[Form 4] Ionis Pharmaceuticals, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Ionis Pharmaceuticals (IONS) – CEO Form 4 insider transaction dated 07/30/25

Chief Executive Officer Brett P. Monia exercised 2,432 non-qualified stock options at an exercise price of $32.60 (transaction code M) and immediately sold the same 2,432 shares of common stock at $45.00 (transaction code S) pursuant to a Rule 10b5-1 plan adopted 08/13/24. Following the sale, Monia’s direct holdings stand at 179,820 common shares, while he retains 99,057 options outstanding. The options exercised were granted 01/03/23 and expire 01/02/32.

The sale represents roughly 1.4 % of his direct equity stake and appears routine given the pre-arranged trading plan. There is no indication of additional material events or changes to company fundamentals within the filing.

Positive

• Transaction conducted under a Rule 10b5-1 plan, indicating advance scheduling and reducing the likelihood of information-based trading.
• CEO retains 179,820 shares, maintaining significant alignment with shareholders.

Negative

• Net sale of 2,432 shares by the CEO, though modest, may be viewed as a slight negative sentiment signal.

Insights

Financial Analyst

TL;DR: Small, pre-planned CEO share sale—neutral signal for investors.

Monia converted 2,432 options into stock at $32.60 and sold them at $45, realising a ~$30k gross gain. Because the sale was executed under an established Rule 10b5-1 plan and equals only ~1.4 % of his 180k-share position, it does not materially alter insider ownership or suggest a directional view on Ionis fundamentals. No other derivatives were affected; 99,057 options remain. Overall, the filing is routine and should have minimal market impact.

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
Estimated average burden
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).

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^*

Monia Brett P

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/30/2025

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	07/30/2025		M		2,432	A	$32.6	182,252	D
Common Stock	07/30/2025		S		2,432(1)	D	$45	179,820	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	07/30/2025		M			2,432	01/03/2023	01/02/2032	Common Stock	2,432	$0.0	99,057	D

Explanation of Responses:

1. Shares sold pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on August 13, 2024.

	By: Patrick R. O'Neil, attorney-in-fact For: Brett P. Monia	08/01/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many Ionis (IONS) shares did the CEO sell?

Brett P. Monia sold 2,432 shares on 07/30/25 at $45.00 each.

What price did the CEO pay to exercise his stock options?

The exercise price was $32.60 per share.

Does the CEO still own Ionis stock after the sale?

Yes. He now directly owns 179,820 common shares plus 99,057 options.

Was the sale part of a 10b5-1 trading plan?

Yes. The filing states the sale was executed under a Rule 10b5-1 plan adopted on 08/13/24.

What percentage of the CEO's holdings was sold?

Approximately 1.4 % of his direct equity stake was sold.