Form 4: Exelixis EVP, Commercial, Patrick J. Haley, Reports Stock Sale

Patrick J. Haley, EVP, Commercial at Exelixis, Inc., reports the sale of 10,000 shares of common stock at $38.80 per share, pursuant to a pre-arranged Rule 10b5-1 trading plan.

Summary

• Patrick J. Haley, EVP, Commercial at Exelixis, Inc., filed a Form 4 on March 5, 2025, reporting a change in beneficial ownership.
• On March 3, 2025, Haley sold 10,000 shares of Exelixis common stock at a price of $38.80 per share.
• The sale was executed under a Rule 10b5-1 trading plan adopted on August 19, 2024.
• Following the transaction, Haley directly owns 341,028 shares of Exelixis common stock, which includes 282,985 shares that will be issued upon vesting of restricted stock units.
• Haley also indirectly owns 23,539 shares through a spouse and 10,648 shares through a 401(k) plan.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a stock sale by an executive. It doesn't inherently convey positive or negative sentiment, as it's a routine disclosure.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common in the pharmaceutical industry. These transactions are often planned in advance to avoid any appearance of insider trading.

Comparison to Industry Standards

• Executive stock sales are a common occurrence in publicly traded companies, particularly in the pharmaceutical industry.
• Companies like Amgen, Gilead Sciences, and Vertex Pharmaceuticals also see regular Form 4 filings from their executives.
• The use of Rule 10b5-1 trading plans is a standard practice to ensure compliance with insider trading regulations.

Stakeholder Impact

• The stock sale by an executive could have a minor impact on shareholder sentiment, but is unlikely to have a significant long-term effect given the pre-planned nature of the transaction.

Key Dates