IONIS PHARMACEUTICALS INC — Director's Dealing 2014

Feb 5, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ISIS PHARMACEUTICALS INC (ISIS)
CIK: 0000874015
Period of Report: 2014-02-03

Reporting Person: LOSCALZO JOSEPH (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-02-03	Director Stock Option (right to buy)	$49.09	A	22500	Acquired	2024-02-02	Common Stock (22500)	Direct
2014-02-03	Restricted Stock Units	$	A	3750	Acquired		Common Stock (3750)	Direct

Footnotes

F1: Grant of 2/3/14 to reporting person of stock options under the Isis Pharmaceuticals, Inc. 2002 Non-Employee Directors' Stock Option Plan. The option vests and becomes exercisable in four equal annual installments, the first installment vesting on 2/3/15. The option shall be fully vested and exercisable on 2/3/18. The option is exercisable as to 0 shares on 2/3/14.

F2: The restricted stock unit represents a contingent right to receive one share of Isis Pharmaceuticals, Inc. common stock, or its equivalent cash value.

F3: The restricted stock units vest in four equal annual installments, the first installment vesting on 2/3/15. Upon vesting, the restricted stock units will be paid out in whole shares of Isis Pharmaceuticals, Inc. common stock or cash as may be determined by the Company. The RSU shall be fully vested on 2/3/18. The RSU is vested as to 0 shares on 2/3/14.