Michael Morrissey - Oct 1, 2024 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
Oct 1, 2024
Transactions value $
-$478,563
Form type
4
Date filed
10/3/2024, 09:22 PM
Previous filing
May 17, 2024
Next filing
Nov 1, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EXEL Common Stock Options Exercise $11.7M +480K +49.77% $24.41 1.44M Oct 1, 2024 Direct F1
transaction EXEL Common Stock Tax liability -$12.2M -464K -32.1% $26.30 981K Oct 1, 2024 Direct F1, F2
transaction EXEL Common Stock Gift $0 -16.3K -1.66% $0.00 964K Oct 3, 2024 Direct F1, F3
transaction EXEL Common Stock Gift $0 +16.3K +1.13% $0.00 1.45M Oct 3, 2024 By Trust F3, F4
holding EXEL Common Stock 17.7K Oct 1, 2024 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 -480K -100% $0.00 0 Oct 1, 2024 Common Stock 480K $24.41 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 830,957 shares of Exelixis, Inc. common stock ("Common Stock") that will be issued to the Reporting Person upon vesting of restricted stock units ("RSUs"). Each RSU is the economic equivalent of one share of Common Stock.
F2 Represents a "net exercise" of an outstanding stock option to purchase 480,000 shares, and pursuant to which the Reporting Person received 16,298 shares, of Common Stock. The Issuer withheld 463,702 shares of Common Stock underlying the stock option for payment of the exercise price and tax withholding using the closing stock price on October 1, 2024 of $26.30.
F3 On October 3, 2024, the Reporting Person gifted 16,298 shares of Common Stock to Michael M. Morrissey and Meghan D. Morrissey, Trustees of the Morrissey Family Trust dated July 21, 1994, as amended.
F4 Shares held by Michael M. Morrissey and Meghan D. Morrissey, Trustees of the Morrissey Family Living Trust dated July 21, 1994, as amended.
F5 Represents shares of Common Stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of October 1, 2024.
F6 The option, representing the right to purchase a total of 480,000 shares of Common Stock, became fully exercisable on October 3, 2021.