EXELIXIS, INC. — Director's Dealing 2017

Mar 8, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EXELIXIS, INC. (EXEL)
CIK: 0000939767
Period of Report: 2017-03-03

Reporting Person: Hessekiel Jeffrey (EVP and General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-03-03	Common Stock	M	100000	$7.27	Acquired	346617	Direct
2017-03-03	Common Stock	S	36999	$23	Disposed	309618	Direct
2017-03-03	Common Stock	S	3519	$23.20	Disposed	306099	Direct
2017-03-03	Common Stock	S	59482	$23.05	Disposed	246617	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-03-03	Option (right to buy)	$7.27	M	100000	Disposed	2021-02-09	Common Stock (100000.0)	Direct

Footnotes

F1: Includes 16,250 shares of Exelixis, Inc. common stock that will be issued to the Reporting Person upon vesting of restricted stock units.

F2: Represents the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $23.03 to $23.14. 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 2 to this Form 4.

F3: The option, representing the right to purchase a total of 230,000 shares of Exelixis, Inc. common stock, was exercisable as to 172,500 shares on the Transaction Date. The remainder of the option will vest as to 1/48th of the original number of shares subject to the option on each monthly anniversary of the February 10, 2014 grant date.