Gisela Schwab - May 13, 2021 Form 4 Insider Report for EXELIXIS, INC. (EXEL)

Role: Pres, Prod Dev & Med Aff & CMO
Signature: /s/ Jennifer Drimmer Rokovich, Attorney in Fact
Stock symbol: EXEL
Transactions as of: May 13, 2021
Transactions value $: -$2,348,000
Form type: 4
Date filed: 5/14/2021, 08:35 PM
Next filing: Jul 2, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EXEL	Common Stock	Options Exercise	$190K	+100K	+16.28%	$1.90^*	714K	May 13, 2021	Direct	F1
transaction	EXEL	Common Stock	Sale	-$2.54M	-100K	-14%	$25.38	614K	May 13, 2021	Direct	F2, F3
holding	EXEL	Common Stock						14.9K	May 13, 2021	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	-100K	-40%	$0.00	150K	May 13, 2021	Common Stock	100K	$1.90	Direct	F5

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

Explanation of Responses:

Id	Content
F1	Includes 243,968 shares of Exelixis, Inc. common stock that will be issued to the Reporting Person upon vesting of restricted stock units and 596 shares of common stock acquired on April 30, 2021, pursuant to the Exelixis, Inc. 2000 Employee Stock Purchase Plan.
F2	The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 25, 2021.
F3	Represents the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $25.15 to $25.65. 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	Represents shares of Exelixis, Inc. common stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of May 13, 2021.
F5	The option, representing the right to purchase a total of 250,000 shares of Exelixis, Inc. common stock, became fully exercisable on April 28, 2016.