EXELIXIS, INC. — Director's Dealing 2024

May 31, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EXELIXIS, INC. (EXEL)
CIK: 0000939767
Period of Report: 2024-05-28

Reporting Person: JOHNSON DAVID EDWARD (Director)
Reporting Person: Caligan Partners LP (Director, See Remarks)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-05-28	Common Stock	P	200000	$20.3195	Acquired	1300730	Indirect
2024-05-30	Common Stock	P	225000	$20.7558	Acquired	1525730	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	18176	Direct

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were purchased by Caligan Master Fund (as defined below) in multiple transactions at prices ranging from $20.22 to $20.375, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth herein.

F2: This Form 4 is filed by David Johnson ("Mr. Johnson") and Caligan Partners LP ("Caligan") with respect to the securities held by Caligan Partners Master Fund LP ("Caligan Master Fund"), a Cayman Islands limited partnership, and managed accounts ("Caligan Accounts", together with the Caligan Master Fund, the "Caligan Fund and Accounts") to which Caligan serves as investment manager. Mr. Johnson is the Managing Partner of Caligan and a Managing Member of Caligan Partners GP LLC, the general partner of Caligan.

F3: The price reported in Column 4 is a weighted average price. These shares were purchased by Caligan Master Fund (as defined below) in multiple transactions at prices ranging from $20.40 to $20.885, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth herein.

F4: Represents shares of common stock that will be issued to Mr. Johnson upon vesting of restricted stock units. Mr. Johnson is deemed to hold the securities reported herein for the benefit of the Caligan Fund and Accounts, and may, after vesting, if applicable, transfer the securities directly to the Caligan Fund and Accounts.