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  4. [Form 4] IONIS PHARMACEUTICALS INC Insider Trading Activity

IONS: EVP exercises options, sells shares; ending stake 59,657

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Ionis Pharmaceuticals (IONS) executive Richard S. Geary, EVP and Chief Development Officer, reported option exercises and related sales on November 5–6, 2025 under a Rule 10b5-1 trading plan adopted May 6, 2025.

He exercised non‑qualified stock options at $56.78 and $60.89 and sold the corresponding shares in multiple transactions at weighted average prices of $75.01, $76.0972, and $75.421 (with ranges disclosed in footnotes). Individual trades included 800 and 801 shares on November 5, and 14,738 and 18,300 shares on November 6. Following these transactions, Geary beneficially owns 59,657 shares directly.

Positive

  • None.

Negative

  • None.
Insider Geary Richard S
Role EVP, Chief Development Officer
Sold 34,639 shs ($2.62M)
Type Security Shares Price Value
Exercise Non-Qualified Stock Option (right to buy) 14,738 $0.00 --
Exercise Non-Qualified Stock Option (right to buy) 18,300 $0.00 --
Exercise Common Stock 14,738 $56.78 $837K
Sale Common Stock 14,738 $76.0972 $1.12M
Exercise Common Stock 18,300 $60.89 $1.11M
Sale Common Stock 18,300 $75.421 $1.38M
Exercise Non-Qualified Stock Option (right to buy) 800 $0.00 --
Exercise Non-Qualified Stock Option (right to buy) 801 $0.00 --
Exercise Common Stock 800 $56.78 $45K
Sale Common Stock 800 $75.01 $60K
Exercise Common Stock 801 $60.89 $49K
Sale Common Stock 801 $75.01 $60K
Holdings After Transaction: Non-Qualified Stock Option (right to buy) — 0 shares (Direct); Common Stock — 74,395 shares (Direct)
Footnotes (1)
  1. Shares sold pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on May 6, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $75.00 to $75.05 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $75.02 to $75.84 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $75.84 to $76.65 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 (4) on this Form 4.
Form 4 Insider Transactions: What Each Field Means →
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*
Geary Richard S
(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 Development Officer
3. Date of Earliest Transaction (Month/Day/Year)
11/05/2025
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 11/05/2025 M 800 A $56.78 60,457 D
Common Stock 11/05/2025 S 800(1) D $75.01(2) 59,657 D
Common Stock 11/05/2025 M 801 A $60.89 60,458 D
Common Stock 11/05/2025 S 801(1) D $75.01(2) 59,657 D
Common Stock 11/06/2025 M 14,738 A $56.78 74,395 D
Common Stock 11/06/2025 S 14,738(1) D $76.0972(3) 59,657 D
Common Stock 11/06/2025 M 18,300 A $60.89 77,957 D
Common Stock 11/06/2025 S 18,300(1) D $75.421(4) 59,657 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) $56.78 11/05/2025 M 800 01/04/2024 01/03/2028 Common Stock 800 $0.0 14,738 D
Non-Qualified Stock Option (right to buy) $56.78 11/06/2025 M 14,738 01/04/2024 01/03/2028 Common Stock 14,738 $0.0 0 D
Non-Qualified Stock Option (right to buy) $60.89 11/05/2025 M 801 01/02/2023 01/01/2027 Common Stock 801 $0.0 18,300 D
Non-Qualified Stock Option (right to buy) $60.89 11/06/2025 M 18,300 01/02/2023 01/01/2027 Common Stock 18,300 $0.0 0 D
Explanation of Responses:
1. Shares sold pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on May 6, 2025.
2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $75.00 to $75.05 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.
3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $75.02 to $75.84 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.
4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $75.84 to $76.65 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 (4) on this Form 4.
By: Patrick R. O'Neil, attorney-in-fact For: Richard S. Geary 11/07/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did IONIS (IONS) disclose in this Form 4?

EVP Richard S. Geary exercised options and sold the resulting shares on Nov 5–6, 2025 under a Rule 10b5-1 plan.

How many Ionis shares does the reporting person hold after these trades?

Following the reported transactions, Richard S. Geary beneficially owns 59,657 shares directly.

What option exercise prices were used in the transactions?

Non‑qualified stock options were exercised at $56.78 and $60.89 per share.

At what prices were the shares sold?

Sales were reported at weighted averages of $75.01, $76.0972, and $75.421, with detailed price ranges noted in the footnotes.

Were the sales made under a pre‑arranged plan?

Yes. Footnote (1) states the sales were made pursuant to a Rule 10b5-1 Trading Plan adopted on May 6, 2025.

What were the transaction dates for the Ionis insider trades?

Transactions occurred on November 5, 2025 and November 6, 2025.