Vice President, Chief Accounting Officer, effective January 19, 2026. In her capacity as Chief Accounting Officer, Ms. Ramchandani will also assume the role of BioMarin’s principal accounting officer from Brian Mueller, BioMarin’s Executive Vice President and Chief Financial Officer. Mr. Mueller will continue to serve as BioMarin’s Executive Vice President and Chief Financial Officer and principal financial officer.

Ms. Ramchandani, 47, has worked at Gilead Sciences, Inc., a public pharmaceutical company, from August 2013 to March 2022 and since February 2023, where she has held various accounting and finance roles of increasing responsibility, most recently as Vice President, Global Business Controller, and previously as Vice President, Assistant Controller from May 2021 to March 2022. She also served as Vice President, Controller at Strava, Inc., a private fitness tracking platform company, from March 2022 to January 2023. Ms. Ramchandani started her career in public accounting in 2001 with Deloitte and subsequently held accounting and finance roles at The Clorox Company and McKesson Corporation. Ms. Ramchandani is a CPA and holds a BA in Accounting and Psychology from Illinois Wesleyan University.

In connection with her appointment as Vice President, Chief Accounting Officer, Ms. Ramchandani will enter into BioMarin’s standard employment agreement and indemnification agreement for executive officers, and she will be entitled to the following: (i) an annual salary of $460,000 (Base Salary); (ii) a sign-on bonus of $400,000 (the Sign-on Bonus); (iii) the right to participate in BioMarin’s generally applicable employee bonus program starting in 2026 (payable in the first quarter of 2027), with a target payout percentage of 45% of her Base Salary; (iv) a grant of restricted stock units (RSUs) valued at $1,050,000, 25% of which shall vest on each of the first, second, third and fourth anniversaries of the grant date, subject to Ms. Ramchandani’s continuous service as of each such vesting date; (v) a grant of RSUs valued at $400,000, 100% of which shall vest on the first anniversary of the grant date, subject to Ms. Ramchandani’s continuous service as of such vesting date; and (vi) and a grant of stock options (Options) valued at $450,000, 25% of which shall vest on the first anniversary of the grant date and 1/48th of which shall vest on the same day of each month thereafter, subject to Ms. Ramchandani’s continuous service as of each such vesting date.

The number of shares of BioMarin’s common stock (Common Stock) subject to the RSUs will be determined based on a 30-trading day trailing average closing price of Common Stock on the day before the grant date and the number of shares of Common Stock subject to the Options will be determined based on the Black-Scholes model valuation using a 30-trading day trailing average closing price of Common Stock on the day before the grant date. The exercise price for the Options is the closing price of the Common Stock on the Nasdaq Global Select Market on the grant date, which date is also the vesting start date for such Options.

In addition, the Sign-on Bonus is subject to repayment in the event Ms. Ramchandani’s employment is terminated for any reason other than job elimination by BioMarin or her death or disability within the first two years of employment.

Ms. Ramchandani has not engaged in any transaction that would be reportable as a related party transaction under Item 404(a) of Regulation S-K.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

						BioMarin Pharmaceutical Inc., a Delaware corporation
Date: December 17, 2025				By:		/s/ G. Eric Davis
						G. Eric Davis
						Executive Vice President, Chief Legal Officer

FAQ

What executive leadership change did BioMarin Pharmaceutical Inc. (BMRN) disclose?

BioMarin disclosed that Rashmi Ramchandani has been appointed Vice President, Chief Accounting Officer, effective January 19, 2026. She will also serve as the company’s principal accounting officer, while Brian Mueller will continue as Executive Vice President, Chief Financial Officer and principal financial officer.

What is the compensation package for BioMarin’s new Chief Accounting Officer?

Rashmi Ramchandani will receive an annual base salary of $460,000, a $400,000 sign-on bonus, and eligibility for BioMarin’s employee bonus program starting in 2026 with a target payout of 45% of base salary. She will also receive RSU grants valued at $1,050,000 and $400,000 and stock options valued at $450,000, all subject to time-based vesting and continued service.

How will the equity awards to BioMarin’s new Chief Accounting Officer vest?

The $1,050,000 RSU grant vests in four equal installments of 25% on each of the first four anniversaries of the grant date. The $400,000 RSU grant vests 100% on the first anniversary of the grant date. The stock options valued at $450,000 vest 25% on the first anniversary of the grant date and then 1/48th on the same day of each month thereafter, in each case subject to her continuous service.

Is the sign-on bonus for BioMarin’s new Chief Accounting Officer subject to repayment?

Yes. The $400,000 sign-on bonus is subject to repayment if Rashmi Ramchandani’s employment ends within the first two years for any reason other than job elimination by BioMarin or her death or disability.

How will the number of RSUs and stock options for the BioMarin grant be determined?

The number of shares underlying the RSUs will be based on a 30-trading day trailing average closing price of BioMarin’s common stock on the day before the grant date. The number of shares underlying the stock options will be determined using a Black-Scholes model valuation with the same 30-trading day trailing average closing price. The option exercise price will be the closing price on the grant date.

Does BioMarin report any related party transactions involving the new Chief Accounting Officer?

BioMarin states that Rashmi Ramchandani has not engaged in any transaction that would be reportable as a related party transaction under Item 404(a) of Regulation S‑K.