EXELIXIS, INC. — Director's Dealing 2021

May 14, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EXELIXIS, INC. (EXEL)
CIK: 0000939767
Period of Report: 2021-05-11

Reporting Person: PAPADOPOULOS STELIOS (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-11	Common Stock	M	40000	$6.30	Acquired	1228897	Direct
2021-05-11	Common Stock	S	10222	$24.95	Disposed	1218675	Direct
2021-05-11	Common Stock	M	40000	$3.13	Acquired	1258675	Direct
2021-05-11	Common Stock	S	5075	$25	Disposed	1253600	Direct
2021-05-11	Common Stock	M	40000	$3.38	Acquired	1293600	Direct
2021-05-11	Common Stock	S	5473	$25.01	Disposed	1288127	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-11	Option (right to buy)	$6.3	M	40000	Disposed	2023-05-25	Common Stock (40000.0)	Direct
2021-05-11	Option (right to buy)	$3.13	M	40000	Disposed	2022-05-27	Common Stock (40000.0)	Direct
2021-05-11	Option (right to buy)	$3.38	M	40000	Disposed	2021-05-28	Common Stock (40000.0)	Direct

Footnotes

F1: Includes 15,538 shares of Exelixis, Inc. common stock ("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 $24.93 to $24.97. 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 2 to this Form 4.

F3: Represents the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $24.98 to $25.01. 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 the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $24.99 to $25.01. 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 4 to this Form 4.

F5: The option, representing the right to purchase a total of 40,000 shares of Exelixis, Inc. common stock, became fully exercisable on May 26, 2016.

F6: The option, representing the right to purchase a total of 40,000 shares of Exelixis, Inc. common stock, became fully exercisable on May 28, 2015.

F7: The option, representing the right to purchase a total of 40,000 shares of Exelixis, Inc. common stock, became fully exercisable on May 29, 2014.