IONS Form 4: Brett Monia’s Option Exercises Offset by 203,814 Share Sales
Rhea-AI Filing Summary
Brett P. Monia, Chief Executive Officer and Director of Ionis Pharmaceuticals (IONS), reported multiple transactions on 09/03/2025 that offset each other, resulting in no net change to total common shares held. On that date the reporting person acquired 203,814 shares through exercises and market purchases and sold 203,814 shares under a Rule 10b5-1 trading plan adopted August 13, 2024. The filings show weighted-average sale prices in three ranges: $58.57–$59.55, $59.60–$60.57, and $60.61–$61.48. Following the transactions the reporting person beneficially owned 180,009 common shares. The Form 4 also lists exercises of non-qualified stock options at strike prices of $32.60, $37.58, and $53.77, with resulting increases in underlying common shares reported in Table II.
Positive
- Acquisitions and option exercises totaling 203,814 shares increased immediate liquidity from exercised options
- Sales executed under a Rule 10b5-1 trading plan, indicating pre-planned compliance with insider trading rules
- Detailed footnotes disclose weighted-average price ranges and offer to provide per-price breakdowns on request
Negative
- Substantial gross sales of 203,814 shares on a single date, which may be viewed as significant insider liquidity
- Beneficial ownership decreased to 180,009 shares after the transactions, reflecting a lower reported holding
Insights
Insider executed option exercises and matched sales under a 10b5-1 plan; net share position unchanged.
The Form 4 shows coordinated option exercises and open-market sales totaling 203,814 shares on 09/03/2025. Sales were executed under a pre-established Rule 10b5-1 plan, with weighted-average prices spanning about $58.57 to $61.48. Exercises occurred at strike prices between $32.60 and $53.77, converting options into common shares. The activity appears liquidity-driven rather than a directional change in ownership: the total acquired equals total sold and the post-transaction beneficial ownership is reported as 180,009 shares.
Transactions comply with a 10b5-1 plan and reflect routine insider liquidity and option exercises.
The disclosure specifically notes a Rule 10b5-1 trading plan adopted August 13, 2024, and provides weighted-average sale price ranges with an undertaking to disclose per-price details on request. Multiple option exercises are disclosed with grant/exercise dates and expiration dates, and Table II reconciles options converted into common shares. Documentation and footnotes are consistent with transparent insider reporting practices, with no unexplained transfers or indirect holdings reported.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Non-Qualified Stock Option (right to buy) | 31,316 | $0.00 | -- |
| Exercise | Non-Qualified Stock Option (right to buy) | 27,568 | $0.00 | -- |
| Exercise | Non-Qualified Stock Option (right to buy) | 42,030 | $0.00 | -- |
| Exercise | Non-Qualified Stock Option (right to buy) | 102,900 | $0.00 | -- |
| Exercise | Common Stock | 102,900 | $53.77 | $5.53M |
| Sale | Common Stock | 16,615 | $59.119 | $982K |
| Exercise | Common Stock | 42,030 | $37.58 | $1.58M |
| Sale | Common Stock | 127,500 | $60.1337 | $7.67M |
| Exercise | Common Stock | 31,316 | $32.60 | $1.02M |
| Exercise | Common Stock | 27,568 | $32.60 | $899K |
| Sale | Common Stock | 59,699 | $61.0629 | $3.65M |
Footnotes (1)
- Shares sold pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on August 13, 2024. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $58.57 to $59.55 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $59.60 to $60.57 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $60.61 to $61.48 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.
