Exelixis, Inc. Director David Edward Johnson acquired 120,409 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was purchased at an average price of $21.61 per share, for a total transaction of $2,602,038.49. Following the completion of the transaction, the director now owns 910,730 shares in the company, valued at $19,680,875.30. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.
Explanation of Responses:
1. This Form 4 is filed by David Johnson ("Mr. Johnson") and Caligan Partners LP ("Caligan") with respect to the securities held by Caligan Partners Master Fund LP ("Caligan Master Fund"), a Cayman Islands limited partnership, and managed accounts ("Caligan Accounts", together with the Caligan Master Fund, the "Caligan Fund and Accounts") to which Caligan serves as investment manager. Mr. Johnson is the Managing Partner of Caligan and a Managing Member of Caligan Partners GP LLC, the general partner of Caligan.
2. Represents a rebalancing transaction between the Caligan Fund and Accounts.
3. Represents shares of common stock that will be issued to Mr. Johnson upon vesting of restricted stock units. Mr. Johnson is deemed to hold the securities reported herein for the benefit of the Caligan Fund and Accounts, and may, after vesting, if applicable, transfer the securities directly to the Caligan Fund and Accounts.
Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of its or his pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose. Caligan may be deemed to be a director by deputization of the Issuer by virtue of the fact that Mr. Johnson currently serves on the Issuer's board of directors.