Spouse of Ionis (NASDAQ: IONS) EVP exercises options and sells shares

Rhea-AI Filing Summary

Ionis Pharmaceuticals EVP and Chief Business Officer Joseph Baroldi reported indirect spouse transactions in Ionis common stock. On June 26, 2026, Baroldi’s spouse exercised options for a total of 5,635 shares of common stock at exercise prices of $32.60 and $56.78 per share and then sold 5,635 shares in an open-market transaction at a weighted average price of $80.1595 per share under a pre-arranged Rule 10b5-1 Trading Plan. Following these transactions, Baroldi holds 48,522 shares directly, and his spouse holds 4,669 shares indirectly attributable to him.

Insights

Insider trading analyst

Routine spouse option exercises and pre-planned sale with indirect impact.

The filing shows Baroldi’s spouse exercising non-qualified stock options for 5,635 Ionis common shares and selling the same number at a weighted average price of $80.1595 per share. The exercise prices were $32.60 and $56.78, indicating standard in-the-money option use.

The sale was executed under a pre-arranged Rule 10b5-1 Trading Plan adopted by the spouse, which suggests the timing was planned rather than discretionary. After the transactions, Baroldi still holds 48,522 shares directly and 4,669 shares indirectly through his spouse, so the activity appears modest relative to his total reported position.

Insider Trade Summary 10b5-1

Net Seller: 5,635 shares ($451,699)

Net Sell 6 txns

Insider Baroldi Joseph

Role EVP, Chief Business Officer

Sold 5,635 shs ($452K)

Type	Security	Shares	Price	Value
Exercise	Non-Qualified Stock Option (right to buy)	1,769	$0.00	--
Exercise	Non-Qualified Stock Option (right to buy)	3,866	$0.00	--
Exercise	Common Stock	3,866	$56.78	$220K
Exercise	Common Stock	1,769	$32.60	$58K
Sale	Common Stock	5,635	$80.1595	$452K
holding	Common Stock	--	--	--

Holdings After Transaction: Non-Qualified Stock Option (right to buy) — 0 shares (Indirect, by Spouse); Common Stock — 8,535 shares (Indirect, by Spouse); Common Stock — 48,522 shares (Direct, null)

Footnotes (1)

1. Shares sold pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting persons spouse on November 25, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $80.00 to $80.52 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.

Key Figures

Shares sold by spouse: 5,635 shares Weighted average sale price: $80.1595 per share Options exercised at $56.78: 3,866 shares +4 more

7 metrics

Shares sold by spouse 5,635 shares Open-market sale of common stock on June 26, 2026

Weighted average sale price $80.1595 per share Multiple trades between $80.00 and $80.52

Options exercised at $56.78 3,866 shares Non-qualified stock option exercise by spouse

Options exercised at $32.60 1,769 shares Non-qualified stock option exercise by spouse

Direct holdings after transactions 48,522 shares Common stock held directly by Baroldi

Indirect spouse holdings after sale 4,669 shares Common stock held indirectly through spouse

Net buy/sell shares -5,635 shares Net effect of reported buy/sell activity

Key Terms

Rule 10b5-1 Trading Plan, Non-Qualified Stock Option (right to buy), weighted average price, derivative exercise/conversion

4 terms

Rule 10b5-1 Trading Plan regulatory

"Shares sold pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting persons spouse"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

Non-Qualified Stock Option (right to buy) financial

"Non-Qualified Stock Option (right to buy) with an underlying security of Common Stock"

weighted average price financial

"The price reported in Column 4 is a weighted average price"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

derivative exercise/conversion financial

"transaction_action is described as derivative exercise/conversion for the M-coded transactions"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/30/2026 - 05:49 PM Accepted by SEC EDGAR 06/30/2026 - 05:48 PM Learn about SEC filing dates

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Baroldi Joseph

(Last) (First) (Middle)

2855 GAZELLE COURT

(Street)

CARLSBAD CALIFORNIA 92010

(City) (State) (Zip)

UNITED STATES

(Country)

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 Business Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/26/2026

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

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

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

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	06/26/2026		M		3,866	A	$56.78	8,535	I	by Spouse
Common Stock	06/26/2026		M		1,769	A	$32.6	10,304	I	by Spouse
Common Stock	06/26/2026		S		5,635(1)	D	$80.1595(2)	4,669	I	by Spouse
Common Stock								48,522	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	06/26/2026		M			1,769	01/03/2023	01/02/2032	Common Stock	1,769	$0.0	0	I	by Spouse
Non-Qualified Stock Option (right to buy)	$56.78	06/26/2026		M			3,866	01/04/2022	01/03/2028	Common Stock	3,866	$0.0	0	I	by Spouse

Explanation of Responses:

1. Shares sold pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting persons spouse on November 25, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $80.00 to $80.52 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.

	By: Patrick R. O'Neil, attorney-in-fac For: Joseph Baroldi	06/30/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did Ionis (IONS) executive Joseph Baroldi report?

Joseph Baroldi reported spouse-related transactions involving option exercises for 5,635 Ionis shares and an open-market sale of 5,635 shares. These movements combined a derivative exercise with a matching share sale on the same date, all attributed as indirect ownership through his spouse.

How many Ionis (IONS) shares did Baroldi’s spouse sell and at what price?

Baroldi’s spouse sold 5,635 Ionis common shares at a weighted average price of about $80.1595 per share. The filing notes sales occurred in multiple trades between $80.00 and $80.52, with detailed trade breakdowns available upon request from the company or regulators.

Were Joseph Baroldi’s reported Ionis (IONS) share sales pre-planned?

Yes. The filing states the 5,635 Ionis shares sold by Baroldi’s spouse were made under a Rule 10b5-1 Trading Plan adopted on November 25, 2025. Such plans schedule trades in advance, helping separate transaction timing from day-to-day market or company news.

What option exercises did Baroldi’s spouse complete in Ionis (IONS) stock?

Baroldi’s spouse exercised non-qualified stock options covering 3,866 Ionis shares at $56.78 and 1,769 shares at $32.60. These exercises converted derivative awards into common stock before the 5,635-share sale, effectively realizing value from previously granted option awards.

How many Ionis (IONS) shares does Joseph Baroldi hold after these transactions?

After the reported transactions, Baroldi holds 48,522 Ionis shares directly, and his spouse holds 4,669 shares indirectly attributable to him. These figures show his remaining equity exposure in Ionis, apart from the exercised and sold shares disclosed in this Form 4.