IONIS PHARMACEUTICALS INC — Director's Dealing 2014

Jul 2, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ISIS PHARMACEUTICALS INC (ISIS)
CIK: 0000874015
Period of Report: 2014-07-01

Reporting Person: KLEIN JOSEPH III (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-07-01	Common Stock	M	469	—	Acquired	2782	Direct
2014-07-02	Common Stock	M	313	—	Acquired	3095	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-07-01	Restricted Stock Units	$	M	469	Disposed		Common Stock (469)	Direct
2014-07-02	Restricted Stock Units	$	M	313	Disposed		Common Stock (313)	Direct
2014-07-01	Restricted Stock Units	$	A	2667	Acquired		Common Stock (2667)	Direct
2014-07-01	Director Stock Option (right to buy)	$35.53	A	16000	Acquired	2024-06-30	Common Stock (16000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	100	Indirect

Footnotes

F1: Acquired pursuant to vesting and release of shares pursuant to a Restricted Stock Unit award granted on July 1, 2013.

F2: Acquired pursuant to vesting and release of shares pursuant to a Restricted Stock Unit award granted on July 2, 2012.

F3: Each Restricted Stock Unit represents a contingent right to receive one share of Isis common stock, or its equivalent cash value.

F4: Restricted Stock Unit Award granted on July 1, 2013. Restricted Stock Units vest in equal annual installments, the first installment vesting on July 1, 2014. Upon vesting, the restricted stock units will be paid out in whole shares of Isis common stock or cash as may be determined by the Company. The RSU shall be fully vested on July 1, 2017.

F5: Restricted Stock Unit Award granted on July 2, 2012. Restricted Stock Units vest in equal annual installments, the first installment vesting on July 2, 2013. Upon vesting, the restricted stock units will be paid out in whole shares of Isis common stock or cash as may be determined by the Company. The RSU shall be fully vested on July 2, 2016.

F6: Grant of July 1, 2014 to reporting person of Restricted Stock Unit Award under the Amended and Restated Isis Pharmacueticals, Inc. 2002 Non-Employee Directors' Stock Option Plan. Restricted Stock Units vest in four equal annual installments, the first installment vesting on July 1, 2015. Upon vesting, the restricted stock units will be paid out in whole shares of Isis common stock or cash as may be determined by the Company. The RSU shall be fully vested on July 1, 2018. The RSU is vested as to 0 shares on July 1, 2014.

F7: Grant of July 1, 2014 to reporting person of stock options under the Amended and Restated 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 July 1, 2015. The option shall be fully vested and exercisable on July 1, 2018. The option is exercisable as to 0 shares on July 1, 2014.