IONIS PHARMACEUTICALS INC — Director's Dealing 2014

Aug 28, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ISIS PHARMACEUTICALS INC (ISIS)
CIK: 0000874015
Period of Report: 2014-08-26

Reporting Person: Monia Brett P (SVP, Antisense Drug Discovery)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-08-26	Common Stock	M	2344	$11.27	Acquired	4157	Direct
2014-08-26	Common Stock	S	2344	$38.144	Disposed	1813	Direct
2014-08-26	Common Stock	M	15000	$10.29	Acquired	16813	Direct
2014-08-26	Common Stock	S	15000	$38.144	Disposed	1813	Direct
2014-08-26	Common Stock	M	10000	$7.25	Acquired	11813	Direct
2014-08-26	Common Stock	S	10000	$38.144	Disposed	1813	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-08-26	Employee Stock Option (right to buy)	$11.27	M	2344	Disposed	2017-01-03	Common Stock (2344)	Direct
2014-08-26	Employee Stock Option (right to buy)	$10.29	M	15000	Disposed	2018-01-02	Common Stock (15000)	Direct
2014-08-26	Employee Stock Option (right to buy)	$7.25	M	10000	Disposed	2019-01-02	Common Stock (10000)	Direct

Footnotes

F1: 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 7/1/14.

F2: Grant of 1/3/11 to reporting person of stock options under the Isis Pharmaceuticals, Inc. 1989 Stock Option Plan. 25% of the shares subject to the option vest and became exercisable on 1/3/12. Thereafter, the remaining shares subject to the option vest and became exercisable in 36 equal monthly installments, at the rate of 5,650 shares per year. The option shall be fully vested and exercisable on 1/3/15. The option, before the reported exercises, was exercisable as to 20,245 shares on 8/26/14.

F3: 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 vest and became exercisable on 1/3/13. Thereafter, the remaining shares subject to the option vest and became exercisable in 36 equal monthly installments, at the rate of 4,749 shares per year. The option shall be fully vested and exercisable on 1/3/16. The option, before the reported exercises, was exercisable as to 12,266 shares on 8/26/14.