Published: September 03, 2010
Exelixis Reports Inducement Grants Under Nasdaq Listing Rule 5635(C)(4)
SOUTH SAN FRANCISCO, Calif. - (BUSINESS WIRE) - 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 1/4th 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 1/16th of the original number of shares
subject to the restricted stock unit award on each succeeding November 15th,
February 15th, May 15th and August 15th,
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).
About Exelixis
Exelixis, Inc. is a development-stage biotechnology company dedicated to
the discovery and development of novel small molecule therapeutics for
the treatment of cancer and other serious diseases. The company is
leveraging its biological expertise and integrated research and
development capabilities to generate a pipeline of development compounds
with significant therapeutic and commercial potential for the treatment
of cancer and potentially other serious diseases. Currently, Exelixis'
broad product pipeline includes investigational compounds in phase 3,
phase 2, and phase 1 clinical development. Exelixis has established
strategic corporate alliances with major pharmaceutical and
biotechnology companies, including Bristol-Myers Squibb Company,
sanofi-aventis, GlaxoSmithKline, Genentech (a wholly owned member of the
Roche Group), Boehringer Ingelheim, and Daiichi-Sankyo. For more
information, please visit the company's web site at http://www.exelixis.com.
Exelixis and the Exelixis logo are registered U.S. trademarks.
Exelixis, Inc.
Charles Butler, 650-837-7277
Vice President,
Investor Relations
and Corporate Communications
cbutler@exelixis.com
DeDe
Sheel, 650-837-8231
Associate Director, Investor Relations
dsheel@exelixis.com
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