XML 53 R35.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Stockholders’ Equity (Tables) | 12 Months Ended
--- | ---
Jan. 03, 2025
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,
| 2024 |  | 2023 |  | 2022
Research and development | $ | 30,670 |  |  | $ | 34,320 |  |  | $ | 45,350 |
Selling, general and administrative | 63,166 |  |  | 72,025 |  |  | 62,224 |
Total stock-based compensation expense | $ | 93,836 |  |  | $ | 106,345 |  |  | $ | 107,574 |
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Stock options | $ | 6,035 |  |  | $ | 7,771 |  |  | $ | 12,790 |
Restricted stock units | 81,130 |  |  | 70,462 |  |  | 69,775 |
Performance stock units | 3,058 |  |  | 23,938 |  |  | 21,616 |
Employee stock purchase plan | 3,613 |  |  | 4,174 |  |  | 3,393 |
Total stock-based compensation expense | $ | 93,836 |  |  | $ | 106,345 |  |  | $ | 107,574 |
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,
| 2024 |  | 2023 |  | 2022
Stock options | $ | 9.79 |  |  | $ | 9.45 |  |  | $ | 8.36 |
ESPP | $ | 6.39 |  |  | $ | 4.67 |  |  | $ | 5.80 |
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 weighted average assumptions:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Stock options: |  |  |  |  |
Risk-free interest rate | 4.40 | % |  | 4.14 | % |  | 2.35 | %
Dividend yield | — | % |  | — | % |  | — | %
Volatility | 39 | % |  | 44 | % |  | 48 | %
Expected life | 5.6 years |  | 5.6 years |  | 4.6 years
ESPP: |  |  |  |  |
Risk-free interest rate | 5.15 | % |  | 5.07 | % |  | 1.49 | %
Dividend yield | — | % |  | — | % |  | — | %
Volatility | 34 | % |  | 40 | % |  | 45 | %
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 weighted average assumptions:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Stock options: |  |  |  |  |
Risk-free interest rate | 4.40 | % |  | 4.14 | % |  | 2.35 | %
Dividend yield | — | % |  | — | % |  | — | %
Volatility | 39 | % |  | 44 | % |  | 48 | %
Expected life | 5.6 years |  | 5.6 years |  | 4.6 years
ESPP: |  |  |  |  |
Risk-free interest rate | 5.15 | % |  | 5.07 | % |  | 1.49 | %
Dividend yield | — | % |  | — | % |  | — | %
Volatility | 34 | % |  | 40 | % |  | 45 | %
Expected life | 6 months |  | 6 months |  | 6 months
Schedule of All Stock Option Activity | Activity for stock options during the year ended December 31, 2024 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, 2023 | 8,208 |  |  | $ | 21.24 |  |  | 2.7 years |  | $ | 24,115 |
Granted | 124 |  |  | $ | 22.46 |  |  |  |  |
Exercised | (3,051) |  |  | $ | 21.78 |  |  |  |  |
Cancelled | (665) |  |  | $ | 23.22 |  |  |  |  |
Stock options outstanding at December 31, 2024 | 4,616 |  |  | $ | 20.64 |  |  | 2.5 years |  | $ | 61,551 |
Stock options exercisable at December 31, 2024 | 4,106 |  |  | $ | 20.58 |  |  | 2.2 years |  | $ | 54,974 |
Schedule of All RSU Activity | Activity for RSUs during the year ended December 31, 2024 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, 2023 | 11,874 |  |  | $ | 22.72 |  |  | 1.7 years |  | $ | 284,856 |
Awarded | 5,974 |  |  | $ | 21.74 |  |  |  |  |
Vested and released | (2,845) |  |  | $ | 20.71 |  |  |  |  |
Forfeited | (2,063) |  |  | $ | 21.86 |  |  |  |  |
RSUs outstanding at December 31, 2024 | 12,940 |  |  | $ | 22.84 |  |  | 1.5 years |  | $ | 439,580 |
Activity for PSUs during the year ended December 31, 2024 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, 2023 | 3,891 |  |  | $ | 23.60 |  |  | 1.3 years |  | $ | 93,351 |
Awarded | 192 |  |  | $ | 24.54 |  |  |  |  |
Vested and released | (901) |  |  | $ | 23.87 |  |  |  |  |
Forfeited | (2,733) |  |  | $ | 23.42 |  |  |  |  |
PSUs outstanding at December 31, 2024 | 449 |  |  | $ | 24.54 |  |  | 0.1 years |  | $ | 15,257 |
Schedule of Share-Based Payment Award, Equity Instruments Other Than Options, Valuation Assumptions | We used a Monte Carlo simulation model and the following weighted-average assumptions to determine the weighted-average grant date fair value of $20.19 per share for the 2024 TSR-based RSUs, $26.05 per share for the 2023 TSR-based RSUs, $33.17 per share for the 2022 TSR-based RSUs, and $24.54 per share for the 2021 PSUs:
| 2024 TSR-Based RSUs |  | 2023 TSR-Based RSUs |  | 2022 TSR-Based RSUs |  | 2021 PSUs
Fair value of Exelixis common stock on grant date | $ | 21.71 |  |  | $ | 19.48 |  |  | $ | 20.70 |  |  | $ | 21.31 |
Expected volatility | 36.68 | % |  | 40.26 | % |  | 46.85 | % |  | 49.21 | %
Risk-free interest rate | 4.42 | % |  | 3.75 | % |  | 1.59 | % |  | 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-types1: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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + 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 -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + 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 -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + 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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration