Form 4: Exelixis EVP and CFO Senner Reports Stock Transactions
SEC Form 4 Filing
Christopher J. Senner, EVP and CFO of Exelixis, reports the withholding of shares to cover taxes related to vesting restricted stock units and shares held in a 401(k) plan.
Summary
- Christopher J. Senner, the EVP and CFO of Exelixis, Inc., filed a Form 4 detailing changes in beneficial ownership of the company's stock.
- On February 15, 2025, 21,591 shares of common stock were withheld to satisfy tax obligations related to the vesting of performance-based restricted stock units.
- These restricted stock units were awarded on March 4, 2021, and the Compensation Committee certified that Exelixis, Inc. had achieved certain performance criteria on January 11, 2024.
- The price per share for the tax withholding was $35.
- Following the transaction, Senner directly owns 779,607 shares of Exelixis common stock, including 266,700 shares underlying restricted stock units.
- Senner also indirectly owns 2,723 shares of common stock through the Exelixis, Inc. 401(k) Plan as of February 14, 2025.
Sentiment
Score: 5
Explanation: This is a neutral filing related to standard executive compensation practices. It doesn't indicate any positive or negative sentiment regarding the company's performance.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the financial interests of company executives.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the withholding of shares for tax purposes, which is a normal part of executive compensation.
Key Dates
| Date | Description |
|---|---|
| 2021-03-04 | Date of award of performance-based restricted stock units. |
| 2024-01-11 | Date the Compensation Committee certified that Exelixis, Inc. had achieved certain performance criteria. |
| 2025-02-14 | Date of plan statement for shares of Common Stock under the Exelixis, Inc. 401(k) Plan. |
| 2025-02-15 | Date of the stock transaction (tax withholding). |
| 2025-02-19 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Exelixis, Stock Transaction, Christopher J. Senner, Restricted Stock Units, Tax Withholding, 401(k)
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