Exelixis (EXEL) EVP awarded 52,018 RSUs vesting annually from May 2027

Rhea-AI Filing Summary

Aftab Dana reported acquisition or exercise transactions in this Form 4 filing.

EXELIXIS, INC. executive vice president of research and development Dana Aftab reported an equity compensation grant in the form of restricted stock units (RSUs). The award covers 52,018 shares of common stock, granted under the company’s 2017 Equity Incentive Plan at no cash cost.

These RSUs will vest as to one quarter of the original grant on May 15, 2027, and one quarter on each following May 15 until fully vested. Following this grant, Aftab’s directly held common stock position, including previously granted RSUs and performance-based RSUs, totals 668,124 shares, of which 466,061 shares relate to unvested RSUs and a prior performance-based award. In addition, 5,835 shares are held indirectly through the Exelixis 401(k) Plan as of a statement dated February 26, 2026.

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)
02/26/2026

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	02/26/2026(1)		A		52,018(1)	A	$0	668,124(2)	D
Common Stock								5,835(3)	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. Represents shares of Exelixis, Inc. common stock ("Common Stock") that will be issued to the Reporting Person upon the vesting of restricted stock units ("RSUs"). The RSUs were granted to the Reporting Person on the Transaction Date pursuant to the Exelixis, Inc. 2017 Equity Incentive Plan. The RSUs will vest as to 1/4th of the original number of shares subject to the RSU award on May 15, 2027 and thereafter as to 1/4th of the original number of shares subject to the RSU award on each May 15th until fully vested.

2. Includes 466,061 shares of Common Stock that will be issued to the Reporting Person upon vesting of RSUs and the performance-based restricted stock unit award 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.

3. Represents shares of Common Stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of February 26, 2026.

Remarks:

	/s/ Nina Ayer, Attorney in Fact	03/02/2026
	** 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).
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FAQ

What did EXEL executive Dana Aftab report on this Form 4 filing?

Dana Aftab reported receiving a grant of 52,018 restricted stock units in Exelixis common stock. The RSUs were issued under the 2017 Equity Incentive Plan and represent future shares that will be delivered as they vest over time, subject to continued service.

How do the 52,018 Exelixis (EXEL) RSUs for Dana Aftab vest?

The 52,018 Exelixis RSUs vest in four equal annual installments starting May 15, 2027. One quarter of the original RSU amount vests on that date, with an additional quarter vesting on each subsequent May 15 until the grant is fully vested.

What is Dana Aftab’s total reported Exelixis (EXEL) common stock after the RSU grant?

After the RSU grant, Dana Aftab reports 668,124 shares of Exelixis common stock held directly. This total includes previously granted RSUs and performance-based restricted stock units, some of which will convert into shares only upon future vesting events and performance conditions.

What are the 466,061 Exelixis (EXEL) shares mentioned in the Form 4 footnotes?

The 466,061 Exelixis shares represent stock to be issued upon vesting of RSUs and a performance-based restricted stock unit award granted March 31, 2025. Each RSU and performance-based unit corresponds economically to one share of Exelixis common stock when vesting requirements are satisfied.

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

Dana Aftab has 5,835 shares of Exelixis common stock credited under the Exelixis 401(k) Plan. This indirect ownership amount is based on a plan statement dated February 26, 2026, and is reported separately from directly held and award-based equity positions.

What role does Dana Aftab hold at Exelixis (EXEL) related to this equity award?

Dana Aftab serves as executive vice president of research and development at Exelixis. The reported RSU grant and existing equity awards reflect compensation associated with this leadership position, aligning a portion of total remuneration with the company’s common stock performance over time.