Michael Morrissey - Jan 24, 2023 Form 4 Insider Report for EXELIXIS, INC. (EXEL)

Role
President and CEO, Director
Signature
/s/ Nina Ayer, Attorney in Fact
Stock symbol
EXEL
Transactions as of
Jan 24, 2023
Transactions value $
-$656,424
Form type
4
Date filed
1/26/2023, 07:59 PM
Previous filing
Nov 17, 2022
Next filing
Feb 1, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EXEL Common Stock Gift $0 -106K -23.73% $0.00 341K Dec 7, 2022 Direct F1, F2
transaction EXEL Common Stock Gift $0 +106K +8.86% $0.00 1.3M Dec 7, 2022 By Trust F1, F3
transaction EXEL Common Stock Options Exercise $420K +100K +29.36% $4.20* 441K Jan 24, 2023 Direct
transaction EXEL Common Stock Tax liability -$1.08M -62K -14.07% $17.36 379K Jan 24, 2023 Direct F4
holding EXEL Common Stock 17.7K Jan 24, 2023 By 401(k) F5

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 -100K -100% $0.00* 0 Jan 24, 2023 Common Stock 100K $4.20 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On December 7, 2022, the Reporting Person gifted 106,010 shares of Exelixis, Inc. common stock ("Common Stock") to Michael M. Morrissey and Meghan D. Morrissey, Trustees of the Morrissey Family Trust dated July 21, 1994, as amended.
F2 Includes 340,655 shares of 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 a "net exercise" of an outstanding stock option. The Reporting Person received 37,994 shares of Common Stock on the net exercise of a stock option to purchase 100,000 shares of Common Stock. The Issuer withheld 62,006 shares of Common Stock underlying the stock option for payment of the exercise price and tax withholding using a stock price on January 24, 2023 of $17.36.
F5 Represents shares of Common Stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of January 24, 2023.
F6 The option, representing the right to purchase a total of 150,000 shares of Common Stock, became fully exercisable on February 11, 2020.