Ionis Pharmaceuticals (IONS) EVP executes 10b5-1 sale of 10,148 shares

Rhea-AI Filing Summary

Ionis Pharmaceuticals executive Patrick R. O'Neil reported an open-market sale of 10,148 shares of common stock at an average price of $75.2525 per share. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 8, 2025.

Following this sale, O'Neil directly holds 62,211 Ionis shares. The reported sale price reflects a weighted average, with individual trades completed between $74.98 and $75.51 per share.

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

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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).

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^*

O'NEIL PATRICK R.

(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 CLO & General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
03/09/2026

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	03/09/2026		S		10,148(1)	D	$75.2525(2)	62,211	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

Explanation of Responses:

1. Shares sold pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on December 8, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $74.98 to $75.51 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.

	Patrick R. O'Neil	03/11/2026
	** 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 transaction did Ionis Pharmaceuticals (IONS) report for Patrick R. O'Neil?

Ionis executive Patrick R. O'Neil reported selling 10,148 shares of common stock. The shares were sold in open-market transactions at a weighted average price of $75.2525 per share, with individual sale prices ranging from $74.98 to $75.51.

What is Patrick R. O'Neil's role at Ionis Pharmaceuticals (IONS)?

Patrick R. O'Neil serves as Executive Vice President, Chief Legal Officer and General Counsel at Ionis Pharmaceuticals. His position makes this a senior management transaction, which is why the sale is reported on a Form 4 insider trading filing.

How many Ionis Pharmaceuticals (IONS) shares does Patrick R. O'Neil hold after the sale?

After selling 10,148 shares, Patrick R. O'Neil directly holds 62,211 shares of Ionis common stock. This figure reflects his remaining position immediately following the reported open-market transaction on March 9, 2026.

Was the Ionis Pharmaceuticals (IONS) insider sale made under a Rule 10b5-1 plan?

Yes. The filing states the shares were sold under a Rule 10b5-1 trading plan adopted by Patrick R. O'Neil on December 8, 2025. Such plans pre-schedule trades to help separate routine transactions from discretionary timing decisions.

At what prices were Patrick R. O'Neil's Ionis (IONS) shares sold?

The reported sale used a weighted average price of $75.2525 per share. Individual trades occurred in multiple transactions, with prices ranging from $74.98 to $75.51 per share, as disclosed in the Form 4 footnotes.

What type of security did Patrick R. O'Neil sell in Ionis Pharmaceuticals (IONS)?

He sold Ionis Pharmaceuticals common stock, classified as a non-derivative security. The transaction involved 10,148 common shares and did not include any option exercises or other derivative security activity in this particular Form 4 filing.