Exelixis (EXEL) director receives option grant tied to Caligan funds
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
EXELIXIS, INC. director David Edward Johnson reported receiving an option grant covering 19,133 shares of common stock. The option has an exercise price of $50.03 per share, is exercisable immediately subject to repurchase provisions, and expires on May 26, 2033. It will vest in full on the first anniversary of the grant date, conditioned on Mr. Johnson’s continuous service. After this award, he holds options for 19,133 shares. Footnotes state the securities are deemed held for the benefit of Caligan Partners Master Fund LP and certain managed accounts of Caligan Partners LP, and may be transferred to those entities after vesting.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
JOHNSON DAVID EDWARD, Caligan Partners LP
Role
null | null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Option (right to buy) | 19,133 | $0.00 | -- |
Holdings After Transaction:
Option (right to buy) — 19,133 shares (Direct, null)
Footnotes (1)
- Option granted to David Johnson ("Mr. Johnson") pursuant to the Exelixis, Inc. 2017 Equity Incentive Plan. The option is exercisable immediately, subject to repurchase provisions, and will vest as to 100% of the shares subject to the option on the first anniversary of the date of grant, subject to Mr. Johnson's continuous service through such date. Mr. Johnson is deemed to hold the securities reported herein for the benefit of Caligan Partners Master Fund LP (the "Caligan Master Fund") and managed accounts to which Caligan Partners LP ("Caligan") serves as investment manager (the "Caligan Accounts", together with the Caligan Master Fund, the "Caligan Master Fund and Accounts"), and may, after vesting, if applicable, transfer the securities directly to the Caligan Master Fund and Accounts.
Key Figures
Option shares granted: 19,133 shares
Exercise price: $50.03 per share
Expiration date: May 26, 2033
+2 more
5 metrics
Option shares granted
19,133 shares
Option (right to buy) granted on May 27, 2026
Exercise price
$50.03 per share
Strike price of option grant
Expiration date
May 26, 2033
Option expiration
Underlying common shares
19,133 shares
Common stock underlying the option
Total options after grant
19,133 shares
Options beneficially owned following transaction
Key Terms
Equity Incentive Plan, repurchase provisions, vest, benefit of Caligan Partners Master Fund LP, +1 more
5 terms
Equity Incentive Plan financial
"Option granted to David Johnson pursuant to the Exelixis, Inc. 2017 Equity Incentive Plan."
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
repurchase provisions financial
"The option is exercisable immediately, subject to repurchase provisions, and will vest as to 100% of the shares"
vest financial
"and will vest as to 100% of the shares subject to the option on the first anniversary of the date of grant"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
benefit of Caligan Partners Master Fund LP financial
"Mr. Johnson is deemed to hold the securities reported herein for the benefit of Caligan Partners Master Fund LP"
managed accounts financial
"and managed accounts to which Caligan Partners LP serves as investment manager"
Managed accounts are collections of investments owned by an individual or institution but run day-to-day by a professional who buys, sells and allocates assets according to an agreed plan. They matter to investors because they provide tailored oversight, active risk control and potential tax efficiency—like hiring a personal chef to manage your diet—while fees and the manager’s skill directly affect returns.
FAQ
What did the EXEL director report on this Form 4 for EXELIXIS, INC. (EXEL)?
The Form 4 reports a grant of stock options to director David Edward Johnson for 19,133 shares at an exercise price of $50.03 per share. These options are part of Exelixis’ 2017 Equity Incentive Plan and represent compensation rather than an open-market share purchase or sale.
What are the key terms of David Johnson’s stock option grant at EXELIXIS, INC. (EXEL)?
David Johnson received options over 19,133 shares of common stock with a $50.03 exercise price, exercisable immediately subject to repurchase provisions. The award vests 100% on the first anniversary of the grant date, provided he remains in continuous service through that vesting date.
When do the new EXEL stock options granted to David Johnson vest and expire?
The options will vest as to 100% of the 19,133 underlying shares on the first anniversary of the grant date, assuming continuous service. They are immediately exercisable subject to repurchase provisions and will expire on May 26, 2033, giving a multi‑year window for potential exercise.