IONIS PHARMACEUTICALS INC — Director's Dealing 2013

Jan 17, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ISIS PHARMACEUTICALS INC (ISIS)
CIK: 0000874015
Period of Report: 2013-01-15

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-01-15	Common Stock	M	1715	—	Acquired	3700	Direct
2013-01-16	Common Stock	S	759	$14.00	Disposed	2941	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-01-15	Restricted Stock Units	$	M	1715	Disposed		Common Stock (1715)	Direct

Footnotes

F1: Acquired pursuant to vesting and release of shares pursuant to an RSU award granted on January 15, 2012.

F2: The sale was made pursuant to an automatic sale to cover the required tax withholding obligations pursuant to the 2011 Equity Incentive Plan Restricted Stock Unit Agreement and Grant Notice, dated January 15, 2012

F3: Restricted Stock Unit Award granted on January 15, 2012. Restricted Stock Units vest in equal annual installments, the first installment vested on January 15, 2013. Upon vesting, the restricted stock units will be paid out in whole shares of Isis common stock or cash as may be determined by the Company. The RSU shall be fully vested on January 15, 2016.

F4: Each restricted stock unit represents a contingent right to receive one share of Isis common stock, or its equivalent cash value.