[Form 4] EXELIXIS, INC. Insider Trading Activity

Rhea-AI Filing Summary

Exelixis, Inc. executive reports stock sale and updated holdings. The EVP of Research and Development sold 48,383 shares of Exelixis common stock on 11/11/2025 at a weighted average price of $42.50 per share, in multiple trades between $42.50 and $42.58. After this transaction, the executive beneficially owns 664,778 shares, including 431,306 shares that will be issued upon vesting of restricted stock units and 5,835 shares held through the Exelixis 401(k) Plan as of November 10, 2025. The filing is made by a single reporting person in the capacity of officer.

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
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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)
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		S		48,383	D	$42.5(1)	664,778(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 the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $42.50 to $42.58. 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 1 to this Form 4.

2. Includes 431,306 shares of Exelixis, Inc. common stock ("Common Stock") that will be issued to the Reporting Person upon vesting of restricted stock units ("RSU"). Each RSU is the economic equivalent of 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 November 10, 2025.

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.

FAQ

What insider transaction did EXEL's EVP report on this Form 4?

On this Form 4, Exelixis, Inc.'s EVP of Research and Development reported selling 48,383 shares of Exelixis common stock on 11/11/2025.

At what price were the EXEL shares sold by the executive?

The shares were sold at a weighted average price of $42.50 per share, in multiple transactions at prices ranging from $42.50 to $42.58.

How many EXEL shares does the reporting person own after the transaction?

Following the reported sale, the executive beneficially owns 664,778 shares of Exelixis common stock.

How many EXEL shares are tied to restricted stock units for the executive?

The beneficial ownership total includes 431,306 shares that will be issued upon vesting of restricted stock units (RSUs), each RSU being equivalent to one share of common stock.

What EXEL shares are held through the 401(k) Plan?

The filing notes 5,835 shares of Exelixis common stock held indirectly under the Exelixis, Inc. 401(k) Plan, based on a plan statement dated November 10, 2025.

Is this EXEL Form 4 filed by more than one reporting person?

No. The Form 4 indicates it is filed by one reporting person, who is an officer of Exelixis serving as EVP, Research and Development.