SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Jan. 31, 2017--
Exelixis, Inc. (Nasdaq:EXEL) announced that today it granted restricted
stock unit awards (RSUs) representing an aggregate of 61,750 shares of
Exelixis common stock and stock options to purchase an aggregate of
123,500 shares of Exelixis common stock to 13 new employees. Each RSU
vests as to 1/4th of the shares subject to the RSU on the
first established RSU vesting date following the one-year anniversary of
the employee's date of hire and thereafter as to 1/4th of the
original number of shares subject to the RSU every year thereafter over
a total of four years until fully-vested, subject to such employee's
continued service with Exelixis on each such date. The stock options
with respect to 12 stock options to acquire an aggregate of 98,500
shares have an exercise price of $18.57 per share, which is equal to the
closing price of Exelixis’ common stock on January 27, 2017, the date of
grant for those stock options, and one stock option to acquire 25,000
shares has an exercise price of $18.28 per share, which is equal to the
closing price of Exelixis’ common stock on January 30, 2017, the date of
grant for that stock option. Each stock option has a seven-year term and
vests as to 1/4th of the original number of shares subject to
the stock option on the one-year anniversary of the employee's date of
hire and thereafter as to 1/48th of the original number of
shares subject to the stock option every month thereafter over a total
of four years, subject to such employee’s continued service with
Exelixis on each such date.
The RSUs and stock options are subject to the terms and conditions of
the Exelixis 2016 Inducement Award Plan and were granted as an
inducement material to each new employee’s acceptance of employment with
Exelixis in accordance with NASDAQ Listing Rule 5635(c)(4).
In support of the launch of CABOMETYX™ (cabozantinib) tablets and the
continued growth of the company, Exelixis adopted the 2016 Inducement
Award Plan to better position the company in recruiting top talent in a
highly competitive hiring environment within the biopharmaceutical
Exelixis, Inc. (Nasdaq: EXEL) is a biopharmaceutical company committed
to the discovery, development and commercialization of new medicines
with the potential to improve care and outcomes for people with cancer.
Since its founding in 1994, three medicines discovered at Exelixis have
progressed through clinical development to receive regulatory approval.
Currently, Exelixis is focused on advancing cabozantinib, an inhibitor
of multiple tyrosine kinases including MET, AXL and VEGF receptors,
which has shown clinical anti-tumor activity in more than 20 forms of
cancer and is the subject of a broad clinical development program. Two
separate formulations of cabozantinib have received regulatory approval
to treat certain forms of kidney and thyroid cancer and are marketed for
those purposes as CABOMETYX™ tablets (U.S. and EU) and COMETRIQ®
capsules (U.S. and EU), respectively. Another Exelixis-discovered
compound, COTELLIC® (cobimetinib), a selective inhibitor of
MEK, has been approved in major territories including the United States
and European Union, and is being evaluated for further potential
indications by Roche and Genentech (a member of the Roche Group) under a
collaboration with Exelixis. For more information on Exelixis, please
or follow @ExelixisInc on Twitter.
Exelixis, the Exelixis logo, COMETRIQ and COTELLIC are registered
U.S. trademarks, and CABOMETYX is a U.S. trademark.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170131006326/en/
Source: Exelixis, Inc.
Susan Hubbard, 650-837-8194
and Public Affairs
Hal Mackins, 415-994-0040