EXELIXIS, INC. — Director's Dealing 2026

Feb 19, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EXELIXIS, INC. (EXEL)
CIK: 0000939767
Period of Report: 2026-02-15

Reporting Person: Hefti Brenda (SVP and General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-02-15	Common Stock	F	5430	$43.92	Disposed	115181	Direct
2026-02-18	Common Stock	S	18669	$44.01	Disposed	96512	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5527	Indirect

Footnotes

F1: Shares withheld by Exelixis, Inc. to satisfy taxes payable in connection with the vesting of performance-based restricted stock units awarded on March 4, 2022, for which the Compensation
Committee certified that Exelixis, Inc. had achieved certain performance criteria on January 16, 2025.

F2: Includes 95,956 shares of Exelixis, Inc. common stock ("Common Stock") that will be issued to the Reporting Person upon vesting of restricted stock units ("RSUs") and PSUs granted to the
Reporting Person on March 31, 2025 ("One-Time Award PSUs"). Each RSU is the economic equivalent of one share of Common Stock and each One-Time Award PSU represents a contingent right to
receive one share of Common Stock.

F3: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 19, 2025.

F4: Represents the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $43.32 to $44.49. 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: Represents shares of Common Stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of February 13, 2026.