Form 4: Exelixis CEO Michael Morrissey Gifts 109K Shares
Statement of Changes in Beneficial Ownership
Exelixis, Inc. CEO Michael Morrissey reported a gift of 109,676 shares of common stock to the Bombora Rise Foundation.
Summary
- CEO Michael Morrissey gifted 109,676 shares of Exelixis common stock to the Bombora Rise Foundation on May 6, 2026.
- The transaction was a charitable gift with a price of $0.
- Following the transaction, the reporting person maintains a beneficial ownership of 1,880,280 shares held in a family trust, 1,614,552 shares held directly, and 17,728 shares held in a 401(k) plan.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral event, as the transaction is a charitable donation and does not represent a change in the CEO's confidence in the company.
Positives
- The transaction reflects philanthropic activity rather than a market-based divestment.
Negatives
- Reduction in the total number of shares held by the CEO in the family trust.
Risks
- None identified in this filing.
Future Outlook
Not applicable.
Industry Context
StockSavvy.ai notes that executive charitable gifting is a common practice among biotech leadership and is generally viewed as neutral regarding company performance or outlook.
Comparison to Industry Standards
- Charitable gifting by executives is standard practice in the pharmaceutical industry and does not typically signal a change in corporate strategy or financial health.
Stakeholder Impact
- Minimal impact on shareholders as the shares remain within the reporting person's broader beneficial ownership structure or are transferred for philanthropic purposes.
Key Dates
| Date | Description |
|---|---|
| 07/21/1994 | Date of the Morrissey Family Living Trust agreement. |
| 03/31/2025 | Grant date of performance-based restricted stock unit awards. |
| 05/06/2026 | Date of the reported gift transaction and 401(k) plan statement date. |
| 05/08/2026 | Date of filing. |
Keywords
Exelixis, EXEL, Insider Trading, Form 4, Michael Morrissey, Charitable Gift
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