Form 4: Exelixis EVP & General Counsel Reports Changes in Beneficial Ownership
SEC Filing
Jeffrey Hessekiel, EVP & General Counsel of Exelixis, reports changes in beneficial ownership of company stock due to tax withholding and holdings in a 401(k) plan.
Summary
- Jeffrey Hessekiel, an executive at Exelixis, filed a Form 4 detailing changes in his beneficial ownership of Exelixis stock.
- On February 15, 2025, 18,134 shares were withheld by Exelixis to cover taxes related to the vesting of performance-based restricted stock units (RSUs) awarded on March 4, 2021.
- These RSUs vested because Exelixis achieved certain performance criteria certified by the Compensation Committee on January 11, 2024.
- Hessekiel directly owns 545,416 shares, which includes 230,753 shares underlying RSUs.
- He also indirectly owns 999 shares through the Exelixis 401(k) Plan as of February 14, 2025.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company insiders.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| March 4, 2021 | Date of award of performance-based restricted stock units. |
| January 11, 2024 | Date the Compensation Committee certified that Exelixis achieved certain performance criteria. |
| February 14, 2025 | Date of the Exelixis, Inc. 401(k) Plan statement. |
| February 15, 2025 | Date of the transaction involving tax withholding of shares. |
| February 19, 2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Exelixis, Hessekiel, Stock, RSU, 401(k)
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