Beckerle Mary C 4

What Happened

• Mary C. Beckerle, a director of Exelixis, exercised options and sold company stock on May 7, 2026. The filing shows she exercised/converted 3,856 derivative shares at $23.24 per share (total cost $89,613) and sold 7,712 shares in an open-market transaction at $48.45 per share (total proceeds $373,646). The filing also reports a disposition of 3,856 derivative shares at $0 (see Key Details).

Key Details

• Transaction date: May 7, 2026; Form 4 filed May 8, 2026 (appears timely).
• Exercises/Conversions (code M): 3,856 shares acquired at $23.24 — total $89,613.
• Open-market sale (code S): 7,712 shares sold at $48.45 — total proceeds $373,646.
• Derivative disposition: 3,856 shares reported disposed at $0 (reported as a derivative transaction).
• Shares owned after transaction: not specified in the provided summary; filing footnotes note 17,524 RSUs that will be issued upon vesting (F1) and an option covering 30,848 shares that became fully exercisable on Jan 5, 2024 (F2).
• No 10% owner status or 10b5-1 plan is indicated in the provided data.

Context

• The combination of an option exercise (M) and an open-market sale on the same day can reflect a cashless exercise or simultaneous sell-to-cover activity; the zero-dollar derivative disposition reported often represents shares surrendered or withheld in connection with the exercise (e.g., to cover exercise costs or taxes). These filings are factual disclosures and do not by themselves indicate the director’s view on the company’s prospects.