Ionis (IONS) exec gains PRSU shares, then sells common stock

Rhea-AI Filing Summary

Ionis Pharmaceuticals executive Joseph Baroldi, EVP and Chief Business Officer, reported equity compensation and a stock sale. On January 29, 2026, he acquired 10,278 shares of common stock at $0.0 upon vesting of performance-based restricted stock units, after performance was certified at 167.27% of target shares based on relative total shareholder return.

On January 30, 2026, he sold 5,296 shares of Ionis common stock at a weighted average price of $82.9615 per share, in multiple trades between $82.95 and $82.97. After these transactions, he held 45,413 shares directly, plus 4,772 shares indirectly through his spouse.

Insider Trade Summary

Net Seller: 5,296 shares ($439,364)

Net Sell 3 txns

Insider Baroldi Joseph

Role EVP, Chief Business Officer

Sold 5,296 shs ($439K)

Type	Security	Shares	Price	Value
Sale	Common Stock	5,296	$82.9615	$439K
Grant/Award	Common Stock	10,278	$0.00	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 45,413 shares (Direct); Common Stock — 4,772 shares (Indirect, by Spouse)

Footnotes (1)

1. Represents shares earned upon the vesting of performance-based restricted stock units ("PRSUs") for the performance period of the grant to the reporting person reported on January 18, 2023. The Compensation Committee certified achievement of the pre-established performance goal based on the Issuer's relative total shareholder return as compared to a peer group of companies at a level resulting in a vest of 167.27% of target shares. As reported at grant, the PRSUs could result in a payout of 0% to 200% based on actual achievement of the goal. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $82.95 to $82.97 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.

Form 4 Insider Transactions: What Each Field Means →

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
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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).

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 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 Business Officer

3. Date of Earliest Transaction (Month/Day/Year)
01/29/2026

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	01/29/2026		A		10,278(1)	A	$0.0	50,709	D
Common Stock	01/30/2026		S		5,296	D	$82.9615(2)	45,413	D
Common Stock								4,772	I	by Spouse

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

Explanation of Responses:

1. Represents shares earned upon the vesting of performance-based restricted stock units ("PRSUs") for the performance period of the grant to the reporting person reported on January 18, 2023. The Compensation Committee certified achievement of the pre-established performance goal based on the Issuer's relative total shareholder return as compared to a peer group of companies at a level resulting in a vest of 167.27% of target shares. As reported at grant, the PRSUs could result in a payout of 0% to 200% based on actual achievement of the goal.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $82.95 to $82.97 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-fact For: Joseph T. Baroldi	02/02/2026
	** 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 (IONS) EVP Joseph Baroldi report?

Joseph Baroldi reported both an equity grant vesting and a share sale. He received 10,278 Ionis common shares from performance-based RSU vesting, then sold 5,296 shares at a weighted average price of $82.9615 per share on January 30, 2026.

How many Ionis (IONS) shares did Joseph Baroldi sell and at what price?

He sold 5,296 Ionis common shares. The weighted average sale price was $82.9615 per share, with individual trades executed between $82.95 and $82.97, as disclosed in the Form 4 footnote explaining the transaction pricing range.

What performance-based award vested for Ionis (IONS) EVP Joseph Baroldi?

Baroldi earned 10,278 Ionis common shares from performance-based restricted stock units. The Compensation Committee certified performance at 167.27% of target based on Ionis’s relative total shareholder return versus a peer group over the grant’s performance period.

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

After the reported transactions, Baroldi directly owned 45,413 Ionis common shares. The filing also shows an additional 4,772 shares held indirectly through his spouse, reflecting both direct and indirect beneficial ownership positions in the company.

What is the role of Joseph Baroldi at Ionis (IONS) in this Form 4?

In this Form 4, Joseph Baroldi is identified as an officer of Ionis Pharmaceuticals. His title is EVP, Chief Business Officer, and the filing reports his personal equity award vesting and subsequent sale of company common stock.