Ionis Pharmaceuticals (IONS) grants 19,350 stock options to EVP CLO

Rhea-AI Filing Summary

Ionis Pharmaceuticals executive Patrick R. O'Neil, EVP CLO & General Counsel, received a grant of 19,350 non-qualified stock options on 01/02/2026. Each option gives the right to buy one share of Ionis common stock at an exercise price of $79.67 under the company’s Amended and Restated 2011 Equity Incentive Plan.

None of the options were exercisable on the grant date. Instead, 25% of the shares subject to the option will vest and become exercisable on 01/02/2027. The remaining options will then vest and become exercisable in 36 equal monthly installments over the following three years, creating a four-year total vesting period tied to continued service.

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^*

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)
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		19,350		01/02/2027(1)	01/01/2036	Common Stock	19,350	$0.0	19,350	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.

	Patrick R. O'Neil	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).
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?

The company reported a grant to Patrick R. O'Neil of 19,350 non-qualified stock options on 01/02/2026, giving him the right to buy Ionis common stock.

What is the exercise price of the new Ionis (IONS) stock options granted to Patrick R. O'Neil?

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

How do the newly granted Ionis (IONS) stock options vest for Patrick R. O'Neil?

The options were not exercisable at grant. 25% of the shares vest and become exercisable on 01/02/2027, and the remaining shares vest in 36 equal monthly installments over the next three years.

How many Ionis (IONS) derivative securities does Patrick R. O'Neil hold after this transaction?

After the grant, Patrick R. O'Neil beneficially owns 19,350 non-qualified stock options, held with direct ownership.

Is the Form 4 transaction for Ionis (IONS) a purchase or a grant of options?

The Form 4 reports an option grant (transaction code A) of non-qualified stock options to Patrick R. O'Neil, rather than an open-market purchase or sale of shares.

Under which plan were the Ionis (IONS) stock options granted to Patrick R. O'Neil?

The options were granted under the Ionis Pharmaceuticals, Inc. Amended and Restated 2011 Equity Incentive Plan.