Amy C. Peterson - May 15, 2025 Form 4 Insider Report for EXELIXIS, INC. (EXEL)

Role: EVP Prod Dev & Med Aff & CMO
Signature: /s/ Nina Ayer, Attorney in Fact
Stock symbol: EXEL
Transactions as of: May 15, 2025
Transactions value $: -$2,809,854
Form type: 4
Date filed: 5/16/2025, 08:57 PM
Previous filing: Mar 31, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Peterson Amy C.	EVP Prod Dev & Med Aff & CMO	1851 HARBOR BAY PARKWAY, ALAMEDA	/s/ Nina Ayer, Attorney in Fact	2025-05-16	0001682735

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EXEL	Common Stock	Tax liability	-$371K	-8.3K	-1.64%	$44.65	498K	May 15, 2025	Direct	F1, F2
transaction	EXEL	Common Stock	Options Exercise	$870K	+40K	+8.03%	$21.75	538K	May 16, 2025	Direct	F2
transaction	EXEL	Common Stock	Sale	-$3.31M	-72.8K	-13.52%	$45.47	465K	May 16, 2025	Direct	F2, F3

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	-40K	-25%	$0.00	120K	May 16, 2025	Common Stock	40K	$21.75	Direct	F4

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

Explanation of Responses:

Id	Content
F1	Shares withheld by Exelixis, Inc. to satisfy taxes payable in connection with the vesting of restricted stock units ("RSUs") awarded February 23, 2024.
F2	Includes 453,166 shares of Exelixis, Inc. common stock ("Common Stock") that will be issued to the Reporting Person upon vesting of RSUs and performance-based restricted stock units ("PSUs"). Each RSU is the economic equivalent of one share of Common Stock and each PSU represents a contingent right to receive one share of Common Stock.
F3	Represents the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $45.08 to $46.44. 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	The option, representing the right to purchase a total of 160,000 shares of Common Stock, 40,000 shares became exercisable on August 24, 2024 and the remainder will become fully exercisable on August 24, 2027.