Exelixis (EXEL) R&D EVP sells 29,873 shares at $44.35

Rhea-AI Filing Summary

EXELIXIS, INC. executive vice president of research and development Dana Aftab reported an open-market sale of 29,873 shares of common stock on February 19, 2026 at a price of $44.35 per share. After this sale, Aftab directly holds 664,024 shares of Exelixis common stock.

In addition, Aftab has an indirect holding of 5,835 shares through the Exelixis 401(k) Plan based on a statement dated February 18, 2026. Footnotes also state that 414,043 shares are scheduled to be issued upon vesting of previously granted RSUs and performance stock units.

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

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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^*

Aftab Dana

(Last) (First) (Middle)

C/O EXELIXIS, INC.

1851 HARBOR BAY PARKWAY

(Street)

ALAMEDA CA 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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Research and Development

3. Date of Earliest Transaction (Month/Day/Year)
02/19/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/19/2026		S		29,873	D	$44.35	664,024(1)	D
Common Stock								5,835(2)	I	By 401(k)

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Includes 414,043 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.

2. Represents shares of Common Stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of February 18, 2026.

Remarks:

	/s/ Nina Ayer, Attorney in Fact	02/23/2026
	** 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.

FAQ

What insider transaction did EXEL executive Dana Aftab report?

Dana Aftab reported an open-market sale of 29,873 shares of Exelixis common stock on February 19, 2026 at $44.35 per share. This Form 4 filing reflects a net reduction in directly held shares.

How many EXEL shares does Dana Aftab hold after the reported sale?

After the reported sale, Dana Aftab directly holds 664,024 shares of Exelixis common stock. The filing also shows 5,835 additional shares held indirectly through the Exelixis 401(k) Plan as of February 18, 2026.

What was the sale price for Dana Aftab’s EXEL shares?

The reported open-market sale was executed at $44.35 per share. This price applies to the 29,873 shares of Exelixis common stock sold on February 19, 2026, as disclosed in the Form 4 transaction details.

Does Dana Aftab have any EXEL restricted stock or performance units outstanding?

Yes. The footnotes state that 414,043 shares of Exelixis common stock will be issued upon vesting of RSUs and One-Time Award PSUs granted on March 31, 2025, each representing the right to receive one share.

How many EXEL shares does Dana Aftab hold through the 401(k) plan?

The filing reports 5,835 shares of Exelixis common stock held under the Exelixis 401(k) Plan. This amount is based on a plan statement dated February 18, 2026 and is categorized as indirect ownership.