EXELIXIS, INC. — Director's Dealing 2016

Jan 5, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EXELIXIS, INC. (EXEL)
CIK: 0000939767
Period of Report: 2016-01-04

Reporting Person: WILLSEY LANCE (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-01-04	Common Stock	A	13298	—	Acquired	508273	Direct

Footnotes

F1: Represents shares of Exelixis, Inc. common stock that will be issued to the Reporting Person upon vesting of restricted stock units. Each restricted stock unit is the economic equivalent of one share of Exelixis, Inc. common stock.

F2: The restricted stock units were granted to the Reporting Person on the Transaction Date pursuant to the Exelixis, Inc. 2014 Equity Incentive Plan. The restricted stock units will vest as to 1/4th of the aggregate number of restricted stock units granted on each of April 1, 2016, July 1, 2016, September 30, 2016 and December 30, 2016.

F3: Includes 13,298 shares of Exelixis, Inc. common stock that will be issued to the Reporting Person upon vesting of restricted stock units.