IONIS PHARMACEUTICALS INC — Director's Dealing 2013

Mar 4, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ISIS PHARMACEUTICALS INC (ISIS)
CIK: 0000874015
Period of Report: 2013-03-04

Reporting Person: O'NEIL PATRICK R. (SVP, Legal and General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-03-04	Common Stock	M	10350	$11.27	Acquired	11674	Direct
2013-03-04	Common Stock	S	10350	$15.817	Disposed	1324	Direct
2013-03-04	Common Stock	M	1350	$11.12	Acquired	2674	Direct
2013-03-04	Common Stock	S	1350	$15.817	Disposed	1324	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-03-04	Employee Stock Option (right to buy)	$11.27	M	10351	Disposed	2017-01-03	Common Stock (10350)	Direct
2013-03-04	Employee Stock Option (right to buy)	$11.12	M	1350	Disposed	2014-01-01	Common Stock (1350)	Direct

Footnotes

F1: Acquired as a result of exercising a stock option pursuant to Rule 10b5-1 Trading Plans. The purchase and sale reported on this Form 4 was effective pursuant to Rule 10b5-1 Trading Plans adopted by the reporting person on 3/16/12 and 1/30/13.

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 3/16/12.

F3: Grant of 1/4/10 to reporting person of stock options under the Isis Pharmaceuticals, Inc. 1989 Stock Option Plan. 25% of the shares subject to the option vested and became exercisable on 1/4/11. Thereafter, the remaining shares subject to the option vest and become exercisable in 36 equal monthly installments, at the rate of 4,350 shares per year. Following this transaction, the option was exercisable as to 3,425 on 3/4/13.