Exelixis approves special PSU awards for all employees with $60 stock price performance goal

EXELIXIS, INC.

CEO Michael Morrissey receives 589,719 shares of PSU; other NEOs receive between 132,819 and 170,009 shares.
Performance condition requires VWAP of $60 or more for 90 consecutive days within 5-year period.
Full vesting requires employment through fifth anniversary; forfeiture if stock price goal not met.
Program designed to align all employee interests with shareholder value creation over five years.

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