---
schema_version: "secwatch.filing_event.v1"
accession: "0000939767-23-000127"
form_type: "8-K"
ticker: "EXEL"
cik: "0000939767"
company_name: "EXELIXIS, INC."
filed_at: "2023-12-20T23:59:59+00:00"
generated_at: "2026-06-07T10:17:24.046859+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# Exelixis amends severance plan and bylaws; updates change-in-control, advance notice rules

## Summary
- CEO severance period extended to 18 months for a Covered Termination outside Change in Control.
- Participants now eligible for pro-rata annual bonus based on actual performance after non-CIC termination.
- Bylaws updated for universal proxy rules; stockholder proposal deadline for 2024 annual meeting set to March 2, 2024.
- Definition of Change in Control Termination revised to 3 months prior to 15 months after event.
- Eliminated requirement to provide stockholder list at meetings; adjourned virtual meeting procedures clarified.

## SEC filing metadata
- accession: 0000939767-23-000127
- form_type: 8-K
- ticker: EXEL
- cik: 0000939767
- company_name: EXELIXIS, INC.
- filed_at: 2023-12-20T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 5.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/939767/000093976723000127/0000939767-23-000127-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/939767/000093976723000127/exel-20231214.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000939767-23-000127
- JSON: https://secwatch.observer/filing/0000939767-23-000127.json
- Plain text: https://secwatch.observer/filing/0000939767-23-000127.txt

## Key facts
- Governance Changes
  EXELIXIS, INC.: Amended and restated Bylaws to update procedural requirements for director nominations, reflect universal proxy rules, revise advance notice deadlines, and make technical changes (effective 2023-12-14).
  - Change: bylaw amendment
  - Effective: 2023-12-14
  source text: On and effective as of December 14, 2023, the Board amended and restated the Company’s Bylaws (the “Revised Bylaws”) to, among other changes: i. Update and expand the procedural and informational requirements for director nominations and other proposals submitted by stockholders under the Company’s “advance notice” provisions, including updates to reflect the SEC’s adoption of “universal proxy” rules as set forth in Rule 14a-19 under the Securities Exchange Act of 1934, as amended;
  evidence_url: https://www.sec.gov/Archives/edgar/data/939767/000093976723000127/0000939767-23-000127-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.