IONIS PHARMACEUTICALS INC — Director's Dealing 2012

Jan 3, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ISIS PHARMACEUTICALS INC (ISIS)
CIK: 0000874015
Period of Report: 2012-01-03

Reporting Person: PARSHALL B LYNNE (Director, Director, COO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-01-03	Employee Stock Option (right to buy)	$7.25	A	61749	Acquired	2022-01-02	Common Stock (61749)	Direct

Footnotes

F1: Grant of 1/3/12 to reporting person of stock options under the Isis Pharmaceuticals, Inc. 1989 Stock Option Plan. 25% of the shares subject to the option will vest and become exercisable on 1/3/13. Thereafter, the remaining shares subject to the option vest and become exercisable in 36 equal monthly installments, at the rate of 15,437 shares per year. The option is exercisable as to 0 shares on 1/3/12.