Patrick J. Haley - 03 Aug 2022 Form 4 Insider Report for EXELIXIS, INC. (EXEL)

Reporting relationship: EVP, Commercial
Issuer ticker: EXEL
Reported as of: 03 Aug 2022
Net transaction value: -$154,234
SEC form: 4
Accepted by SEC: 05 Aug 2022, 21:43:01 UTC
Prior SEC filing: 01 Jun 2022
Next SEC filing: 14 Sep 2022
Source filing: View source filing
Reporting owner signature: /s/ Nina Ayer, Attorney in Fact

Key filing fact

Patrick J. Haley filed Form 4 for EXELIXIS, INC. (EXEL) on 05 Aug 2022.

Key facts

This page summarizes Patrick J. Haley's Form 4 filing for EXELIXIS, INC. (EXEL).
2 reported transactions and 0 derivative rows are listed below.
Accepted by SEC: 05 Aug 2022, 21:43.

Change

Previous filing in this sequence was filed on 01 Jun 2022.
Current net transaction value: -$154,234.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

EXEL transaction

Common Stock

Award

Transaction value: $0
Shares: +28,950
Change %: +12%
Price: $0.000000
Shares after: 268,768
Date: 03 Aug 2022
Ownership: Direct
Footnotes: F1, F2, F3, F4

EXEL transaction

Common Stock

Tax liability

Transaction value: $154,234
Shares: -7,177
Change %: -2.7%
Price: $21.49
Shares after: 261,591
Date: 03 Aug 2022
Ownership: Direct
Footnotes: F5

EXEL holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 23,539
Date: 03 Aug 2022
Ownership: By spouse

EXEL holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 10,648
Date: 03 Aug 2022
Ownership: By 401(k)
Footnotes: F6

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 6 footnotes

Footnote F1

Represents shares of Exelixis, Inc. common stock that will be 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.

Footnote F2

On September 11, 2020, the Reporting Person was granted a performance-based restricted stock unit award ("PSU") under the Exelixis, Inc. 2017 Equity Incentive Plan covering 57,900 shares of common stock (such shares, the "Target Shares"). The PSU generally vests as follows: (i) 50% of the Target Shares vest upon the Committee's certification of achievement of certain performance criteria as certified by the Compensation Committee (the "Committee"); and (ii) 50% of the Target Shares 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. In addition, the PSU provides for vesting of up to a maximum of 200% of the Target Shares depending on the timing and level of achievement of the performance criteria provided for under the PSU.

Footnote F3

On August 3, 2022, the Committee determined that certain performance criteria had been achieved, resulting in the Reporting Person's eligibility to vest up to 50% of the Target Shares subject to the PSU. Accordingly, the Committee's certification resulted in the immediate vesting of 25% of the Target Shares, and 25% of the Target Shares will vest on August 15, 2023, subject to the Reporting Person's continuous service through that date. The Reporting Person remains eligible for additional vesting depending the level and timing of achievement of the performance criteria through December 31, 2024.

Footnote F4

Includes 166,341 shares of Exelixis, Inc. common stock that will be issued to the Reporting Person upon vesting of restricted stock units.

Footnote F5

Shares withheld by Exelixis, Inc. to satisfy taxes payable in connection with the vesting of restricted stock units earned on August 3, 2022.

Footnote F6

Represents shares of Exelixis, Inc. common stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of August 3, 2022.