EXELIXIS, INC. — Director's Dealing 2021

May 15, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EXELIXIS, INC. (EXEL)
CIK: 0000939767
Period of Report: 2021-05-13

Reporting Person: Schwab Gisela (Pres, Prod Dev & Med Aff & CMO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-13	Common Stock	M	100000	$1.90	Acquired	714078	Direct
2021-05-13	Common Stock	S	100000	$25.38	Disposed	614078	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-13	Option (right to buy)	$1.9	M	100000	Disposed	2022-02-04	Common Stock (100000.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	14880	Indirect

Footnotes

F1: Includes 243,968 shares of Exelixis, Inc. common stock that will be issued to the Reporting Person upon vesting of restricted stock units and 596 shares of common stock acquired on April 30, 2021, pursuant to the Exelixis, Inc. 2000 Employee Stock Purchase Plan.

F2: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 25, 2021.

F3: Represents the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $25.15 to $25.65. 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 Exelixis, Inc. common stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of May 13, 2021.

F5: The option, representing the right to purchase a total of 250,000 shares of Exelixis, Inc. common stock, became fully exercisable on April 28, 2016.