IONIS PHARMACEUTICALS INC — Director's Dealing 2014

Jan 3, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ISIS PHARMACEUTICALS INC (ISIS)
CIK: 0000874015
Period of Report: 2014-01-02

Reporting Person: HOUGEN ELIZABETH L (SVP, Finance and CFO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-01-02	Employee Stock Option (right to buy)	$39.87	A	45000	Acquired	2021-01-01	Common Stock (45000)	Direct

Footnotes

F1: Grant of 1/2/14 to reporting person of stock options under the Isis Pharmaceuticals, Inc. 2011 Equity Incentive Plan. 25% of the shares subject to the option vest and become exercisable on 1/2/15. Thereafter, the remaining shares subject to the option vest and become exercisable in 36 equal monthly installments, at the rate of 11,250 shares per year. The option shall be fully vested and exercisable on 1/2/18. The option is exercisable as to 0 shares on 1/2/14.