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

Rhea-AI Filing Summary

Ionis Pharmaceuticals executive C. Frank Bennett reported option exercises and stock sales. As EVP and Chief Scientific Officer, he exercised non-qualified stock options for 48,626 shares at $60.89 and 16,463 shares at $32.6, then converted them into common stock.

On the same date, he sold 20,000 shares at a weighted-average price of $82.599 and sold 48,626 and 16,463 shares at a weighted-average price of $83.0284, in multiple trades within disclosed price ranges. After these transactions, he directly owned 80,293 common shares and 2,406 option 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

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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)
02/02/2026

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	02/02/2026		S		20,000	D	$82.599(1)	80,293	D
Common Stock	02/02/2026		M		48,626	A	$60.89	128,919	D
Common Stock	02/02/2026		S		48,626	D	$83.0284(2)	80,293	D
Common Stock	02/02/2026		M		16,463	A	$32.6	96,756	D
Common Stock	02/02/2026		S		16,463	D	$83.0284(2)	80,293	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	02/02/2026		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	02/02/2026		M			48,626	01/02/2024	01/01/2027	Common Stock	48,626	$0.0	0	D

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $81.92 to $82.775 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.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $82.775 to $83.34 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.

	By: Patrick R. O'Neil, attorney-in-fact For: C. Frank Bennett	02/04/2026
	** 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.
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FAQ

What insider transactions did Ionis Pharmaceuticals (IONS) report for C. Frank Bennett?

Ionis Pharmaceuticals reported that EVP and Chief Scientific Officer C. Frank Bennett exercised stock options and sold common shares. He exercised 65,089 options in total and sold multiple share blocks on the same date at weighted-average prices above $82 per share.

How many Ionis Pharmaceuticals (IONS) shares did C. Frank Bennett sell in this Form 4?

C. Frank Bennett sold several blocks of Ionis Pharmaceuticals common stock, including 20,000 shares at $82.599 and additional blocks of 48,626 and 16,463 shares at a weighted-average price of $83.0284, executed through multiple trades within specified price ranges.

What stock options did C. Frank Bennett exercise in Ionis Pharmaceuticals (IONS)?

He exercised two non-qualified stock option grants. One covered 48,626 shares at an exercise price of $60.89, and another covered 16,463 shares at an exercise price of $32.6, both converting into Ionis Pharmaceuticals common stock before subsequent sales reported on the same date.

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

Following the reported exercises and sales, C. Frank Bennett directly owned 80,293 shares of Ionis Pharmaceuticals common stock. He also held 2,406 derivative securities in the form of non-qualified stock options, as disclosed in the beneficial ownership columns of the Form 4 tables.

What do the weighted-average prices in the Ionis Pharmaceuticals (IONS) Form 4 mean?

The Form 4 states that reported sale prices are weighted averages from multiple trades. For example, one group of shares was sold between $81.92 and $82.775, and another between $82.775 and $83.34. Detailed trade-by-trade pricing is available upon request from the company or the filer.