IONIS PHARMACEUTICALS INC — Director's Dealing 2014

Jan 10, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ISIS PHARMACEUTICALS INC (ISIS)
CIK: 0000874015
Period of Report: 2014-01-08

Reporting Person: CROOKE STANLEY T (Director, Chairman, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-01-08	Common Stock	M	11000	$14.47	Acquired	12661	Direct
2014-01-08	Common Stock	S	11000	$40.052	Disposed	1661	Direct
2014-01-08	Common Stock	M	1500	$14.47	Acquired	1674	Indirect
2014-01-08	Common Stock	S	1500	$40.052	Disposed	174	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-01-08	Employee Stock Option (right to buy)	$14.47	M	11000	Disposed	2016-01-01	Common Stock (11000)	Direct
2014-01-08	Employee Stock Option (right to buy)	$14.47	M	1500	Disposed	2016-01-01	Common Stock (1500)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	725391	Indirect

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 8/6/13.

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's wife on 8/6/13.