EXELIXIS, INC. — Director's Dealing 2020

Jul 23, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EXELIXIS, INC. (EXEL)
CIK: 0000939767
Period of Report: 2020-07-20

Reporting Person: MORRISSEY MICHAEL (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-07-14	Common Stock	G	35559	—	Disposed	85985	Direct
2020-07-14	Common Stock	G	35559	—	Acquired	995772	Indirect
2020-07-20	Common Stock	M	100000	$6.21	Acquired	185985	Direct
2020-07-20	Common Stock	F	64137	$25.60	Disposed	121848	Direct
2020-07-22	Common Stock	G	35863	—	Disposed	85985	Direct
2020-07-22	Common Stock	G	35863	—	Acquired	1031635	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-07-20	Option (right to buy)	$6.21	M	100000	Disposed	2022-09-15	Common Stock (100000.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	17728	Indirect

Footnotes

F1: On July 14, 2020, the Reporting Person gifted 35,559 shares of Exelixis, Inc. common stock ("Common Stock") to Michael M. Morrissey and Meghan D. Morrissey, Trustees of the Morrissey Family Trust dated July 21, 1994, as amended.

F2: Includes 85,985 shares of Exelixis, Inc. Common Stock that will be issued to the Reporting Person upon vesting of restricted stock units.

F3: Shares held by Michael M. Morrissey and Meghan D. Morrissey, Trustees of the Morrissey Family Living Trust dated July 21, 1994, as amended.

F4: Represents a "net exercise" of an outstanding stock option. The Reporting Person received 35,863 shares of Common Stock on the net exercise of a stock option to purchase 100,000 shares of Common Stock. The Issuer withheld 64,137 shares of Common Stock underlying the stock option for payment of the exercise price and tax withholding using a stock price on July 20, 2020 of $25.60.

F5: On July 22, 2020, the Reporting Person gifted 35,863 shares of Common Stock to Michael M. Morrissey and Meghan D. Morrissey, Trustees of the Morrissey Family Trust dated July 21, 1994, as amended.

F6: Represents shares of Common Stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of July 20, 2020.

F7: The option, representing the right to purchase a total of 500,000 shares of Common Stock, became fully exercisable on September 16, 2019.