Joan E. Herman - Nov 19, 2025 Form 4 Insider Report for IONIS PHARMACEUTICALS INC (IONS)

Role: Director
Signature: By: Patrick R. O'Neil, attorney-in-fact For: Joan E. Herman
Stock symbol: IONS
Transactions as of: Nov 19, 2025
Transactions value $: -$648,430
Form type: 4
Date filed: 11/20/2025, 05:12 PM
Previous filing: Oct 16, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
HERMAN JOAN E	Director	2855 GAZELLE COURT, CARLSBAD	By: Patrick R. O'Neil, attorney-in-fact For: Joan E. Herman	2025-11-20	0001248398

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	IONS	Common Stock	Options Exercise	$481K	+12K	+26.04%	$40.05	58.1K	Nov 19, 2025	Direct
transaction	IONS	Common Stock	Sale	-$866K	-12K	-20.66%	$72.13	46.1K	Nov 19, 2025	Direct	F1
transaction	IONS	Common Stock	Options Exercise	$2.04M	+32K	+69.44%	$63.90	78.1K	Nov 19, 2025	Direct
transaction	IONS	Common Stock	Sale	-$2.31M	-32K	-40.98%	$72.13	46.1K	Nov 19, 2025	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	IONS	Non-Qualified Stock Option (right to buy)	Options Exercise	$0	-12K	-100%	$0.00	0	Nov 19, 2025	Common Stock	12K	$40.05	Direct
transaction	IONS	Non-Qualified Stock Option (right to buy)	Options Exercise	$0	-32K	-100%	$0.00	0	Nov 19, 2025	Common Stock	32K	$63.90	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $71.985 to $72.33 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 (1) on this Form 4.

Content

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $71.985 to $72.33 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 (1) on this Form 4.