EXELIXIS, INC. — Director's Dealing 2020

Apr 30, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EXELIXIS, INC. (EXEL)
CIK: 0000939767
Period of Report: 2020-04-27

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-04-27	Common Stock	G	93640	—	Disposed	85985	Direct
2020-04-27	Common Stock	G	93640	—	Acquired	600761	Indirect
2020-04-27	Common Stock	M	285000	$1.70	Acquired	370985	Direct
2020-04-27	Common Stock	F	158435	$27.37	Disposed	212550	Direct
2020-04-29	Common Stock	G	126565	—	Disposed	85985	Direct
2020-04-29	Common Stock	G	126565	—	Acquired	727326	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-04-27	Option (right to buy)	$1.7	M	285000	Disposed	2021-09-18	Common Stock (285000.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	17728	Indirect

Footnotes

F1: On April 27, 2020, the Reporting Person gifted 93,640 shares 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 ("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 126,565 shares of Common Stock on the net exercise of a stock option to purchase 285,000 shares of Common Stock. The Issuer withheld 158,435 shares of Common Stock underlying the stock option for payment of the exercise price and tax withholding using a stock price on April 27, 2020 of $27.37.

F5: On April 29, 2020, the Reporting Person gifted 126,565 shares to Michael M. Morrissey and Meghan D. Morrissey, Trustees of the Morrissey Family Trust dated July 21, 1994, as amended.

F6: Represents shares of Exelixis, Inc. common stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of April 27, 2020.

F7: The option, representing the right to purchase a total of 1,125,000 shares of Common Stock, became fully exercisable on April 28, 2016.