IONIS PHARMACEUTICALS INC — Director's Dealing 2013

Jul 9, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ISIS PHARMACEUTICALS INC (ISIS)
CIK: 0000874015
Period of Report: 2013-07-05

Reporting Person: Geary Richard S (SVP, Development)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-07-05	Common Stock	S	1625	$29.25	Disposed	3446	Direct
2013-07-05	Common Stock	M	16960	$14.47	Acquired	20406	Direct
2013-07-05	Common Stock	S	16960	$30.015	Disposed	3446	Direct
2013-07-05	Common Stock	M	2220	$11.27	Acquired	5666	Direct
2013-07-05	Common Stock	S	2220	$30.015	Disposed	3446	Direct
2013-07-05	Common Stock	M	5000	$19.08	Acquired	8446	Direct
2013-07-05	Common Stock	S	5000	$30.015	Disposed	3446	Direct
2013-07-08	Common Stock	M	5007	$11.27	Acquired	8453	Direct
2013-07-08	Common Stock	S	5007	$30.026	Disposed	3446	Direct
2013-07-08	Common Stock	M	17933	$11.27	Acquired	21379	Direct
2013-07-08	Common Stock	S	17933	$30.09	Disposed	3446	Direct
2013-07-08	Common Stock	M	7060	$10.29	Acquired	10506	Direct
2013-07-08	Common Stock	S	7060	$30.09	Disposed	3446	Direct
2013-07-09	Common Stock	M	10358	$10.29	Acquired	13804	Direct
2013-07-09	Common Stock	S	10358	$30.043	Disposed	3446	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-07-05	Employee Stock Option (right to buy)	$14.47	M	16960	Disposed	2016-01-01	Common Stock (16960)	Direct
2013-07-05	Employee Stock Option (right to buy)	$11.27	M	2220	Disposed	2017-01-03	Common Stock (2220)	Direct
2013-07-05	Employee Stock Option (right to buy)	$19.08	M	5000	Disposed	2015-08-15	Common Stock (5000)	Direct
2013-07-08	Employee Stock Option (right to buy)	$11.27	M	22940	Disposed	2017-01-03	Common Stock (22940)	Direct
2013-07-08	Employee Stock Option (right to buy)	$10.29	M	7060	Disposed	2018-01-02	Common Stock (7060)	Direct
2013-07-09	Employee Stock Option (right to buy)	$10.29	M	10358	Disposed	2018-01-02	Common Stock (10358)	Direct

Footnotes

F1: The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 2/12/13.

F2: Acquired as a result of exercising a stock option pursuant to a Rule 10b5-1 Trading Plan. The purchase and sale reported on this Form 4 was effective pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on 2/12/13.

F3: Acquired as a result of exercising a stock option pursuant to a Rule 10b5-1 Trading Plan. The purchase and sale reported on this Form 4 was effective pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on 10/14/10.