XML 46 R28.htm IDEA: XBRL DOCUMENT v3.22.0.1

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Allocated Employee Stock-Based Compensation Expense

We allocated the stock-based compensation expense for our equity incentive plans and our ESPP as follows (in thousands):

			Year Ended December 31,
			2021						2020						2019
Research and development			$	46,654					$	37,198					$	19,374
Selling, general and administrative			73,166						67,872						37,228
Total stock-based compensation expense			$	119,820					$	105,070					$	56,602

			Year Ended December 31,
			2021						2020						2019
Stock options			$	19,048					$	19,863					$	23,422
Restricted stock units			53,629						35,675						26,056
Performance stock units			43,428						47,106						4,878
ESPP			3,715						2,426						2,246
Total stock-based compensation expense			$	119,820					$	105,070					$	56,602

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value

The weighted average grant-date fair value per share of stock options and ESPP purchases were as follows:

			Year Ended December 31,
			2021						2020						2019
Stock options			$	9.04					$	9.44					$	8.19
ESPP			$	6.12					$	6.12					$	4.85

Schedule of Fair Value of Employee Share-Based Payments Awards Stock Option Assumptions and Weighted Average Fair Values

The grant-date fair value of stock option grants and ESPP purchases was estimated using the following assumptions:

			Year Ended December 31,
			2021						2020						2019
Stock options:
Risk-free interest rate			0.74		%				0.30		%				1.77		%
Dividend yield			—		%				—		%				—		%
Volatility			51		%				54		%				48		%
Expected life			4.6 years						4.4 years						4.3 years
ESPP:
Risk-free interest rate			0.08		%				0.79		%				2.16		%
Dividend yield			—		%				—		%				—		%
Volatility			47		%				52		%				50		%
Expected life			6 months						6 months						6 months

Schedule of Fair Value of Employee Share-Based Payments Awards ESPP Assumptions and Weighted Average Fair Values

The grant-date fair value of stock option grants and ESPP purchases was estimated using the following assumptions:

			Year Ended December 31,
			2021						2020						2019
Stock options:
Risk-free interest rate			0.74		%				0.30		%				1.77		%
Dividend yield			—		%				—		%				—		%
Volatility			51		%				54		%				48		%
Expected life			4.6 years						4.4 years						4.3 years
ESPP:
Risk-free interest rate			0.08		%				0.79		%				2.16		%
Dividend yield			—		%				—		%				—		%
Volatility			47		%				52		%				50		%
Expected life			6 months						6 months						6 months

Schedule of All Stock Option Activity

Activity for stock options during the year ended December 31, 2021 was as follows (in thousands, except per share amounts):

			Shares						Weighted  Average Exercise Price						Weighted  Average Remaining Contractual Term						Aggregate Intrinsic Value
Stock options outstanding at December 31, 2020			16,129						$	12.72
Granted			2,573						$	21.33
Exercised			(4,486)						$	4.23
Cancelled			(545)						$	21.15
Stock options outstanding at December 31, 2021			13,671						$	16.79					3.3 years						$	48,860
Stock options exercisable at December 31, 2021			9,962						$	15.23					2.4 years						$	48,171

Schedule of All RSU Activity

Activity for RSUs during the year ended December 31, 2021 was as follows (in thousands, except per share amounts):

			Shares						Weighted  Average Grant Date Fair Value						Weighted  Average Remaining Contractual  Term						Aggregate Intrinsic Value
RSUs outstanding at December 31, 2020			5,378						$	21.96
Awarded			4,220						$	21.34
Vested and released			(2,020)						$	22.03
Forfeited			(750)						$	21.69
RSUs outstanding at December 31, 2021			6,828						$	21.58					1.7 years						$	124,824

Activity for PSUs, during the year ended December 31, 2021 was as follows (in thousands, except per share amounts):

			Shares						Weighted  Average Grant Date Fair Value						Weighted  Average Remaining Contractual  Term						Aggregate Intrinsic Value
PSUs outstanding at December 31, 2020			7,378						$	21.70
Awarded			2,056						$	24.54
Vested and released			(2,388)						$	19.76
Forfeited			(736)						$	22.57
PSUs outstanding at December 31, 2021			6,310						$	23.00					3.0 years						$	98,121

Schedule of Share-Based Payment Award, Equity Instruments Other Than Options, Valuation Assumptions

A Monte Carlo simulation model was used to determine the grant date fair value of $24.54 for the 2021 PSUs based on the following assumptions:

Fair value of the Company’s common stock on grant date			$	21.31
Expected volatility			49		%
Risk-free interest rate			0.29		%
Dividend yield			—		%

X

- Definition

Schedule Of Share-Based Payment Award, Equity Instruments Other Than Options, Valuation Assumptions

+ References

No definition available.

+ Details

Name:	exel_ScheduleOfShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	exel_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 14.F)
-URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901

+ Details

Name:	us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the changes in outstanding nonvested restricted stock units.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the weighted-average grant-date fair value of equity options or other equity instruments granted during the year.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration