EXEL director exercises 5,784 options, sells 24,622 shares, Form 4

Exelixis (EXEL) director reported insider activity on 11/11/2025.

Rhea-AI Filing Summary

Exelixis (EXEL) director reported insider activity on 11/11/2025. The reporting person exercised 5,784 options at $23.24 per share, then sold 5,784 shares at $42.03 and 18,838 shares at a $41.9 weighted average (sales ranged from $41.81 to $42.02).

Following these transactions, the filing shows 21,380 shares beneficially owned, which footnote (1) states includes shares to be issued upon vesting of RSUs. The option exercised was part of a grant that became fully exercisable on January 5, 2024 and expires January 4, 2031. After the reported transactions, 16,710 derivative securities (options) remain beneficially owned.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 4 txns

Insider Beckerle Mary C

Role Director

Sold 24,622 shs ($1.03M)

Approx. gross sale proceeds $1.03M

Approx. exercise cost $134K

Type	Security	Shares	Price	Value
Exercise	Option (right to buy)	5,784	$0.00	$0.00
Exercise	Common Stock	5,784	$23.24	$134K
Sale	Common Stock	5,784	$42.03	$243K
Sale	Common Stock	18,838	$41.90	$789K

Holdings After Transaction: Option (right to buy) — 16,710 contracts (Direct); Common Stock — 21,380 shares (Direct)

Footnotes (3)

1. F1. Includes 21,380 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. F2. Represents the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $41.81 to $42.02. 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. F3. The option, representing the right to purchase a total of 30,848 shares of Common Stock, became fully exercisable on January 5, 2024.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did EXEL’s director report on Form 4?

They exercised 5,784 options at $23.24 and sold 5,784 shares at $42.03 and 18,838 shares at a weighted average of $41.9.

How many EXEL shares were sold and at what prices?

Sales were 5,784 shares at $42.03 and 18,838 shares at a weighted average of $41.9 (range $41.81–$42.02).

How many EXEL shares are beneficially owned after the transactions?

The filing shows 21,380 shares beneficially owned; footnote (1) notes this includes shares issuable upon vesting of RSUs.

What options remain after the exercise?

The report shows 16,710 derivative securities (options) beneficially owned after the transactions.

When did the exercised option become fully exercisable and when does it expire?

It became fully exercisable on January 5, 2024 and expires on January 4, 2031.

What is the date of the reported EXEL transactions?

The transactions occurred on 11/11/2025.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 11/13/2025 - 07:12 PM Learn about SEC filing dates

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^*

Beckerle Mary C

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/11/2025

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	11/11/2025		M		5,784	A	$23.24	46,002(1)	D
Common Stock	11/11/2025		S		5,784	D	$42.03	40,218(1)	D
Common Stock	11/11/2025		S		18,838	D	$41.9(2)	21,380(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Option (right to buy)	$23.24	11/11/2025		M			5,784	01/05/2024(3)	01/04/2031	Common Stock	5,784	$0	16,710	D

Explanation of Responses:

1. Includes 21,380 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 $41.81 to $42.02. 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 30,848 shares of Common Stock, became fully exercisable on January 5, 2024.

Remarks:

	/s/ Nina Ayer, Attorney in Fact	11/13/2025
	** 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.