X0306 4 2016-05-01 0 0001269021 PORTOLA PHARMACEUTICALS INC PTLA 0001644888 Fu Tao C/O PORTOLA PHARMACEUTICALS, INC. 270 GRAND AVENUE SOUTH SAN FRANCISCO CA 94080 0 1 0 0 EVP, CBO Common Stock 2016-05-01 4 A 0 16250 0.00 A 16250 D Stock Option 23.76 2016-05-01 4 A 0 32500 0.00 A 2016-05-01 2026-04-30 Common Stock 32500 32500 D Grant of Restricted Stock Units ("RSU") that vests annually over three years commencing on March 1, 2016, subject to Reporting Person's Continuous Service as of each such date. In May 2016, Issuer's Board of Directors ("Board") approved one-time retention equity awards to all employees hired prior to March 1, 2016, including the Issuer's executive officers. The Board believes these awards are critical to employee retention in a competitive labor market after a significant decline in the Issuer's stock price. For senior management, these equity awards consist of time-based RSUs and performance-based stock options earned on achievement of pivotal commercial, regulatory and manufacturing milestones through 2018. Grant of an option to purchase 32,500 shares of common stock. The options vests in three equal installments based on Issuer's satisfaction of certain performance criteria for each of the fiscal years ending December 31, 2016, 2017, and 2018. /s/ Mike Ouimette, as attorney-in-fact 2016-05-02