WYSZOMIERSKI JACK L 4

What Happened

• Jack L. Wyszomierski, a director of Exelixis, Inc. (EXEL), reported transactions on Feb 18, 2026. He exercised options to acquire 20,634 shares at $19.77 per share (total outlay $407,934). The filing also shows an open-market sale of 99,574 shares at a weighted average price of $44.01, netting approximately $4,382,252.
• The Form 4 also reports a disposition entry for 20,634 derivative securities at $0 (see Key Details). The exercise option became fully exercisable on May 23, 2019.

Key Details

• Transaction date: February 18, 2026.
• Option exercise: 20,634 shares @ $19.77 = $407,934 (code M).
• Open‑market sale: 99,574 shares @ weighted avg $44.01 = $4,382,252 (code S). Reported sale prices ranged from $43.32 to $44.49.
• Derivative disposition: 20,634 shares reported disposed at $0 (derivative line) — see the filing for the specific mechanics.
• Plan/authorization: Sales were effected pursuant to a Rule 10b5-1 trading plan adopted Nov 19, 2025 (footnote F2).
• RSUs: Footnote indicates 9,812 RSUs are included in holdings and will be issued upon vesting (F1).
• Option background: The option exercised was fully exercisable as of May 23, 2019 (F4).
• Shares owned after transaction: Not specified in the excerpt provided; consult the full Form 4 for post-transaction beneficial ownership.
• Timeliness: No late filing flag noted in the provided data.

Context

• The filing shows both an exercise of long-held options and a substantial open-market sale executed under a pre-established 10b5-1 plan. Exercises followed by sales can be routine (e.g., to cover taxes or diversify); the presence of a 10b5-1 plan indicates the sale schedule was pre-planned.
• For a full picture of insider exposure and timing, review the complete Form 4 and any company disclosures (the derivative disposal at $0 may reflect net settlement or an internal transfer — the filing or company can provide specifics).