Ionis (NASDAQ: IONS) HR executive sells 20,106 shares under 10b5-1 plan

Rhea-AI Filing Summary

Ionis Pharmaceuticals executive Shannon L. Devers, EVP and Chief Human Resources Officer, reported multiple transactions on common stock and non-qualified stock options of Ionis Pharmaceuticals Inc.

Devers exercised derivative securities and acquired common shares through option exercises, then sold 20,106 shares of common stock in open-market transactions at weighted average prices of $79.115, $79.999, and $80.837. According to the disclosure, these sales were made under a Rule 10b5-1 trading plan adopted on November 24, 2025, with individual sale prices ranging from $78.61 to $81.01. After these transactions, Devers directly owned 22,541 shares of Ionis common stock.

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).

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^*

Devers Shannon 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, Chief Human Resources Ofc

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

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	03/03/2026		M		3,510	A	$37.58	26,051	D
Common Stock	03/03/2026		M		3,760	A	$40.85	29,811	D
Common Stock	03/03/2026		M		5,500	A	$34.69	35,311	D
Common Stock	03/03/2026		M		6,951	A	$32.6	42,262	D
Common Stock	03/03/2026		M		385	A	$52.87	42,647	D
Common Stock	03/03/2026		S		14,321(1)	D	$79.115(2)	28,326	D
Common Stock	03/03/2026		S		5,030(1)	D	$79.999(3)	23,296	D
Common Stock	03/03/2026		S		755(1)	D	$80.837(4)	22,541	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
Non-Qualified Stock Option (right to buy)	$32.6	03/03/2026		M			6,951	01/03/2023	01/02/2032	Common Stock	6,951	$0.0	928	D
Non-Qualified Stock Option (right to buy)	$34.69	03/03/2026		M			5,500	01/02/2026	01/01/2035	Common Stock	5,500	$0.0	16,500	D
Non-Qualified Stock Option (right to buy)	$37.58	03/03/2026		M			3,510	01/03/2024	01/02/2033	Common Stock	3,510	$0.0	5,744	D
Non-Qualified Stock Option (right to buy)	$40.85	03/03/2026		M			3,760	09/29/2025	09/28/2034	Common Stock	3,760	$0.0	11,280	D
Non-Qualified Stock Option (right to buy)	$52.87	03/03/2026		M			385	01/02/2020	01/01/2034	Common Stock	385	$0.0	8,877	D

Explanation of Responses:

1. Shares sold pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on November 24, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $78.61 to $79.60 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.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $79.68 to $80.675 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.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $80.76 to $81.01 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.

	By: Patrick R. O'Neil, attorney-in-fact For: Shannon L. Devers	03/05/2026
	** 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).
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FAQ

What did Shannon L. Devers report in the latest Ionis (IONS) Form 4 filing?

Shannon L. Devers reported exercising stock options and related trades in Ionis common stock. The filing shows option exercises converting into shares and subsequent open-market sales, all detailed with share amounts, weighted average prices, and updated direct ownership after the transactions.

How many Ionis (IONS) shares did Shannon L. Devers sell in this Form 4?

Shannon L. Devers reported selling 20,106 shares of Ionis common stock. These sales occurred in several open-market transactions at weighted average prices in the high-$70s to low-$80s per share, as detailed in the filing’s transaction table and accompanying footnotes.

At what prices were the Ionis (IONS) shares sold in Shannon L. Devers’ Form 4?

The reported weighted average sale prices were $79.115, $79.999, and $80.837 per share. Footnotes explain these are averages across multiple trades, with actual transaction prices ranging from $78.61 to $81.01 inclusive during the reported trading sessions.

Was Shannon L. Devers’ Ionis (IONS) stock sale under a Rule 10b5-1 plan?

Yes. The Form 4 states the shares were sold pursuant to a Rule 10b5-1 trading plan. That plan was adopted by Shannon L. Devers on November 24, 2025, providing a pre-arranged framework for executing the reported sales according to predetermined instructions.

How many Ionis (IONS) shares does Shannon L. Devers own after the reported transactions?

Following the exercises and sales, the Form 4 shows Shannon L. Devers directly owning 22,541 shares of Ionis common stock. This figure reflects the updated balance after converting options into common shares and then completing the disclosed open-market stock sales.

What derivative securities did Shannon L. Devers exercise in the Ionis (IONS) Form 4?

The filing reports exercises of non-qualified stock options (rights to buy). Multiple option transactions converted derivative positions into Ionis common stock, with transaction code “M” indicating exercise or conversion of derivative securities, before some of the resulting shares were sold in the market.