EXELIXIS, INC. — Director's Dealing 2020

May 9, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

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

Reporting Person: Senner Christopher J. (EVP and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-05-07	Common Stock	M	21417	$3.66	Acquired	142120	Direct
2020-05-07	Common Stock	S	21417	$25.80	Disposed	120703	Direct
2020-05-08	Common Stock	M	78583	$3.66	Acquired	199286	Direct
2020-05-08	Common Stock	S	78583	$25.81	Disposed	120703	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-05-07	Option (right to buy)	$3.66	M	21417	Disposed	2022-07-14	Common Stock (21417.0)	Direct
2020-05-08	Option (right to buy)	$3.66	M	78583	Disposed	2022-07-14	Common Stock (78583.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2723	Indirect

Footnotes

F1: Includes 49,244 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 $25.75 to $25.99. 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 $25.51 to $25.97. 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 shares of Common Stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of May 6, 2020.

F5: The option, representing the right to purchase a total of 350,000 shares of Exelixis, Inc. common stock, became fully exercisable on July 15, 2019.