Michael Morrissey - 28 Aug 2023 Form 4 Insider Report for EXELIXIS, INC. (EXEL)

Role
President and CEO, Director
Signature
/s/ Nina Ayer, Attorney in Fact
Issuer symbol
EXEL
Transactions as of
28 Aug 2023
Net transactions value
-$1,226,218
Form type
4
Filing time
30 Aug 2023, 21:48:01 UTC
Previous filing
17 Aug 2023
Next filing
05 Sep 2023
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 $5,511,600 +360,000 +61% $15.31 945,496 28 Aug 2023 Direct F1
transaction EXEL Common Stock Tax liability $6,737,818 -303,779 -32% $22.18 641,717 28 Aug 2023 Direct F1, F2
holding EXEL Common Stock 1,340,320 28 Aug 2023 By Trust F3
holding EXEL Common Stock 17,728 28 Aug 2023 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 -360,000 -100% $0.000000* 0 28 Aug 2023 Common Stock 360,000 $15.31 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 515,997 shares of Exelixis, Inc. common stock ("Common Stock") that will be issued to the Reporting Person upon vesting of restricted stock units.
F2 Represents a "net exercise" of an outstanding stock option. The Reporting Person received 56,221 shares of Common Stock on the net exercise of a stock option to purchase 360,000 shares of Common Stock. The Issuer withheld 303,779 shares of Common Stock underlying the stock option for payment of the exercise price and tax withholding using a stock price on August 28, 2023 of $22.18.
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 Common Stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of August 27, 2023.
F5 The option, representing the right to purchase a total of 360,000 shares of Common Stock, became fully exercisable on September 26, 2020.