Brenda Hefti - 15 Feb 2026 Form 4 Insider Report for EXELIXIS, INC. (EXEL)

Role
SVP and General Counsel
Signature
/s/ Nina Ayer, Attorney in Fact
Issuer symbol
EXEL
Transactions as of
15 Feb 2026
Net transactions value
-$1,060,108
Form type
4
Filing time
18 Feb 2026, 20:48:49 UTC
Previous filing
05 Dec 2025
Next filing
02 Mar 2026
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Hefti Brenda SVP and General Counsel 1851 HARBOR BAY PARKWAY, ALAMEDA /s/ Nina Ayer, Attorney in Fact 18 Feb 2026 0002097579

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EXEL Common Stock Tax liability $238,486 -5,430 -4.5% $43.92 115,181 15 Feb 2026 Direct F1, F2
transaction EXEL Common Stock Sale $821,623 -18,669 -16% $44.01 96,512 18 Feb 2026 Direct F2, F3, F4
holding EXEL Common Stock 5,527 15 Feb 2026 By 401(k) F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Shares withheld by Exelixis, Inc. to satisfy taxes payable in connection with the vesting of performance-based restricted stock units awarded on March 4, 2022, for which the Compensation Committee certified that Exelixis, Inc. had achieved certain performance criteria on January 16, 2025.
F2 Includes 95,956 shares of Exelixis, Inc. common stock ("Common Stock") that will be issued to the Reporting Person upon vesting of restricted stock units ("RSUs") and PSUs granted to the Reporting Person on March 31, 2025 ("One-Time Award PSUs"). Each RSU is the economic equivalent of one share of Common Stock and each One-Time Award PSU represents a contingent right to receive one share of Common Stock.
F3 The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 19, 2025.
F4 Represents the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $43.32 to $44.49. 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 4 to this Form 4.
F5 Represents shares of Common Stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of February 13, 2026.