GILEAD SCIENCES, INC. 4

What Happened Gilead Sciences, listed as a 10% owner of Xilio Therapeutics (XLO), made a purchase on Feb 13, 2026: 3,739,000 derivative securities (reported as a purchase) at $0.53 per unit, for a total reported cost of $1,999,991. The filing classifies the transaction as a purchase of derivatives (prefunded warrants), not a direct purchase of common stock.

Key Details

• Transaction date and price: Feb 13, 2026 — 3,739,000 units at $0.53 each (total $1,999,991). Transaction code: P (Purchase).
• Security type: Derivative (prefunded warrants) — purchaser has the right to acquire common stock under the terms described in the footnote.
• Footnote (F1): The prefunded warrants are exercisable at any time, have no expiration, and include a 19.99% beneficial ownership cap (holder may not exercise if doing so would push ownership over 19.99%).
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Filing timeliness: Report filed on Feb 17, 2026; appears to be timely (within the SEC’s short-window reporting requirement for insider changes).

Context This was an institutional purchase by a 10% owner, not an executive’s personal trade. The transaction bought prefunded warrants (derivative instruments) rather than immediate common stock — exercising those warrants would convert them into shares subject to the ownership cap in the footnote. Purchases by large holders can be informative, but institutional trades differ from insider sentiment by company officers.