Form 4: Exelixis CEO Michael Morrissey Gifts Shares to Family Trust
SEC Form 4 Filing
Exelixis CEO Michael Morrissey gifted 177,985 shares of common stock to the Morrissey Family Trust on February 24, 2025.
Summary
- On February 24, 2025, Michael Morrissey, the President and CEO of Exelixis, gifted 177,985 shares of Exelixis common stock to the Morrissey Family Trust.
- Following the transaction, Morrissey directly owns 848,381 shares of common stock that will be issued upon vesting of restricted stock units (RSUs).
- He also indirectly owns 1,764,985 shares through the Morrissey Family Living Trust and 17,728 shares through the Exelixis, Inc. 401(k) Plan.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a stock transfer. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions and provides insight into the executive's holdings in the company. It is common for executives to manage their holdings for personal financial planning purposes.
Related Party Transactions
- The gifting of shares to the Morrissey Family Trust constitutes a related party transaction.
Stakeholder Impact
- The transaction itself has minimal direct impact on stakeholders.
- It provides transparency into the executive's holdings.
Key Dates
| Date | Description |
|---|---|
| July 21, 1994 | Date of the Morrissey Family Living Trust |
| February 24, 2025 | Date of the stock gifting transaction and 401(k) plan statement |
| February 26, 2025 | Date of signature for the Form 4 filing |
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