Exelixis: Farallon reports 4.9% ownership stake

The reporting persons stated that each ceased to be a beneficial owner of more than 5% of EXEL's shares on November 6, 2026.

Available on EDGAR 11/09/2026 - 07:11 PM EST Accepted by SEC EDGAR 11/09/2026 - 07:10 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

An amendment concerning EXEL reports that Farallon Capital Management, L.L.C. and the individual reporting persons Hannah E. Dunn, Joshua J. Dapice, Philip D. Dreyfuss, Varun N. Gehani, Nicolas Giauque, Avner A. Husen, David T. Kim, Michael G. Linn, Patrick (Cheng) Luo, Thomas G. Roberts Jr., Edric C. Saito, Daniel S. Short, Andrew J. M. Spokes, John R. Warren and Mark C. Wehrly each reported shared beneficial ownership of 12,017,906 EXEL common shares, or 4.9% of the class. The percentage is based on 244,010,895 shares outstanding as of October 19, 2026.

The amendment states that transactions in EXEL shares by the Farallon Funds in the past 60 days were all open-market transactions.

Filing Explained

The amendment reports that the reporting persons ceased to beneficially own more than 5% of EXEL on November 6, 2026, marking their exit from the ownership threshold this schedule tracks.

Key Figures

Shared beneficial ownership: 12,017,906 shares Ownership percentage: 4.9% Shares outstanding: 244,010,895 shares +1 more

4 metrics

Shared beneficial ownership 12,017,906 shares Reported by each reporting person

Ownership percentage 4.9% Percentage of the class reported by each reporting person

Shares outstanding 244,010,895 shares As of October 19, 2026

Ownership threshold More than 5% Each reporting person stated they ceased to be a beneficial owner above this threshold on November 6, 2026

Key Terms

Shared Voting Power, Shared Dispositive Power, open-market transactions

3 terms

Shared Voting Power regulatory

"Shared Voting Power 12,017,906.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

Shared Dispositive Power regulatory

"Shared Dispositive Power 12,017,906.00"

open-market transactions regulatory

"All of such transactions were open-market transactions."

Open-market transactions are purchases or sales of a company’s securities that take place on public exchanges rather than through private agreements. They matter to investors because these trades change the number of shares available, can move the stock price, and often signal management’s view of the company’s value—like a store restocking or clearing shelves, altering supply and the price shoppers see.

FAQ

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

How many EXEL shares did each reporting person report beneficially owning?

Each reporting person reported shared beneficial ownership of 12,017,906 shares, representing 4.9% of the class.

When did the reporting persons cease to own more than 5% of EXEL?

Each stated that they ceased to be a beneficial owner of more than 5% of EXEL shares on November 6, 2026.

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

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 9)

EXELIXIS, INC.

(Name of Issuer)

Common Stock, par value $0.001 per share (the "Shares")

(Title of Class of Securities)

30161Q104

(CUSIP Number)

Hannah E. Dunn
Farallon Capital Management, L.L.C., One Maritime Plaza, Suite 2100
San Francisco, CA, 94111
(415) 421-2132

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

11/06/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 30161Q104

1

Name of reporting person

Farallon Capital Management, L.L.C.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,017,906.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,017,906.00

11

Aggregate amount beneficially owned by each reporting person

12,017,906.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13D

CUSIP Number(s): 30161Q104

1

Name of reporting person

Dapice Joshua J.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,017,906.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,017,906.00

11

Aggregate amount beneficially owned by each reporting person

12,017,906.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 30161Q104

1

Name of reporting person

Dreyfuss, Philip D.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,017,906.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,017,906.00

11

Aggregate amount beneficially owned by each reporting person

12,017,906.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 30161Q104

1

Name of reporting person

Dunn Hannah E.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,017,906.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,017,906.00

11

Aggregate amount beneficially owned by each reporting person

12,017,906.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 30161Q104

1

Name of reporting person

Gehani, Varun N.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,017,906.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,017,906.00

11

Aggregate amount beneficially owned by each reporting person

12,017,906.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 30161Q104

1

Name of reporting person

Giauque, Nicolas

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

FRANCE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,017,906.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,017,906.00

11

Aggregate amount beneficially owned by each reporting person

12,017,906.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 30161Q104

1

Name of reporting person

Husen, Avner A.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,017,906.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,017,906.00

11

Aggregate amount beneficially owned by each reporting person

12,017,906.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 30161Q104

1

Name of reporting person

Kim, David T.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,017,906.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,017,906.00

11

Aggregate amount beneficially owned by each reporting person

12,017,906.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 30161Q104

1

Name of reporting person

Linn, Michael G.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,017,906.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,017,906.00

11

Aggregate amount beneficially owned by each reporting person

12,017,906.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 30161Q104

1

Name of reporting person

Luo Patrick (Cheng)

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CHINA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,017,906.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,017,906.00

11

Aggregate amount beneficially owned by each reporting person

12,017,906.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 30161Q104

1

Name of reporting person

Roberts, Jr., Thomas G.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,017,906.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,017,906.00

11

Aggregate amount beneficially owned by each reporting person

12,017,906.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 30161Q104

1

Name of reporting person

Saito Edric C.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,017,906.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,017,906.00

11

Aggregate amount beneficially owned by each reporting person

12,017,906.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 30161Q104

1

Name of reporting person

Short Daniel S.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,017,906.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,017,906.00

11

Aggregate amount beneficially owned by each reporting person

12,017,906.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 30161Q104

1

Name of reporting person

Spokes, Andrew J. M.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,017,906.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,017,906.00

11

Aggregate amount beneficially owned by each reporting person

12,017,906.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 30161Q104

1

Name of reporting person

Warren, John R.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,017,906.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,017,906.00

11

Aggregate amount beneficially owned by each reporting person

12,017,906.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 30161Q104

1

Name of reporting person

Wehrly, Mark C.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,017,906.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,017,906.00

11

Aggregate amount beneficially owned by each reporting person

12,017,906.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.001 per share (the "Shares")
(b)	Name of Issuer: EXELIXIS, INC.
(c)	Address of Issuer's Principal Executive Offices: 1851 Harbor Bay Parkway, Alameda, CALIFORNIA , 94502.
Item 5.	Interest in Securities of the Issuer
(a)	This Amendment No. 9 to Schedule 13D (this "Amendment") hereby amends and supplements Item 5(a) by deleting the first sentence thereof and replacing it with the following: "The information set forth in Rows 7 through 13 of the cover page hereto for each Reporting Person is incorporated herein by reference for each such Reporting Person. The percentage amount set forth in Row 13 for all cover pages filed herewith is calculated based upon 244,010,895 Shares outstanding as of October 19, 2026, as reported by the Issuer in its Form 10-Q filed with the Securities and Exchange Commission on October 29, 2026."
(c)	This Amendment hereby amends and restates Item 5(c) in its entirety, to read as follows: "The dates, number of Shares involved and the price per Share (excluding commissions) for all transactions in the Shares by the Farallon Funds in the past 60 days are set forth in Exhibit 1.D attached hereto and such information is incorporated herein by reference. All of such transactions were open-market transactions."
(e)	This Amendment hereby amends and restates Item 5(e) in its entirety, to read as follows: "Each of the Reporting Persons ceased to be the beneficial owner of more than five percent of the Shares on November 6, 2026."
Item 7.	Material to be Filed as Exhibits.
	This Amendment hereby amends and supplements Item 7 by adding the following thereto: "There is filed herewith as Exhibit 1.D the 60-day trading history referenced in Item 5(c)."

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Farallon Capital Management, L.L.C.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Managing Member
Date:	11/09/2026

Dapice Joshua J.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	11/09/2026

Dreyfuss, Philip D.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	11/09/2026

Dunn Hannah E.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn
Date:	11/09/2026

Gehani, Varun N.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	11/09/2026

Giauque, Nicolas

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	11/09/2026

Husen, Avner A.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	11/09/2026

Kim, David T.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	11/09/2026

Linn, Michael G.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	11/09/2026

Luo Patrick (Cheng)

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	11/09/2026

Roberts, Jr., Thomas G.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	11/09/2026

Saito Edric C.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	11/09/2026

Short Daniel S.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	11/09/2026

Spokes, Andrew J. M.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	11/09/2026

Warren, John R.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	11/09/2026

Wehrly, Mark C.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Attorney-In-Fact
Date:	11/09/2026