EXELIXIS, INC. — Director's Dealing 2020

Mar 7, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EXELIXIS, INC. (EXEL)
CIK: 0000939767
Period of Report: 2020-03-04

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-03-04	Common Stock	M	50000	$5.51	Acquired	135985	Direct
2020-03-04	Common Stock	F	32884	$19.89	Disposed	103101	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-03-04	Option (right to buy)	$5.51	M	50000	Disposed	2020-09-17	Common Stock (50000.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	322127	Indirect
Common Stock	17728	Indirect

Footnotes

F1: 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.

F2: Represents a "net exercise" of an outstanding stock option. The Reporting Person received 17,116 shares of Common Stock on the net exercise of a stock option to purchase 50,000 shares of Common Stock. The Issuer withheld 32,884 shares of Common Stock underlying the stock option for payment of the exercise price and tax withholding using a stock price on March 4, 2020 of $19.89.

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 shares of Exelixis, Inc. common stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of March 4, 2020.

F5: 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.