EXELIXIS, INC. — Director's Dealing 2020

May 12, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EXELIXIS, INC. (EXEL)
CIK: 0000939767
Period of Report: 2020-05-07

Reporting Person: Hessekiel Jeffrey (EVP and General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-05-07	Common Stock	M	30000	$1.90	Acquired	269188	Direct
2020-05-07	Common Stock	S	30000	$25.61	Disposed	239188	Direct
2020-05-08	Common Stock	M	25000	$1.90	Acquired	264188	Direct
2020-05-08	Common Stock	S	25000	$26.04	Disposed	239188	Direct
2020-05-11	Common Stock	M	38006	$1.90	Acquired	277194	Direct
2020-05-11	Common Stock	S	38006	$27.09	Disposed	239188	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-05-07	Option (right to buy)	$1.9	M	30000	Disposed	2022-02-04	Common Stock (30000.0)	Direct
2020-05-08	Option (right to buy)	$1.9	M	25000	Disposed	2022-02-04	Common Stock (25000.0)	Direct
2020-05-11	Option (right to buy)	$1.9	M	38006	Disposed	2022-02-04	Common Stock (38006.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	999	Indirect

Footnotes

F1: Includes 36,559 shares of Exelixis, Inc. common stock that will be issued to the Reporting Person upon vesting of restricted stock units and 1,618 shares of common stock acquired on April 30, 2020, pursuant to the Exelixis, Inc. 2000 Employee Stock Purchase Plan.

F2: Represents the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $25.60 to $25.66. 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 $26.00 to $26.14. 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 3 to this Form 4.

F4: Represents the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $26.94 to $27.23. 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 4 to this Form 4.

F5: Represents shares of Exelixis, Inc. common stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of May 6, 2020.

F6: The option, representing the right to purchase a total of 200,000 shares of Exelixis, Inc. common stock, became fully exercisable on April 28, 2016.