IONIS PHARMACEUTICALS INC — Director's Dealing 2015

Oct 23, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ISIS PHARMACEUTICALS INC (ISIS)
CIK: 0000874015
Period of Report: 2015-10-21

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-10-21	Common Stock	M	15000	$11.27	Acquired	29642	Direct
2015-10-21	Common Stock	S	15000	$43.00	Disposed	14642	Direct
2015-10-21	Common Stock	M	1000	$11.27	Acquired	2297	Indirect
2015-10-21	Common Stock	S	1000	$43.00	Disposed	1297	Indirect
2015-10-21	Common Stock	M	500	$9.22	Acquired	1797	Indirect
2015-10-21	Common Stock	S	500	$43.00	Disposed	1297	Indirect
2015-10-23	Common Stock	M	4163	$11.27	Acquired	18805	Direct
2015-10-23	Common Stock	S	4163	$43.90	Disposed	14642	Direct
2015-10-23	Common Stock	M	15837	$10.29	Acquired	30479	Direct
2015-10-23	Common Stock	S	15837	$44.175	Disposed	14642	Direct
2015-10-23	Common Stock	M	5000	$10.29	Acquired	19642	Direct
2015-10-23	Common Stock	S	5000	$45.30	Disposed	14642	Direct
2015-10-23	Common Stock	M	2000	$9.22	Acquired	3297	Indirect
2015-10-23	Common Stock	S	2000	$44.175	Disposed	1297	Indirect
2015-10-23	Common Stock	M	500	$9.22	Acquired	1797	Indirect
2015-10-23	Common Stock	S	500	$45.30	Disposed	1297	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-10-21	Employee Stock Option (right to buy)	$11.27	M	15000	Disposed	2017-01-03	Common Stock (15000)	Direct
2015-10-21	Employee Stock Option (right to buy)	$11.27	M	1000	Disposed	2017-01-03	Common Stock (1000)	Indirect
2015-10-21	Employee Stock Option (right to buy)	$9.22	M	500	Disposed	2017-07-18	Common Stock (500)	Indirect
2015-10-23	Employee Stock Option (right to buy)	$11.27	M	4163	Disposed	2017-01-03	Common Stock (4163)	Direct
2015-10-23	Employee Stock Option (right to buy)	$10.29	M	20837	Disposed	2018-01-02	Common Stock (20837)	Direct
2015-10-23	Employee Stock Option (right to buy)	$9.22	M	2500	Disposed	2017-07-18	Common Stock (2500)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	725391	Indirect

Footnotes

F1: Acquired as a result of exercising a stock option pursuant to Rule 10b5-1 Trading Plan. The purchase and sale reported on this Form 4 was effective pursuant to Rule 10b5-1 Trading Plan adopted by the reporting person on 9/21/2015.

F2: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $42.60 to $43.40, inclusive. The reporting person undertakes to provide to Isis Pharmaceuticals, Inc., any security holder of Isis Pharmaceuticals, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) on this Form 4.

F3: Acquired as a result of exercising a stock option pursuant to Rule 10b5-1 Trading Plan. The purchase and sale reported on this Form 4 was effective pursuant to Rule 10b5-1 Trading Plan adopted by the reporting person's wife on 9/21/2015.

F4: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $43.90 to $44.70, inclusive. The reporting person undertakes to provide to Isis Pharmaceuticals, Inc., any security holder of Isis Pharmaceuticals, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (4) on this Form 4.