EXELIXIS, INC. — Director's Dealing 2016

May 11, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EXELIXIS, INC. (EXEL)
CIK: 0000939767
Period of Report: 2016-05-09

Reporting Person: WILLSEY LANCE (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-09	Common Stock	P	40000	$4.9725	Acquired	548273	Direct
2016-05-11	Common Stock	P	20000	$4.95	Acquired	568273	Direct

Footnotes

F1: Represents weighted average purchase price. The shares were purchased in multiple transactions at prices ranging from $4.95 to $5.00.

F2: Reporting person undertakes to provide Exelixis, Inc., any security holder of Exelixis, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote 1 to this Form 4.

F3: Includes 9,974 shares of common stock issuable pursuant to previously reported restricted stock units that have not vested.