Michael Morrissey - May 14, 2025 Form 4 Insider Report for EXELIXIS, INC. (EXEL)

Role
President and CEO, Director
Signature
/s/ Nina Ayer, Attorney in Fact
Stock symbol
EXEL
Transactions as of
May 14, 2025
Transactions value $
-$8,725,731
Form type
4
Date filed
5/16/2025, 08:57 PM
Previous filing
Mar 31, 2025
Next filing
Nov 13, 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
MORRISSEY MICHAEL President and CEO, Director C/O EXELIXIS, INC., 1851 HARBOR BAY PARKWAY, ALAMEDA /s/ Nina Ayer, Attorney in Fact 2025-05-16 0001202096

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EXEL Common Stock Options Exercise $5.8M +308K +19% $18.80 1.93M May 14, 2025 Direct F1
transaction EXEL Common Stock Tax liability -$9.85M -220K -11.42% $44.65 1.71M May 14, 2025 Direct F1, F2
transaction EXEL Common Stock Tax liability -$4.68M -105K -6.12% $44.65 1.61M May 15, 2025 Direct F1, F3
transaction EXEL Common Stock Gift $0 -87.9K -5.47% $0.00 1.52M May 16, 2025 Direct F1, F4
transaction EXEL Common Stock Gift $0 +87.9K +4.98% $0.00 1.85M May 16, 2025 By Trust F4, F5
holding EXEL Common Stock 17.7K May 14, 2025 By 401(k) F6

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction EXEL Option (right to buy) Options Exercise $0 -308K -100% $0.00 0 May 14, 2025 Common Stock 308K $18.80 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 1,416,692 shares of Exelixis, Inc. common stock ("Common Stock") that will be issued to the Reporting Person upon vesting of restricted stock units ("RSUs") and performance-based restricted stock units ("PSUs"). Each RSU is the economic equivalent of one share of Common Stock and each PSU represents a contingent right to receive one share of Common Stock.
F2 Represents a "net exercise" of an outstanding stock option to purchase 308,365 shares, and pursuant to which the Reporting Person received 87,871 shares, of Common Stock. The Issuer withheld 220,494 shares of Common Stock underlying the stock option for payment of the exercise price and tax withholding using the closing stock price on May 14, 2025 of $44.65.
F3 Shares withheld by Exelixis, Inc. to satisfy taxes payable in connection with the vesting of RSUs awarded on March 4, 2022, April 3, 2023, and February 23, 2024.
F4 On May 16, 2025, the Reporting Person gifted 87,871 shares of Common Stock to Michael M. Morrissey and Meghan D. Morrissey, Trustees of the Morrissey Family Trust dated July 21, 1994, as amended.
F5 Shares held by Michael M. Morrissey and Meghan D. Morrissey, Trustees of the Morrissey Family Living Trust dated July 21, 1994, as amended.
F6 Represents shares of Common Stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of May 14, 2025.
F7 The option, representing the right to purchase a total of 308,365 shares of Common Stock, became fully exercisable on September 10, 2022.