Form 4: Exelixis EVP, Commercial, Patrick J. Haley, Reports Stock Transactions
SEC Form 4 Filing
Patrick J. Haley, EVP, Commercial at Exelixis, Inc., reports the withholding of shares to cover taxes related to vesting restricted stock units and updates beneficial ownership.
Summary
- Patrick J. Haley, an Executive Vice President at Exelixis, Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On February 15, 2025, 18,906 shares of common stock were withheld to cover taxes related to the vesting of performance-based restricted stock units.
- These restricted stock units were initially awarded on March 4, 2021, and the Compensation Committee certified the achievement of performance criteria on January 11, 2024.
- Following the transaction, Haley directly owns 355,946 shares of Exelixis common stock, which includes 235,267 shares underlying restricted stock units.
- He also indirectly owns 23,539 shares through his spouse and 10,648 shares through the Exelixis, Inc. 401(k) Plan.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects changes in executive ownership.
Key Dates
| Date | Description |
|---|---|
| March 4, 2021 | Date of initial award of performance-based restricted stock units. |
| January 11, 2024 | Date the Compensation Committee certified achievement of performance criteria for the restricted stock units. |
| February 14, 2025 | Date of plan statement for Exelixis, Inc. 401(k) Plan. |
| February 15, 2025 | Date of the reported transaction (stock withholding for taxes). |
| February 19, 2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Exelixis, Stock Transaction, Restricted Stock Units, Haley, Vesting, Taxes
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