Eugene Schneider - Jan 12, 2024 Form 4 Insider Report for IONIS PHARMACEUTICALS INC (IONS)

Role
EVP, Chf Clinical Develop Ofcr
Signature
By: Patrick R. O'Neil, attorney-in-fact For: Eugene Schneider
Stock symbol
IONS
Transactions as of
Jan 12, 2024
Transactions value $
-$167,199
Form type
4
Date filed
1/17/2024, 08:51 PM
Previous filing
Jan 4, 2024
Next filing
Jan 18, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IONS Common Stock Options Exercise $261K +8K +20.96% $32.60 46.2K Jan 12, 2024 Direct
transaction IONS Common Stock Sale -$428K -8K -17.33% $53.50 38.2K Jan 12, 2024 Direct

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 -8K -24.79% $0.00 24.3K Jan 12, 2024 Common Stock 8K $32.60 Direct
transaction IONS Performance Restricted Stock Units Award $0 +17K +64.3% $0.00 43.4K Jan 15, 2024 Common Stock 17K $0.00 Direct F1, F2
transaction IONS Restricted Stock Unit Award $0 +20.4K +50.91% $0.00 60.5K Jan 15, 2024 Common Stock 20.4K $0.00 Direct F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id Content
F1 Grant to reporting person of Performance Restricted Stock Units (PRSUs) under the Ionis Pharmaceuticals, Inc. Amended and Restated 2011 Equity Incentive Plan.
F2 The PRSUs may vest at the end of the three-year performance period following the date of grant based on the Issuer's relative total shareholder return as compared to a peer group of companies. The number of PRSUs reported represents the maximum that may be earned, which is 200% of the target number. No number of PRSUs is guaranteed to vest and the actual number of PRSUs that will vest at the end of the performance period may be anywhere from zero to the amount stated.
F3 Grant to reporting person of Restricted Stock Units under the Ionis Pharmaceuticals, Inc. Amended and Restated 2011 Equity Incentive Plan.
F4 Each Restricted Stock Unit represents a contingent right to receive one share of Ionis common stock, or its equivalent cash value.
F5 Restricted Stock Units vest in four equal annual installments. Upon vesting, the restricted stock units will be paid out in whole shares of Ionis common stock or cash as may be determined by the Company.