Ionis (NASDAQ: IONS) CFO granted 25,770 stock options under equity plan

Rhea-AI Filing Summary

Ionis Pharmaceuticals reported that its EVP, Finance & CFO, Elizabeth L. Hougen, received a grant of stock options on 01/02/2026 under the company’s Amended and Restated 2011 Equity Incentive Plan. The award covers 25,770 non-qualified stock options with an exercise price of $79.67 per share and was granted at no cost to the executive.

None of the options were exercisable on the grant date. 25% of the options will vest and become exercisable on 01/02/2027, with the remaining options vesting in 36 equal monthly installments over the following three years, and the options are scheduled to expire on 01/01/2036.

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

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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).

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^*

HOUGEN ELIZABETH L

(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, Finance & CFO

3. Date of Earliest Transaction (Month/Day/Year)
01/02/2026

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

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)	$79.67	01/02/2026		A		25,770		01/02/2027(1)	01/01/2036	Common Stock	25,770	$0.0	25,770	D

Explanation of Responses:

1. Grant on 01/02/2026 to reporting person of stock options under the Ionis Pharmaceuticals, Inc. Amended and Restated 2011 Equity Incentive Plan. Following this transaction, the option was exercisable as to 0 shares on 01/02/2026. 25% of the shares subject to the option will vest and become exercisable on 01/02/2027. Thereafter, the remaining shares subject to the option will vest and become exercisable in 36 equal monthly installments over the next 3 years.

	By: Patrick R. O'Neil, attorney-in-fact For: Elizabeth L. Hougen	01/05/2026
	** 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).
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FAQ

What did Ionis Pharmaceuticals (IONS) disclose in this Form 4 filing?

The filing shows that EVP, Finance & CFO Elizabeth L. Hougen received a grant of 25,770 non-qualified stock options to buy Ionis Pharmaceuticals common stock.

What is the exercise price of the new Ionis (IONS) stock options granted to the CFO?

The non-qualified stock options granted to the CFO have an exercise price of $79.67 per share for Ionis Pharmaceuticals common stock.

How many stock options did the Ionis (IONS) CFO hold after this transaction?

Following this grant, the CFO beneficially owned 25,770 non-qualified stock options according to the filing.

When do the new Ionis (IONS) CFO stock options start to vest and become exercisable?

25% of the options will vest and become exercisable on 01/02/2027, with the remaining options vesting in equal monthly installments over the next three years.

When do the stock options granted to the Ionis (IONS) CFO expire?

The non-qualified stock options granted on 01/02/2026 are scheduled to expire on 01/01/2036, as reported in the filing.

Did the Ionis (IONS) CFO pay anything for the stock options granted?

The filing lists a per-option price of $0.0 for the grant, indicating the options were awarded at no cost, with an exercise price of $79.67 per share if exercised.