EXELIXIS, INC. — Director's Dealing 2023

Aug 31, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EXELIXIS, INC. (EXEL)
CIK: 0000939767
Period of Report: 2023-08-28

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-08-28	Common Stock	M	360000	$15.31	Acquired	945496	Direct
2023-08-28	Common Stock	F	303779	$22.18	Disposed	641717	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-08-28	Option (right to buy)	$15.31	M	360000	Disposed	2023-09-25	Common Stock (360000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1340320	Indirect
Common Stock	17728	Indirect

Footnotes

F1: Includes 515,997 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 56,221 shares of Common Stock on the net exercise of a stock option to purchase 360,000 shares of Common Stock. The Issuer withheld 303,779 shares of Common Stock underlying the stock option for payment of the exercise price and tax withholding using a stock price on August 28, 2023 of $22.18.

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 Common Stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of August 27, 2023.

F5: The option, representing the right to purchase a total of 360,000 shares of Common Stock, became fully exercisable on September 26, 2020.