DAVID EDWARD JOHNSON - 29 May 2025 Form 4 Insider Report for EXELIXIS, INC. (EXEL)

Role: Director
Signature: /s/ David Edward Johnson
Issuer symbol: EXEL
Transactions as of: 29 May 2025
Net transactions value: $0
Form type: 4
Filing time: 02 Jun 2025, 17:22:46 UTC
Previous filing: 24 Jun 2024
Next filing: 20 Jun 2025
SEC: View on sec.gov

Reporting Owners (2)

Name	Relationship	Address	Signature	Signature date	CIK
JOHNSON DAVID EDWARD	Director	780 THIRD AVENUE, 30TH FLOOR, NEW YORK	/s/ David Edward Johnson	02 Jun 2025	0001785557
Caligan Partners LP	Director, Other*	780 THIRD AVENUE, 30TH FLOOR, NEW YORK	Caligan Partners LP, By: /s/ David Johnson, Managing Partner	02 Jun 2025	0001727492

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	EXEL	Option (right to buy)	Award	$0	+21,464		$0.000000	21,464	29 May 2025	Common Stock	21,464	$42.60	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Option granted to David Johnson ("Mr. Johnson") pursuant to the Exelixis, Inc. 2017 Equity Incentive Plan. The option is exercisable immediately, subject to repurchase provisions, and will vest as to 100% of the shares subject to the option on the first anniversary of the date of grant, subject to Mr. Johnson's continuous service through such date.
F2	Mr. Johnson is deemed to hold the securities reported herein for the benefit of Caligan Partners Master Fund LP (the "Caligan Master Fund") and managed accounts to which Caligan Partners LP ("Caligan") serves as investment manager (the "Caligan Accounts", together with the Caligan Master Fund, the "Caligan Fund and Accounts"), and may, after vesting, if applicable, transfer the securities directly to the Caligan Fund and Accounts.

Content

Option granted to David Johnson ("Mr. Johnson") pursuant to the Exelixis, Inc. 2017 Equity Incentive Plan. The option is exercisable immediately, subject to repurchase provisions, and will vest as to 100% of the shares subject to the option on the first anniversary of the date of grant, subject to Mr. Johnson's continuous service through such date.

Mr. Johnson is deemed to hold the securities reported herein for the benefit of Caligan Partners Master Fund LP (the "Caligan Master Fund") and managed accounts to which Caligan Partners LP ("Caligan") serves as investment manager (the "Caligan Accounts", together with the Caligan Master Fund, the "Caligan Fund and Accounts"), and may, after vesting, if applicable, transfer the securities directly to the Caligan Fund and Accounts.

Remarks:

Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of its or his pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose. Caligan may be deemed to be a director by deputization of the Issuer by virtue of the fact that Mr. Johnson currently serves on the Issuer's board of directors.