Exelixis CEO details gifts and tax share moves
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Form Type
4
Rhea-AI Filing Summary
EXELIXIS, INC. President and CEO Michael Morrissey reported non-market share dispositions consisting of tax withholding and bona fide gifts of common stock. On May 15, 2026, 128,497 shares were withheld at $51.10 per share to satisfy taxes tied to the vesting of restricted stock units awarded between 2022 and 2025.
On May 18, 2026, he made two bona fide gifts of 124,047 shares each, one from direct holdings and one involving the Morrissey Family Living Trust, for a total of 248,094 gifted shares at no consideration. After these transactions, filings show 1,362,008 shares associated with RSUs and performance-based awards, 2,004,327 shares held by the family trust, and 17,728 shares in the company 401(k) plan.
Insider Trade Summary
248,094 shares gifted
Gift
4 txns
Insider
MORRISSEY MICHAEL
Role
President and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Stock | 124,047 | $0.00 | $0.00 |
| Gift | Common Stock | 124,047 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 128,497 | $51.10 | $6.57M |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 1,362,008 shares (Direct);
Common Stock — 2,004,327 shares (Indirect, By Trust);
Common Stock — 17,728 shares (Indirect, By 401(k))
Footnotes (5)
- F1. Shares withheld by Exelixis, Inc. to satisfy taxes payable in connection with the vesting of restricted stock units ("RSUs") awarded on March 4, 2022, April 3, 2023, February 23, 2024, and February 26, 2025.
- F2. Includes 1,362,008 shares of Exelixis, Inc. common stock ("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.
- F3. On May 18, 2026, the Reporting Person gifted 124,047 shares of Common Stock to Michael M. Morrissey and Meghan D. Morrissey, Trustees of the Morrissey Family Living Trust dated July 21, 1994, as amended.
- F4. Shares of Common Stock held by Michael M. Morrissey and Meghan D. Morrissey, Trustees of the Morrissey Family Living Trust dated July 21, 1994, as amended.
- F5. Represents shares of Common Stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of May 14, 2026.
Key Figures
Gifted shares: 248,094 shares
Individual gift size: 124,047 shares
Tax-withheld shares: 128,497 shares
+4 more
7 metrics
Gifted shares
248,094 shares
Total bona fide gifts of common stock on May 18, 2026
Individual gift size
124,047 shares
Each of two bona fide gift transactions
Tax-withheld shares
128,497 shares
Shares withheld to cover RSU-related taxes on May 15, 2026
Tax-withholding price
$51.10 per share
Value used for shares withheld for RSU tax obligations
Trust holdings after gift
2,004,327 shares
Common stock held by Morrissey Family Living Trust
RSU and PSU-related shares
1,362,008 shares
Shares to be issued upon vesting of RSUs and One-Time Award PSUs
401(k) plan shares
17,728 shares
Exelixis common stock under the company 401(k) Plan as of May 14, 2026
Key Terms
bona fide gift, restricted stock units ("RSUs"), performance-based restricted stock unit award, One-Time Award PSUs, +1 more
5 terms
bona fide gift financial
"transaction_code_description": "Bona fide gift""
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
restricted stock units ("RSUs") financial
"vesting of restricted stock units ("RSUs") awarded on March 4, 2022"
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
performance-based restricted stock unit award financial
"the performance-based restricted stock unit award granted to the Reporting Person on March 31, 2025"
A performance-based restricted stock unit award is a promise to give company shares to an employee or executive only if the business hits specific targets over a set period. Think of it as a conditional prize that vests like a savings plan: if agreed goals (such as revenue, profit, or stock performance) are met, the recipient receives the shares; if not, they get nothing. Investors pay attention because these awards align management incentives with company results and can affect share count, future earnings and executive behavior.
One-Time Award PSUs financial
"One-Time Award PSUs". Each RSU is the economic equivalent of one share"
401(k) Plan financial
"Represents shares of Common Stock under the Exelixis, Inc. 401(k) Plan"
A 401(k) plan is a workplace retirement account that lets employees set aside part of their pay into a tax-advantaged savings pot, often with employers adding matching contributions — like a workplace piggy bank for future income. It matters to investors because the amount people save and how employers fund these plans influence consumer spending, corporate payroll costs and the flow of money into financial markets, which can affect stock prices and company valuations.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did EXEL (Exelixis, Inc.) report for Michael Morrissey?
The filing shows Michael Morrissey reported tax-related share withholding and bona fide gifts of Exelixis common stock. These were non-market dispositions, not open-market sales or purchases, and mainly reflect tax obligations and estate or family planning transfers rather than trading activity.
AI-generated analysis. How Rhea-AI works. Not financial advice.
