Caligan Partners LP 4

What Happened David Johnson, a director of Exelixis, was granted an equity award on 2026-05-27 covering 19,133 shares (reported acquisition price $0.00). The filing reports this as a derivative award (option) rather than an open-market purchase or sale.

Key Details

• Transaction date: May 27, 2026; Form 4 filed May 29, 2026 (timely filing).
• Award: Option/derivative covering 19,133 shares; reported acquisition price $0.00.
• Vesting and exercise: Option is exercisable immediately but is subject to repurchase provisions and will vest 100% on the first anniversary of the grant, contingent on continuous service (per footnote F1).
• Ownership/beneficiary note: Mr. Johnson is deemed to hold the securities for the benefit of Caligan Partners Master Fund LP and related managed accounts and may transfer the securities to those accounts after vesting (per footnote F2). The reporting person disclaims beneficial ownership except for any pecuniary interest.
• Shares owned after transaction: Not specified in the Form 4.
• Filing timeliness: Filed within the standard Form 4 window (not reported late).

Context This was an option/award grant, not an immediate stock purchase. Although the option is exercisable immediately, vesting and repurchase provisions mean the economic interest may be limited until the one-year vesting date. The Form 4 lists an acquisition price of $0.00 and does not disclose a strike price or immediate cash value; such awards are common for directors as part of compensation and do not alone indicate buying or selling sentiment.