Desjarlais John R 4

What Happened
John R. Desjarlais, Senior Vice President & Chief Scientific Officer of Xencor Inc. (XNCR), exercised options on January 23, 2026 to acquire 5,322 common shares by paying the exercise price of $12.51 per share, totaling $66,578. The Form 4 shows a corresponding derivative conversion/disposition entry reflecting the option was converted/terminated in connection with the exercise.

Key Details

• Transaction date: 2026-01-23. Exercise price: $12.51 per share. Shares acquired: 5,322. Total cash paid: $66,578. (Transaction code: M = option exercise)
• Filing date: 2026-01-26 (reports the Jan 23 transaction).
• Shares owned after transaction: not specified in the filing.
• Footnotes: F1 — represents exercise of an expiring option grant. F2 — the option vested on a standard schedule (25% on 1-year anniversary of Jan 26, 2016, then monthly 1/48ths), and thus was fully vested and exercisable as of the four‑year anniversary (Jan 26, 2020).
• No sale reported — the filing does not show any immediate sale of the acquired shares.

Context
This was an exercise of previously granted, fully vested options (not a market purchase or sale). The separate derivative-disposition line in the filing is the usual reporting for an option being converted/terminated upon exercise. The transaction reflects acquisition of shares by paying the exercise price; it does not, by itself, indicate any change in Desjarlais’s broader trading intent.