Michael Morrissey - Dec 15, 2021 Form 4 Insider Report for EXELIXIS, INC. (EXEL)

Signature
/s/ Jennifer Drimmer Rokovich, Attorney in Fact
Stock symbol
EXEL
Transactions as of
Dec 15, 2021
Transactions value $
-$208,012
Form type
4
Date filed
12/17/2021, 07:41 PM
Previous filing
Nov 17, 2021
Next filing
Feb 14, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EXEL Common Stock Gift $0 -197K -53.51% $0.00 171K Nov 29, 2021 Direct F1, F2
transaction EXEL Common Stock Gift $0 +197K +18.92% $0.00 1.24M Nov 29, 2021 By Trust F1, F3
transaction EXEL Common Stock Award $0 +46.5K +27.22% $0.00 217K Dec 15, 2021 Direct F4, F5, F6, F7
transaction EXEL Common Stock Tax liability -$208K -12.2K -5.63% $17.00 205K Dec 15, 2021 Direct F8
holding EXEL Common Stock 17.7K Dec 15, 2021 By 401(k) F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On November 29, 2021, the Reporting Person gifted 196,524 shares of Exelixis, Inc. common stock to Michael M. Morrissey and Meghan D. Morrissey, Trustees of the Morrissey Family Living Trust dated July 21, 1994, as amended.
F2 Includes 170,764 shares of Exelixis, Inc. common stock that will be issued to the Reporting Person upon vesting of restricted stock units.
F3 Shares held by Michael M. Morrissey and Meghan D. Morrissey, Trustees of the Morrissey Family Living Trust dated July 21, 1994, as amended.
F4 Represents shares of Exelixis, Inc. common stock issued to the Reporting Person upon vesting of restricted stock units. Each restricted stock unit is the economic equivalent of one share of Exelixis, Inc. common stock.
F5 On September 10, 2018, the Reporting Person was granted a performance-based restricted stock unit ("PSU") award under the Exelixis, Inc. 2017 Equity Incentive Plan covering 46,478 shares of common stock. The PSU award generally vests as follows: (i) 50% of the original number of shares subject to the award vest upon certification by the Compensation Committee (the "Committee") that Exelixis, Inc. has achieved certain performance criteria related to the submission of Investigational New Drug applications with the U.S. Food and Drug Administration, or equivalent applications or filings with a foreign governmental authority, with respect to product candidates discovered, in-licensed or acquired by Exelixis, Inc. (the "2018 PSU Goal"); and (ii) 50% of the original number of shares subject to the award will vest on the first quarterly PSU vesting date (i.e. February 15th, May 15th, August 15th and November 15th) following the one-year anniversary of the Committee's certification.
F6 On December 15, 2021, the Committee convened to determine that the 2018 PSU Goal had been achieved, resulting in the immediate vesting of 50% of the PSU award, and the remaining 50% will vest on February 15, 2023, subject to the Reporting Person's continuous service through that date.
F7 Includes 194,003 shares of Exelixis, Inc. common stock that will be issued to the Reporting Person upon vesting of restricted stock units.
F8 Shares withheld by Exelixis, Inc. to satisfy taxes payable in connection with the vesting of certain restricted stock units earned on December 15, 2021.
F9 Represents shares of Exelixis, Inc. common stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of December 15, 2021.