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Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 30, 2022
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,
| 2022 |  | 2021 |  | 2020
Research and development | $ | 45,350 |  |  | $ | 46,654 |  |  | $ | 37,198 |
Selling, general and administrative | 62,224 |  |  | 73,166 |  |  | 67,872 |
Total stock-based compensation expense | $ | 107,574 |  |  | $ | 119,820 |  |  | $ | 105,070 |
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Stock options | $ | 12,790 |  |  | $ | 19,048 |  |  | $ | 19,863 |
Restricted stock units | 69,775 |  |  | 53,629 |  |  | 35,675 |
Performance stock units | 21,616 |  |  | 43,428 |  |  | 47,106 |
ESPP | 3,393 |  |  | 3,715 |  |  | 2,426 |
Total stock-based compensation expense | $ | 107,574 |  |  | $ | 119,820 |  |  | $ | 105,070 |
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,
| 2022 |  | 2021 |  | 2020
Stock options | $ | 8.36 |  |  | $ | 9.04 |  |  | $ | 9.44 |
ESPP | $ | 5.80 |  |  | $ | 6.12 |  |  | $ | 6.12 |
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,
| 2022 |  | 2021 |  | 2020
Stock options: |  |  |  |  |
Risk-free interest rate | 2.35 | % |  | 0.74 | % |  | 0.30 | %
Dividend yield | — | % |  | — | % |  | — | %
Volatility | 48 | % |  | 51 | % |  | 54 | %
Expected life | 4.6 years |  | 4.6 years |  | 4.4 years
ESPP: |  |  |  |  |
Risk-free interest rate | 1.49 | % |  | 0.08 | % |  | 0.79 | %
Dividend yield | — | % |  | — | % |  | — | %
Volatility | 45 | % |  | 47 | % |  | 52 | %
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,
| 2022 |  | 2021 |  | 2020
Stock options: |  |  |  |  |
Risk-free interest rate | 2.35 | % |  | 0.74 | % |  | 0.30 | %
Dividend yield | — | % |  | — | % |  | — | %
Volatility | 48 | % |  | 51 | % |  | 54 | %
Expected life | 4.6 years |  | 4.6 years |  | 4.4 years
ESPP: |  |  |  |  |
Risk-free interest rate | 1.49 | % |  | 0.08 | % |  | 0.79 | %
Dividend yield | — | % |  | — | % |  | — | %
Volatility | 45 | % |  | 47 | % |  | 52 | %
Expected life | 6 months |  | 6 months |  | 6 months
Schedule of All Stock Option Activity | Activity for stock options during the year ended December 31, 2022 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, 2021 | 13,671 |  |  | $ | 16.79 |  |  |  |  |
Granted | 589 |  |  | $ | 19.99 |  |  |  |  |
Exercised | (2,743) |  |  | $ | 5.74 |  |  |  |  |
Cancelled | (635) |  |  | $ | 21.29 |  |  |  |  |
Stock options outstanding at December 31, 2022 | 10,882 |  |  | $ | 19.49 |  |  | 3.0 years |  | $ | 9,377 |
Stock options exercisable at December 31, 2022 | 8,743 |  |  | $ | 19.17 |  |  | 2.4 years |  | $ | 9,373 |
Schedule of All RSU Activity | Activity for RSUs during the year ended December 31, 2022 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, 2021 | 6,828 |  |  | $ | 21.58 |  |  |  |  |
Awarded | 7,933 |  |  | $ | 21.84 |  |  |  |  |
Vested and released | (2,164) |  |  | $ | 21.31 |  |  |  |  |
Forfeited | (1,303) |  |  | $ | 21.43 |  |  |  |  |
RSUs outstanding at December 31, 2022 | 11,294 |  |  | $ | 21.83 |  |  | 1.8 years |  | $ | 181,156 |
Activity for PSUs, during the year ended December 31, 2022 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, 2021 | 6,310 |  |  | $ | 23.00 |  |  |  |  |
Awarded | — |  |  | $ | — |  |  |  |  |
Vested and released | (942) |  |  | $ | 21.32 |  |  |  |  |
Forfeited | (404) |  |  | $ | 24.56 |  |  |  |  |
PSUs outstanding at December 31, 2022 | 4,964 |  |  | $ | 23.26 |  |  | 2.3 years |  | $ | 79,628 |
Schedule of Share-Based Payment Award, Equity Instruments Other Than Options, Valuation Assumptions | We used a Monte Carlo simulation model and the following assumptions to determine the grant date fair value of $33.17 per share for the 2022 TSR-based RSUs:
Fair value of Exelixis common stock on grant date | $ | 20.70 |
Expected volatility | 46.85 | %
Risk-free interest rate | 1.59 | %
Dividend yield | — | %
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 Exelixis common stock on grant date | $ | 21.31 |
Expected volatility | 49.21 | %
Risk-free interest rate | 0.29 | %
Dividend yield | — | %

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- 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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- 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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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