Ionis (NASDAQ: IONS) director sells 22,321 shares under Rule 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Ionis Pharmaceuticals director Joseph Klein III exercised stock options and sold shares on April 1, 2026. He exercised options for 12,000 shares at $38.06 and 10,321 shares at $41.08, acquiring a total of 22,321 common shares. He then sold 20,105 shares at a weighted average price of $75.503 and 2,216 shares at $75.954 in open-market transactions pursuant to a Rule 10b5-1 Trading Plan adopted on November 26, 2025. After these transactions, he held 11,014 shares directly. An additional 100 shares are held indirectly by his son, for which he disclaims beneficial ownership.
Positive
- None.
Negative
- None.
Insights
Director exercised options and sold all resulting shares under a pre-set 10b5-1 plan, retaining a smaller direct stake.
Director Joseph Klein III exercised non-qualified stock options for 22,321 Ionis common shares at strike prices of $38.06 and $41.08. He then sold the same number of shares at weighted average prices around $75.5 in open-market transactions.
The filing notes these sales were made under a Rule 10b5-1 Trading Plan adopted on November 26, 2025, suggesting they were pre-scheduled rather than opportunistic. Following the transactions, he holds 11,014 shares directly, plus 100 shares held by his son, for which he disclaims beneficial ownership.
This pattern is consistent with a routine exercise-and-sell for liquidity, with a residual equity position maintained. The absence of remaining derivatives in the filing indicates previously held options tied to these transactions were fully exercised.
Insider Trade Summary 10b5-1
Net Seller: 22,321 shares ($1,686,302)
Net Sell
7 txns
Insider
KLEIN JOSEPH III
Role
Director
Sold
22,321 shs ($1.69M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Non-Qualified Stock Option (right to buy) | 12,000 | $0.00 | -- |
| Exercise | Non-Qualified Stock Option (right to buy) | 10,321 | $0.00 | -- |
| Exercise | Common Stock | 12,000 | $38.06 | $457K |
| Exercise | Common Stock | 10,321 | $41.08 | $424K |
| Sale | Common Stock | 20,105 | $75.503 | $1.52M |
| Sale | Common Stock | 2,216 | $75.954 | $168K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Non-Qualified Stock Option (right to buy) — 0 shares (Direct);
Common Stock — 23,014 shares (Direct);
Common Stock — 100 shares (Indirect, by Son)
Footnotes (1)
- Shares sold pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on November 26, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $74.865 to $75.85 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 $75.88 to $76.17 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 reporting person disclaims beneficial ownership of all securities held by his son, and this report should not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
Key Figures
Options exercised at $38.06: 12,000 shares at $38.0600
Options exercised at $41.08: 10,321 shares at $41.0800
Shares sold at $75.503: 20,105 shares at $75.5030
+5 more
8 metrics
Options exercised at $38.06
12,000 shares at $38.0600
Non-qualified stock option exercise on April 1, 2026
Options exercised at $41.08
10,321 shares at $41.0800
Non-qualified stock option exercise on April 1, 2026
Shares sold at $75.503
20,105 shares at $75.5030
Open-market sale on April 1, 2026
Shares sold at $75.954
2,216 shares at $75.9540
Open-market sale on April 1, 2026
Direct holdings after transactions
11,014 shares
Common stock directly owned after April 1, 2026
Indirect holdings by son
100 shares
Common stock held by son; beneficial ownership disclaimed
Net shares sold
22,321 shares
Net-sell direction per transaction summary
10b5-1 plan adoption date
November 26, 2025
Date director adopted Rule 10b5-1 Trading Plan
Key Terms
Non-Qualified Stock Option, Rule 10b5-1 Trading Plan, weighted average price, beneficial ownership, +1 more
5 terms
Non-Qualified Stock Option financial
"security_title: "Non-Qualified Stock Option (right to buy)""
A non-qualified stock option (NSO) is a contract that lets an employee or service provider buy company shares at a fixed price for a set period, like a voucher to purchase stock later at today’s price. It matters to investors because exercising NSOs creates ordinary income for the holder and can increase share count, affecting a company’s earnings and ownership mix; think of it as a future sale that can dilute existing shareholders and has immediate tax consequences for the recipient.
Rule 10b5-1 Trading Plan regulatory
"Shares sold pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person"
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.
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.
beneficial ownership regulatory
"The reporting person disclaims beneficial ownership of all securities held by his son"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
open market or private transaction financial
"Sale in open market or private transaction"
FAQ
What insider transactions did Ionis (IONS) director Joseph Klein III report?
He exercised options for 22,321 Ionis shares, then sold 22,321 common shares in open-market trades on April 1, 2026. These transactions converted option awards into cash while leaving him with 11,014 shares held directly after the activity.
What type of securities did the Ionis (IONS) director exercise on this Form 4?
He exercised non-qualified stock options to acquire Ionis common stock. Specifically, options for 12,000 shares at $38.06 and 10,321 shares at $41.08 were converted into common shares, which were then sold in open-market transactions reported in the filing.