Ionis (IONS) director sells 1,032 shares after option exercises

Rhea-AI Filing Summary

Ionis Pharmaceuticals director Joseph Loscalzo reported option exercises and related share sales in early March. He exercised non-qualified stock options to receive common shares at an exercise price of $38.06 per share, then sold 1,032 common shares at weighted average prices around $80–$81.

The sales, executed on March 3–4, 2026, were carried out under a pre-established Rule 10b5-1 trading plan. After these transactions, Loscalzo directly owned 36,330 common shares of Ionis Pharmaceuticals.

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^*

LOSCALZO JOSEPH

(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
	Officer (give title below)		Other (specify below)

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		832	A	$38.06	37,162	D
Common Stock	03/03/2026		S		832(1)	D	$80.3279(2)	36,330	D
Common Stock	03/04/2026		M		200	A	$38.06	36,530	D
Common Stock	03/04/2026		S		200(1)	D	$80	36,330	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)	$38.06	03/03/2026		M			832	07/01/2023	06/30/2032	Common Stock	832	$0.0	11,168	D
Non-Qualified Stock Option (right to buy)	$38.06	03/04/2026		M			200	07/01/2023	06/30/2032	Common Stock	200	$0.0	10,968	D

Explanation of Responses:

1. Shares sold pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on November 18, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $80.035 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 (2) on this Form 4.

	By: Patrick R. O'Neil, attorney-in-fact For: Joseph Loscalzo	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).
** 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 insider transactions did Ionis (IONS) director Joseph Loscalzo report?

Joseph Loscalzo reported exercising stock options and selling Ionis shares. He converted options into common stock at an exercise price of $38.06 per share, then sold 1,032 common shares in open-market transactions at weighted average prices around $80–$81.

How many Ionis (IONS) shares did Joseph Loscalzo sell in this Form 4?

The Form 4 shows Loscalzo sold 1,032 Ionis common shares. These sales occurred in multiple transactions on March 3–4, 2026, at weighted average prices ranging from about $80.04 to $81.01 per share, as detailed in the filing’s footnote disclosure.

Were Joseph Loscalzo’s Ionis (IONS) share sales under a 10b5-1 plan?

Yes. The filing states the shares were sold under a Rule 10b5-1 trading plan. This plan was adopted by the reporting person on November 18, 2025, allowing pre-scheduled trades that proceed automatically regardless of subsequent market or company developments.

What prices did Ionis (IONS) director Joseph Loscalzo receive for the sold shares?

The reported sale prices are weighted averages around $80–$81 per Ionis share. One transaction shows an average price of $80.00, while another reflects $80.3279, with individual trades executed between $80.035 and $81.01, as described in the Form 4 footnote.

How many Ionis (IONS) shares does Joseph Loscalzo own after these transactions?

After the reported transactions, Loscalzo directly owned 36,330 Ionis common shares. This figure reflects his direct holdings following the option exercises and related open-market sales disclosed for March 3–4, 2026, in the Form 4 filing.

What type of derivative security did Joseph Loscalzo exercise at Ionis (IONS)?

Loscalzo exercised non-qualified stock options described as a “Non-Qualified Stock Option (right to buy).” These options were converted into Ionis common stock through derivative exercise transactions, with the underlying shares then partially sold in the open market.