Exelixis (NASDAQ: EXEL) CEO granted RSUs, gifts 100K shares

Rhea-AI Filing Summary

EXELIXIS, INC. President and CEO Michael Morrissey reported both an equity award and a charitable gift of company stock. On February 26, 2026, he was granted 160,437 restricted stock units (RSUs) under the Exelixis, Inc. 2017 Equity Incentive Plan at no cash cost.

The RSUs will vest as to one-quarter of the original shares on May 15, 2027 and then one-quarter on each May 15 thereafter until fully vested. Following this grant, 1,614,552 shares of common stock are scheduled to be issued to him upon vesting of RSUs and a performance-based restricted stock unit award granted on March 31, 2025.

Separately, on February 24, 2026, shares held by the Morrissey Family Living Trust were used to make a bona fide gift of 100,278 shares of Exelixis common stock to the Bombora Rise Foundation. In addition, 17,728 shares are held for his benefit under the Exelixis, Inc. 401(k) Plan as of 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

OMB APPROVAL

OMB Number:			3235-0287
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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^*

MORRISSEY MICHAEL

(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
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
02/24/2026

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	02/24/2026		G(1)		100,278	D	$0	1,989,956(2)	I	By Trust
Common Stock	02/26/2026(3)		A		160,437(3)	A	$0	1,614,552(4)	D
Common Stock								17,728(5)	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. On February 24, 2026, the Reporting Person gifted 100,278 shares of Exelixis, Inc. common stock ("Common Stock") to the Bombora Rise Foundation.

2. Shares held by Michael M. Morrissey and Meghan D. Morrissey, Trustees of the Morrissey Family Living Trust dated July 21, 1994, as amended.

3. Represents shares of 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.

4. Includes 1,614,552 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.

5. 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 insider transactions did EXEL CEO Michael Morrissey report on this Form 4?

Michael Morrissey reported an equity award and a charitable stock transfer. He received 160,437 restricted stock units and, through a family trust, made a bona fide gift of 100,278 Exelixis common shares to the Bombora Rise Foundation.

How many Exelixis (EXEL) RSUs were granted to the CEO and how do they vest?

He was granted 160,437 restricted stock units. These RSUs vest 25% on May 15, 2027, with additional 25% installments vesting on each May 15 thereafter until the full original award has vested into common shares.

What charitable gift of Exelixis (EXEL) stock was disclosed in this Form 4?

On February 24, 2026, 100,278 shares of Exelixis common stock held by the Morrissey Family Living Trust were gifted to the Bombora Rise Foundation. The transaction is reported as a bona fide gift rather than an open-market sale.

How many Exelixis (EXEL) shares are tied to Michael Morrissey’s equity awards after these transactions?

After the reported grant, 1,614,552 Exelixis common shares are scheduled to be issued to Michael Morrissey upon vesting of restricted stock units and a performance-based restricted stock unit award that was granted to him on March 31, 2025.

What Exelixis (EXEL) holdings are reported for Michael Morrissey under the 401(k) Plan?

The filing reports 17,728 shares of Exelixis common stock under the Exelixis, Inc. 401(k) Plan. This amount comes from a plan statement dated as of February 26, 2026 and reflects shares held in that retirement plan.

Are the reported transactions in EXEL stock open-market buys or sells by the CEO?

No, the reported items are an RSU equity grant and a bona fide gift. The RSUs are a stock-based compensation award, and the 100,278 shares were transferred as a charitable gift rather than through an open-market purchase or sale.