Peter Lamb - Dec 15, 2022 Form 4 Insider Report for EXELIXIS, INC. (EXEL)

Role: EVP, Scientific Strategy & CSO
Signature: /s/ Nina Ayer, Attorney in Fact
Stock symbol: EXEL
Transactions as of: Dec 15, 2022
Transactions value $: -$233,600
Form type: 4
Date filed: 12/16/2022, 07:09 PM
Previous filing: Nov 17, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EXEL	Common Stock	Options Exercise	$84K	+20K	+4.87%	$4.20	431K	Dec 15, 2022	Direct	F1
transaction	EXEL	Common Stock	Sale	-$318K	-20K	-4.64%	$15.88	411K	Dec 15, 2022	Direct	F2, F3
holding	EXEL	Common Stock						17.1K	Dec 15, 2022	By 401(k)	F4

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	-20K	-50%	$0.00	20K	Dec 15, 2022	Common Stock	20K	$4.20	Direct	F5

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

Explanation of Responses:

Id	Content
F1	Includes 120,383 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 November 10, 2022.
F3	Represents the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $15.71 to $16.07. 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	Represents shares of Exelixis, Inc. common stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of December 14, 2022.
F5	The option, representing the right to purchase a total of 40,000 shares of Exelixis, Inc. common stock, became fully exercisable on February 11, 2020.