EXELIXIS, INC. — Director's Dealing 2011

Sep 30, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EXELIXIS INC (EXEL)
CIK: 0000939767
Period of Report: 2011-09-28

Reporting Person: KARBE FRANK (EVP and CFO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-09-28	Stock Option (right to buy)	$5.50	A	150000	Acquired	2018-09-27	Common Stock (150000)	Direct

Footnotes

F1: Options granted pursuant to Issuer's 2011 Equity Incentive Plan. Twenty five percent (25%) of the shares vest one year from the grant date, and the remaining shares vest in 36 equal monthly installments thereafter.