Ionis director receives 5,220 shares from RSUs

IONIS PHARMACEUTICALS director Spencer R. Berthelsen reported vesting of 5,220 Restricted Stock Units on July 15, 2026, converting into the same number of common shares at no cost.

Rhea-AI Filing Summary

IONIS PHARMACEUTICALS director Spencer R. Berthelsen reported vesting of 5,220 Restricted Stock Units on July 15, 2026, converting into the same number of common shares at no cost. After this conversion, he directly holds 161,233 common shares and 2,301 RSUs. An additional 70 common shares are held indirectly by his daughter, for which he disclaims beneficial ownership.

Insider Trade Summary

5,220 shares exercised/converted

Exercise 3 txns

Insider BERTHELSEN SPENCER R

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit F3, F4	5,220	$0.00	$0.00
Exercise	Common Stock F1	5,220	$0.00	$0.00
holding	Common Stock F2	--	--	--

Holdings After Transaction: Restricted Stock Unit — 2,301 contracts (Direct); Common Stock — 161,233 shares (Direct); Common Stock — 70 shares (Indirect, by Daughter)

Footnotes (4)

1. F1. Acquired pursuant to vesting and release of shares in accordance with a Restricted Stock Unit award.
2. F2. The reporting person disclaims beneficial ownership of all securities held by his daughter, and this report should not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
3. F3. Each Restricted Stock Unit represents a contingent right to receive one share of Ionis common stock, or its equivalent cash value.
4. F4. Restricted Stock Units vest 100% on either the first anniversary of the date of grant or the next regularly scheduled annual meeting of stockholders of the Company, whichever occurs earlier, and are delivered to the reporting person on the July 15th following the vesting date. Upon vesting, the Restricted Stock Units will be paid in whole shares of Ionis common stock or cash as may be determined by the Company.

Key Figures

Common shares received from RSU vesting: 5,220 shares Direct common shares after transaction: 161,233 shares RSUs converted: 5,220 units +2 more

5 metrics

Common shares received from RSU vesting 5,220 shares RSUs vested and converted into common stock on July 15, 2026

Direct common shares after transaction 161,233 shares Total Ionis common stock held directly by Berthelsen after July 15, 2026

RSUs converted 5,220 units Restricted Stock Units exercised/converted into common stock at $0.0000

RSUs remaining 2,301 units Restricted Stock Units held directly after the July 15, 2026 conversion

Indirect shares held by daughter 70 shares Common stock held indirectly, with beneficial ownership disclaimed by Berthelsen

Key Terms

Restricted Stock Unit, beneficial ownership, Section 16, contingent right

4 terms

Restricted Stock Unit financial

"Each Restricted Stock Unit represents a contingent right to receive one share of Ionis common stock"

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

beneficial ownership financial

"The reporting person disclaims beneficial ownership of all securities held by his daughter"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Section 16 regulatory

"for purposes of Section 16 or for any other purpose"

Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.

contingent right financial

"Each Restricted Stock Unit represents a contingent right to receive one share"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider equity change did Ionis Pharmaceuticals (IONS) disclose for Spencer R. Berthelsen?

Ionis disclosed that director Spencer R. Berthelsen had 5,220 Restricted Stock Units vest and convert into common stock at no cost. Following this, he directly holds 161,233 common shares and retains 2,301 RSUs as of July 15, 2026.

How many Ionis (IONS) common shares does Spencer R. Berthelsen hold after the latest Form 4?

After the reported transactions, Spencer R. Berthelsen holds 161,233 Ionis common shares directly. This position reflects shares received from vesting of 5,220 RSUs on July 15, 2026, with additional equity exposure through 2,301 remaining RSUs.

What happened to Spencer R. Berthelsen’s Restricted Stock Units in the Ionis (IONS) filing?

On July 15, 2026, 5,220 Restricted Stock Units vested and were converted into the same number of Ionis common shares at a $0.00 exercise price. After this conversion, Berthelsen still holds 2,301 RSUs subject to the plan’s vesting and delivery terms.

How are Spencer R. Berthelsen’s daughter’s Ionis (IONS) shares treated in the Form 4?

The filing shows 70 common shares held indirectly by Berthelsen’s daughter. A footnote states he disclaims beneficial ownership of these securities, meaning they are reported for Section 16 purposes but he does not admit economic or voting control over them.

What are the key vesting terms for Ionis (IONS) Restricted Stock Units reported by Spencer R. Berthelsen?

The RSUs vest 100% on the first anniversary of grant or the next annual stockholders’ meeting, whichever is earlier. They are delivered to the reporting person on the July 15 following vesting and may be settled in Ionis common stock or cash, at the company’s discretion.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/17/2026 - 05:12 PM EDT 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).

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^*

BERTHELSEN SPENCER R

(Last) (First) (Middle)

2855 GAZELLE COURT

(Street)

CARLSBAD CALIFORNIA 92010

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	07/15/2026		M(1)		5,220(1)	A	$0.0	161,233	D
Common Stock								70	I	by Daughter(2)

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
Restricted Stock Unit	$0.0(3)	07/15/2026		M			5,220	(4)	(4)	Common Stock	5,220	$0.0	2,301	D

Explanation of Responses:

1. Acquired pursuant to vesting and release of shares in accordance with a Restricted Stock Unit award.

2. The reporting person disclaims beneficial ownership of all securities held by his daughter, and this report should not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

3. Each Restricted Stock Unit represents a contingent right to receive one share of Ionis common stock, or its equivalent cash value.

4. Restricted Stock Units vest 100% on either the first anniversary of the date of grant or the next regularly scheduled annual meeting of stockholders of the Company, whichever occurs earlier, and are delivered to the reporting person on the July 15th following the vesting date. Upon vesting, the Restricted Stock Units will be paid in whole shares of Ionis common stock or cash as may be determined by the Company.

	By: Patrick R. O'Neil, attorney-in-fact For: Spencer R. Berthelsen	07/17/2026
	** 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.
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.
* Form 4: SEC 1474 (03-26)