SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Feb. 28, 2017--
Exelixis, Inc. (Nasdaq:EXEL) announced that today it granted restricted
stock unit awards (RSUs) representing an aggregate of 11,000 shares of
Exelixis common stock and stock options to purchase an aggregate of
22,000 shares of Exelixis common stock to 4 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
have an exercise price of $21.69 per share, which is equal to the
closing price of Exelixis’ common stock on February 24, 2017. 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
industry.
About Exelixis
Exelixis, Inc. (Nasdaq: EXEL) is a biopharmaceutical company committed
to the discovery, development and commercialization of new medicines to
improve care and outcomes for people with cancer. Since its founding in
1994, three products discovered at Exelixis have progressed through
clinical development, received regulatory approval, and entered the
marketplace. Two are derived from cabozantinib, an inhibitor of multiple
tyrosine kinases including MET, AXL and VEGF receptors: CABOMETYX™
tablets approved for previously treated advanced kidney cancer and
COMETRIQ® capsules approved for progressive, metastatic
medullary thyroid cancer. The third product, Cotellic®, is a
formulation of cobimetinib, a selective inhibitor of MEK, is marketed
under a collaboration with Genentech (a member of the Roche Group), and
is approved as part of a combination regimen to treat advanced melanoma.
Both cabozantinib and cobimetinib have shown potential in a variety of
forms of cancer and are the subjects of broad clinical development
programs. For more information on Exelixis, please visit www.exelixis.com
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/20170228006914/en/
Source: Exelixis, Inc.
Exelixis, Inc.
Susan Hubbard, 650-837-8194
Executive Vice
President, Public Affairs & Investor Relations
shubbard@exelixis.com
or
For
Exelixis, Inc.
Hal Mackins, 415-994-0040
hal@torchcomllc.com