EXELIXIS, INC. — Director's Dealing 2025

May 17, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EXELIXIS, INC. (EXEL)
CIK: 0000939767
Period of Report: 2025-05-14

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-05-14	Common Stock	M	308365	$18.80	Acquired	1931374	Direct
2025-05-14	Common Stock	F	220494	$44.65	Disposed	1710880	Direct
2025-05-15	Common Stock	F	104769	$44.65	Disposed	1606111	Direct
2025-05-16	Common Stock	G	87871	—	Disposed	1518240	Direct
2025-05-16	Common Stock	G	87871	—	Acquired	1852856	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-05-14	Option (right to buy)	$18.80	M	308365	Disposed	2025-09-09	Common Stock (308365)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	17728	Indirect

Footnotes

F1: Includes 1,416,692 shares of Exelixis, Inc. common stock ("Common Stock") that will be issued to the Reporting Person upon vesting of restricted stock units ("RSUs") and performance-based
restricted stock units ("PSUs"). Each RSU is the economic equivalent of one share of Common Stock and each PSU represents a contingent right to receive one share of Common Stock.

F2: Represents a "net exercise" of an outstanding stock option to purchase 308,365 shares, and pursuant to which the Reporting Person received 87,871 shares, of Common Stock. The Issuer withheld 220,494 shares of Common Stock underlying the stock option for payment of the exercise price and tax withholding using the closing stock price on May 14, 2025 of $44.65.

F3: Shares withheld by Exelixis, Inc. to satisfy taxes payable in connection with the vesting of RSUs awarded on March 4, 2022, April 3, 2023, and February 23, 2024.

F4: On May 16, 2025, the Reporting Person gifted 87,871 shares of Common Stock to Michael M. Morrissey and Meghan D. Morrissey, Trustees of the Morrissey Family Trust dated July 21, 1994, as amended.

F5: Shares held by Michael M. Morrissey and Meghan D. Morrissey, Trustees of the Morrissey Family Living Trust dated July 21, 1994, as amended.

F6: Represents shares of Common Stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of May 14, 2025.

F7: The option, representing the right to purchase a total of 308,365 shares of Common Stock, became fully exercisable on September 10, 2022.