Ionis Pharmaceuticals (IONS) EVP exercises stock options and sells shares

Rhea-AI Filing Summary

Ionis Pharmaceuticals executive Frank Bennett reported multiple stock transactions. On March 3, 2026, the EVP and Chief Scientific Officer exercised non-qualified stock options, receiving 16,463 common shares at an exercise price of $32.60 per share and 48,626 shares at $60.89 per share. He then sold 71,600, 12,687 and 802 common shares in open-market trades at weighted average prices of $79.099, $79.8778 and $80.762 per share, respectively, under a pre-arranged Rule 10b5-1 trading plan adopted on November 19, 2025. After these transactions, he directly owned 80,554 Ionis common shares.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

BENNETT C FRANK

(Last) (First) (Middle)

2855 GAZELLE COURT

(Street)

CARLSBAD CA 92010

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
IONIS PHARMACEUTICALS INC [ IONS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief Scientific Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/03/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/03/2026		M		16,463	A	$32.6	117,017	D
Common Stock	03/03/2026		M		48,626	A	$60.89	165,643	D
Common Stock	03/03/2026		S		71,600(1)	D	$79.099(2)	94,043	D
Common Stock	03/03/2026		S		12,687(1)	D	$79.8778(3)	81,356	D
Common Stock	03/03/2026		S		802(1)	D	$80.762(4)	80,554	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Non-Qualified Stock Option (right to buy)	$32.6	03/03/2026		M			16,463	01/03/2023	01/02/2032	Common Stock	16,463	$0.0	2,406	D
Non-Qualified Stock Option (right to buy)	$60.89	03/03/2026		M			48,626	01/02/2021	01/01/2027	Common Stock	48,626	$0.0	0	D

Explanation of Responses:

1. Shares sold pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on November 19, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $78.60 to $79.60 inclusive. The reporting person undertakes to provide to Ionis Pharmaceuticals, Inc. any security holder of Ionis Pharmaceuticals, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) on this Form 4.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $79.605 to $80.555 inclusive. The reporting person undertakes to provide to Ionis Pharmaceuticals, Inc. any security holder of Ionis Pharmaceuticals, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) on this Form 4.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $80.61 to $81.07 inclusive. The reporting person undertakes to provide to Ionis Pharmaceuticals, Inc. any security holder of Ionis Pharmaceuticals, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (4) on this Form 4.

	By: Patrick R. O'Neil, attorney-in-fact For: C. Frank Bennett	03/05/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transactions did Ionis (IONS) executive Frank Bennett report?

Frank Bennett reported exercising non-qualified stock options into Ionis common stock and then selling shares in several open-market transactions on March 3, 2026. The filing details both the option exercises and the subsequent sales, along with resulting direct ownership.

How many Ionis (IONS) shares did Frank Bennett sell on March 3, 2026?

He sold 71,600, 12,687 and 802 Ionis common shares in three open-market transactions. The reported weighted average sale prices were $79.099, $79.8778 and $80.762 per share, respectively, according to the Form 4 disclosure.

At what prices did Frank Bennett exercise Ionis (IONS) stock options?

He exercised non-qualified stock options for 16,463 Ionis shares at an exercise price of $32.60 per share and for 48,626 shares at an exercise price of $60.89 per share. These exercises converted derivative securities into common stock.

Was Frank Bennett’s Ionis (IONS) stock sale under a Rule 10b5-1 plan?

Yes. The filing states the shares were sold under a Rule 10b5-1 trading plan adopted on November 19, 2025. Such plans pre-schedule trades to occur automatically, helping separate personal trading decisions from later company developments.

How many Ionis (IONS) shares does Frank Bennett own after these transactions?

After completing the reported option exercises and stock sales, Frank Bennett directly owned 80,554 shares of Ionis common stock. This post-transaction ownership figure is explicitly stated in the Form 4 for the final reported transaction.

What role does Frank Bennett hold at Ionis (IONS)?

Frank Bennett is identified as an officer of Ionis Pharmaceuticals, serving as Executive Vice President and Chief Scientific Officer. His insider status requires reporting equity transactions in Ionis securities on Form 4 to the Securities and Exchange Commission.