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: MORRISSEY MICHAEL (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-03-03	Common Stock	M	100000	$9.91	Acquired	160000	Direct
2017-03-03	Common Stock	S	100000	$22.83	Disposed	60000	Direct
2017-03-06	Common Stock	M	100000	$9.91	Acquired	160000	Direct
2017-03-06	Common Stock	S	100000	$22.61	Disposed	60000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-03-03	Option (right to buy)	$9.91	M	100000	Disposed	2017-12-05	Common Stock (100000.0)	Direct
2017-03-06	Option (right to buy)	$9.91	M	100000	Disposed	2017-12-05	Common Stock (100000.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	172698	Indirect
Common Stock	16825	Indirect

Footnotes

F1: Includes 60,000 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 $22.80 to $22.94. 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: Represents the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $22.50 to $22.69. 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 3 to this Form 4.

F4: Shares held by Michael M. Morrissey and Meghan D. Morrissey, Trustees of the Morrissey Family Living Trust dated July 21, 1994, as amended.

F5: Represents 16,825 shares of Exelixis, Inc. common stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of March 6, 2017.

F6: The option, representing the right to purchase a total of 200,000 shares of Exelixis, Inc. common stock, became fully exercisable on December 6, 2011.