Exelixis grants 25,200 shares to nine new employees

Exelixis, Inc. (Nasdaq:EXEL) announced that today it granted restricted stock units representing an aggregate of 25,200 shares of Exelixis common stock to nine new employees. The restricted stock unit awards vest as to 1/4^th of the shares subject to the restricted stock unit award on the first established quarterly vesting date following the one-year anniversary of the employee's date of hire and thereafter as to 1/16^th of the original number of shares subject to the restricted stock unit award on each succeeding November 15^th, February 15^th, May 15^th and August 15^th, subject to the new employee's continued service relationship with Exelixis on each such date.

The restricted stock awards are subject to the terms and conditions of the Exelixis 2010 Inducement Award Plan and were granted as an inducement material to the new employees' entering into employment with Exelixis in accordance with NASDAQ listing Rule 5635(c)(4).