Peter Lamb - 15 Nov 2021 Form 4 Insider Report for EXELIXIS, INC. (EXEL)

Role: EVP, Scientific Strategy & CSO
Signature: /s/ Jennifer Drimmer Rokovich, Attorney in Fact
Issuer symbol: EXEL
Transactions as of: 15 Nov 2021
Net transactions value: -$1,689,450
Form type: 4
Filing time: 17 Nov 2021, 19:02:39 UTC
Previous filing: 15 Oct 2021
Next filing: 17 Dec 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EXEL	Common Stock	Options Exercise	$294,975	+47,500	+12%	$6.21	458,740	15 Nov 2021	Direct	F1
transaction	EXEL	Common Stock	Sale	$859,275	-47,500	-10%	$18.09	411,240	15 Nov 2021	Direct	F2, F3
transaction	EXEL	Common Stock	Tax liability	$123,406	-6,818	-1.7%	$18.10	404,422	15 Nov 2021	Direct	F4
transaction	EXEL	Common Stock	Tax liability	$42,046	-2,323	-0.57%	$18.10	402,099	15 Nov 2021	Direct	F5
transaction	EXEL	Common Stock	Tax liability	$959,698	-53,022	-13%	$18.10	349,077	15 Nov 2021	Direct	F6
holding	EXEL	Common Stock						17,105	15 Nov 2021	By 401(k)	F7

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)	Options Exercise	$0	-47,500	-50%	$0.000000	47,500	15 Nov 2021	Common Stock	47,500	$6.21	Direct	F8

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

Explanation of Responses:

Id	Content
F1	Includes 104,202 shares of Exelixis, Inc. common stock that will be issued to the Reporting Person upon vesting of restricted stock units.
F2	The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 18, 2021.
F3	Represents the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $17.94 to $18.28. 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 3 to this Form 4.
F4	Shares withheld by Exelixis, Inc. to satisfy taxes payable in connection with the vesting of restricted stock units awarded on October 3, 2017.
F5	Shares withheld by Exelixis, Inc. to satisfy taxes payable in connection with the vesting of performance-based restricted stock units awarded on September 10, 2018, for which the Compensation Committee certified that Exelixis, Inc. had achieved the performance goal on September 2, 2020.
F6	Shares withheld by Exelixis, Inc. to satisfy taxes payable in connection with the vesting of performance-based restricted stock units awarded on September 20, 2019, for which the Compensation Committee certified that Exelixis, Inc. had achieved certain performance criteria on October 22, 2020.
F7	Represents shares of Exelixis, Inc. common stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of November 12, 2021.
F8	The option, representing the right to purchase a total of 190,000 shares of Exelixis, Inc. common stock, became fully exercisable on September 16, 2019.