Exelixis (EXEL) CEO exercises options, withholds and gifts large share blocks
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
EXELIXIS, INC. President and CEO Michael Morrissey reported multiple equity transactions in company common stock. He exercised an option for 494,700 shares on February 13, 2026 at a stated exercise price of $21.31 per share, increasing his direct holdings.
To cover the option exercise price and related taxes, 369,606 shares were withheld at $43.92 per share, and a further 120,390 shares were withheld on February 15, 2026 to satisfy tax liabilities after performance-based restricted stock units vested. Morrissey also made bona fide gifts totaling 501,472 shares over February 17–18, 2026, transferring shares to the Morrissey Family Trust, which holds shares as trustees.
A footnote states that 1,454,115 shares of common stock will be issued upon vesting of previously granted RSUs and performance stock units, each representing the right to receive one share of common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
494,700 shares exercised/converted
Mixed
9 txns
Insider
MORRISSEY MICHAEL
Role
President and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Stock | 125,094 | $0.00 | -- |
| Gift | Common Stock | 125,094 | $0.00 | -- |
| Gift | Common Stock | 250,736 | $0.00 | -- |
| Gift | Common Stock | 250,736 | $0.00 | -- |
| Tax Withholding | Common Stock | 120,390 | $43.92 | $5.29M |
| Exercise | Option (right to buy) | 494,700 | $0.00 | -- |
| Exercise | Common Stock | 494,700 | $21.31 | $10.54M |
| Tax Withholding | Common Stock | 369,606 | $43.92 | $16.23M |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 1,454,115 shares (Direct);
Common Stock — 2,090,234 shares (Indirect, By Trust);
Option (right to buy) — 0 shares (Direct)
Footnotes (1)
- Includes 1,454,115 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. Represents a "net exercise" of an outstanding stock option to purchase 494,700 shares, and pursuant to which the Reporting Person received 125,094 shares of Common Stock. The Issuer withheld 369,606 shares of Common Stock underlying the stock option for payment of the exercise price and tax withholding using the closing stock price on January 13, 2026 of $43.92. 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. On February 17, 2026, the Reporting Person gifted 250,736 shares of Common Stock to Michael M. Morrissey and Meghan D. Morrissey, Trustees of the Morrissey Family Trust dated July 21, 1994, as amended. Shares held by Michael M. Morrissey and Meghan D. Morrissey, Trustees of the Morrissey Family Living Trust dated July 21, 1994, as amended. On February 18, 2026, the Reporting Person gifted 125,094 shares of Common Stock to Michael M. Morrissey and Meghan D. Morrissey, Trustees of the Morrissey Family Trust dated July 21, 1994, as amended. Represents shares of Common Stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of February 13, 2026. The option, representing the right to purchase a total of 494,700 shares of Common Stock, became fully exercisable on March 4, 2025.
FAQ
What insider transactions did EXEL (Exelixis) report for Michael Morrissey?
Michael Morrissey reported option exercises, tax-share withholdings, and gifts of Exelixis common stock. He exercised options for 494,700 shares, had shares withheld for taxes, and gifted 501,472 shares to a family trust over several days in February 2026.
What gifts of Exelixis (EXEL) stock did Michael Morrissey make to the family trust?
On February 17, 2026, Michael Morrissey gifted 250,736 shares of Exelixis common stock to the Morrissey Family Trust, and on February 18, 2026 he gifted another 125,094 shares. These transfers were reported as bona fide gifts held by the trust’s trustees.
How are Michael Morrissey’s indirect Exelixis (EXEL) holdings structured?
Some Exelixis shares are held indirectly for Michael Morrissey. The filing notes holdings by the Morrissey Family Living Trust and shares under the Exelixis 401(k) Plan, based on a plan statement dated February 13, 2026, reflecting retirement-plan and trust ownership structures.