Ionis EVP Baroldi logs option exercises, share sales

Ionis Pharmaceuticals EVP and Chief Business Officer Joseph Baroldi reported a mix of option exercises and share sales in Ionis stock.

Rhea-AI Filing Summary

Ionis Pharmaceuticals EVP and Chief Business Officer Joseph Baroldi reported a mix of option exercises and share sales in Ionis stock. In early March 2026, he and his spouse exercised non-qualified stock options into common stock and then sold a net 6,659 shares, including 4,096 directly owned shares at $79.36 per share.

Additional indirect sales by his spouse involved smaller blocks such as 2,088 shares at $80.4079 and 36 shares at $81.01, alongside option-related acquisitions at exercise prices of $32.60 and $56.78. Footnotes state that these sales were made under Rule 10b5-1 trading plans adopted by Baroldi and his spouse.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 13 txns

Insider Baroldi Joseph

Role EVP, Chief Business Officer

Sold 6,659 shs ($531K)

Approx. gross sale proceeds $531K

Approx. exercise cost $95K

Type	Security	Shares	Price	Value
Exercise	Non-Qualified Stock Option (right to buy)	201	$0.00	$0.00
Exercise	Non-Qualified Stock Option (right to buy)	238	$0.00	$0.00
Exercise	Common Stock	238	$56.78	$14K
Sale	Common Stock	238	$80.00	$19K
Exercise	Common Stock	201	$32.60	$7K
Sale	Common Stock	201	$80.00	$16K
Exercise	Non-Qualified Stock Option (right to buy)	879	$0.00	$0.00
Exercise	Non-Qualified Stock Option (right to buy)	820	$0.00	$0.00
Sale	Common Stock	4,096	$79.36	$325K
Exercise	Common Stock	820	$56.78	$47K
Exercise	Common Stock	879	$32.60	$29K
Sale	Common Stock	2,088	$80.4079	$168K
Sale	Common Stock	36	$81.01	$3K

Holdings After Transaction: Non-Qualified Stock Option (right to buy) — 5,635 contracts (Indirect, by Spouse); Common Stock — 41,317 shares (Direct); Common Stock — 4,347 shares (Indirect, by Spouse)

Footnotes (3)

1. F1. Shares sold pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on November 25, 2025.
2. F2. Shares sold pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting persons spouse on November 25, 2025.
3. F3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $80.00 to $80.94 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.

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Accepted by SEC EDGAR 03/05/2026 - 06:13 PM Learn about SEC filing dates

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^*

Baroldi 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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief Business Officer

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		S		4,096(1)	D	$79.36	41,317	D
Common Stock	03/03/2026		M		820	A	$56.78	5,592	I	by Spouse
Common Stock	03/03/2026		M		879	A	$32.6	6,471	I	by Spouse
Common Stock	03/03/2026		S		2,088(2)	D	$80.4079(3)	4,383	I	by Spouse
Common Stock	03/03/2026		S		36(2)	D	$81.01	4,347	I	by Spouse
Common Stock	03/04/2026		M		238	A	$56.78	4,585	I	by Spouse
Common Stock	03/04/2026		S		238(2)	D	$80	4,347	I	by Spouse
Common Stock	03/04/2026		M		201	A	$32.6	4,548	I	by Spouse
Common Stock	03/04/2026		S		201(2)	D	$80	4,347	I	by Spouse

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			879	01/03/2023	01/02/2032	Common Stock	879	$0.0	1,970	I	by Spouse
Non-Qualified Stock Option (right to buy)	$32.6	03/04/2026		M			201	01/03/2023	01/02/2032	Common Stock	201	$0.0	1,769	I	by Spouse
Non-Qualified Stock Option (right to buy)	$56.78	03/03/2026		M			820	01/04/2022	01/03/2028	Common Stock	820	$0.0	4,104	I	by Spouse
Non-Qualified Stock Option (right to buy)	$56.78	03/04/2026		M			238	01/04/2022	01/03/2028	Common Stock	238	$0.0	3,866	I	by Spouse

Explanation of Responses:

1. Shares sold pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on November 25, 2025.

2. Shares sold pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting persons spouse on November 25, 2025.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $80.00 to $80.94 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: Joseph T. Baroldi	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).
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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