EXELIXIS, INC. — Director's Dealing 2020

Apr 25, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EXELIXIS, INC. (EXEL)
CIK: 0000939767
Period of Report: 2020-04-23

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-04-23	Common Stock	G	80799	—	Disposed	85985	Direct
2020-04-23	Common Stock	G	80799	—	Acquired	507121	Indirect
2020-04-23	Common Stock	M	250000	$5.51	Acquired	335985	Direct
2020-04-23	Common Stock	F	156360	$26.37	Disposed	179625	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-04-23	Option (right to buy)	$5.51	M	250000	Disposed	2020-09-17	Common Stock (250000.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	17728	Indirect

Footnotes

F1: On April 23, 2020, the Reporting Person gifted 80,799 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 93,640 shares of Common Stock on the net exercise of a stock option to purchase 250,000 shares of Common Stock. The Issuer withheld 156,360 shares of Common Stock underlying the stock option for payment of the exercise price and tax withholding using a stock price on April 23, 2020 of $26.37.

F5: Represents shares of Common Stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of April 22, 2020.

F6: The option, representing the right to purchase a total of 720,000 shares of Exelixis, Inc. common stock, became fully exercisable on September 18, 2017.