Exelixis (EXEL) director nets 30,250-share sale and option exercise

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(Negative)

Form Type

Rhea-AI Filing Summary

Exelixis, Inc. director Bob Oliver reported mixed activity in company stock. On February 13, 2026, he sold 9,088 shares of common stock in an open-market transaction at $43.61 per share and separately sold 21,162 shares at a weighted average price of $43.90 per share, with individual trades between $43.90 and $43.96 as noted in a footnote.

On the same date, he exercised an option for 9,088 shares of common stock, recorded as both a derivative exercise and an acquisition of common shares at an exercise price of $19.28 per share. A footnote states this option originally covered 36,353 shares and became fully exercisable on May 31, 2023. Another footnote notes 18,900 restricted stock units that will convert into common shares upon vesting.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 4 txns

Insider Oliver Bob

Role Director

Sold 30,250 shs ($1.33M)

Approx. gross sale proceeds $1.33M

Approx. exercise cost $175K

Type	Security	Shares	Price	Value
Exercise	Option (right to buy)	9,088	$0.00	$0.00
Exercise	Common Stock	9,088	$19.28	$175K
Sale	Common Stock	9,088	$43.61	$396K
Sale	Common Stock	21,162	$43.90	$929K

Holdings After Transaction: Option (right to buy) — 12,118 shares (Direct); Common Stock — 21,120 shares (Direct)

Footnotes (3)

F1. Includes 18,900 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 the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $43.90 to $43.96. 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 2 to this Form 4.
F3. The option, representing the right to purchase a total of 36,353 shares of Common Stock, became fully exercisable on May 31, 2023.

FAQ

What did Exelixis (EXEL) director Bob Oliver do in this Form 4?

Bob Oliver reported both sales and an option exercise in Exelixis common stock. He sold shares in two open-market transactions and exercised a stock option that delivered additional common shares on the same date.

How many Exelixis (EXEL) shares did Bob Oliver sell and at what prices?

He sold 9,088 Exelixis common shares at $43.61 per share and 21,162 shares at a weighted average price of $43.90, with individual trades between $43.90 and $43.96, as described in the filing footnote.

What option did Bob Oliver exercise in Exelixis (EXEL) stock?

He exercised an option covering 9,088 shares of Exelixis common stock at an exercise price of $19.28 per share. A footnote explains this option originally represented the right to purchase 36,353 shares and became fully exercisable on May 31, 2023.

Is Bob Oliver’s Exelixis (EXEL) transaction an open-market sale?

Yes. The Form 4 describes two transactions coded “S” as sales of Exelixis common stock in the open market. One block was sold at $43.61, and another at a weighted average price of $43.90 per share, within a narrow price range.

Does Bob Oliver have additional Exelixis (EXEL) equity through restricted stock units?

Yes. A footnote states 18,900 shares of Exelixis common stock will be issued to him upon vesting of restricted stock units. Each restricted stock unit represents the economic equivalent of one share of common stock when it converts.

What does the Form 4 say about the exercisability of Bob Oliver’s Exelixis option?

The filing notes that the option, covering 36,353 Exelixis common shares, became fully exercisable on May 31, 2023. The reported February 13, 2026 transaction reflects the exercise of 9,088 of those option shares into common stock.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 02/18/2026 - 08:48 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

Oliver Bob

(Last)

(First)

(Middle)

C/O EXELIXIS, INC.

1851 HARBOR BAY PARKWAY

(Street)

ALAMEDA

94502

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
EXELIXIS, INC. [ EXEL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/13/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/13/2026		M		9,088	A	$19.28	51,370⁽¹⁾	D
Common Stock	02/13/2026		S		9,088	D	$43.61	42,282⁽¹⁾	D
Common Stock	02/13/2026		S		21,162	D	$43.9⁽²⁾	21,120⁽¹⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Option (right to buy)	$19.28	02/13/2026		M			9,088	05/31/2023⁽³⁾	05/30/2030	Common Stock	9,088	$0	12,118	D

Explanation of Responses:

1. Includes 18,900 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.

2. Represents the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $43.90 to $43.96. 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 2 to this Form 4.

3. The option, representing the right to purchase a total of 36,353 shares of Common Stock, became fully exercisable on May 31, 2023.

Remarks:

	/s/ Nina Ayer, Attorney in Fact	02/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR