IONIS PHARMACEUTICALS INC — Director's Dealing 2015

Mar 20, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ISIS PHARMACEUTICALS INC (ISIS)
CIK: 0000874015
Period of Report: 2015-03-19

Reporting Person: O'NEIL PATRICK R. (SVP, Legal & General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-03-19	Common Stock	M	1617	$10.29	Acquired	7791	Direct
2015-03-19	Common Stock	S	1617	$74.767	Disposed	6174	Direct
2015-03-19	Common Stock	M	5683	$7.25	Acquired	11857	Direct
2015-03-19	Common Stock	S	5683	$74.767	Disposed	6174	Direct
2015-03-19	Common Stock	M	6100	$10.82	Acquired	12274	Direct
2015-03-19	Common Stock	S	6100	$74.767	Disposed	6174	Direct
2015-03-19	Common Stock	M	4000	$10.82	Acquired	10174	Direct
2015-03-19	Common Stock	S	4000	$74.767	Disposed	6174	Direct
2015-03-19	Common Stock	M	2600	$39.87	Acquired	8774	Direct
2015-03-19	Common Stock	S	2600	$74.767	Disposed	6174	Direct
2015-03-19	Common Stock	M	10525	$39.87	Acquired	16699	Direct
2015-03-19	Common Stock	S	10525	$75.004	Disposed	6174	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-03-19	Employee Stock Option (right to buy)	$10.29	M	1617	Disposed	2018-01-02	Common Stock (1617)	Direct
2015-03-19	Employee Stock Option (right to buy)	$7.25	M	5683	Disposed	2019-01-02	Common Stock (5683)	Direct
2015-03-19	Employee Stock Option (right to buy)	$10.82	M	6100	Disposed	2020-01-01	Common Stock (6100)	Direct
2015-03-19	Employee Stock Option (right to buy)	$10.82	M	4000	Disposed	2020-01-01	Common Stock (4000)	Direct
2015-03-19	Employee Stock Option (right to buy)	$39.87	M	13125	Disposed	2021-01-01	Common Stock (13125)	Direct

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 2/3/2015.

F2: Grant of 1/3/2012 to reporting person of stock options under the Isis Pharmacueticals, Inc. 1989 Stock Option Plan. 25% of the shares subject to the option vested and became exercisable on 1/3/2013. Thereafter, the remaining shares subject to the option vest and become exercisable in 36 equal monthly installments, at the rate of 4,875 shares per year. Following this transaction, the option was exercisable as to 4 on 3/19/2015.

F3: Grant of 1/2/2013 to reporting person of stock options under the Isis Pharmacueticals, Inc. 1989 Stock Option Plan. 25% of the shares subject to the option vested and became exercisable on 1/2/2014. Thereafter, the remaining shares subject to the option vest and become exercisable in 36 equal monthly installments, at the rate of 3,925 shares per year. Following this transaction, the option was exercisable as to 57 on 3/19/2015.

F4: Grant of 1/2/2013 to reporting person of stock options under the Isis Pharmacueticals, Inc. 1989 Stock Option Plan. 25% of the shares subject to the option vested and became exercisable on 1/2/2014. Thereafter, the remaining shares subject to the option vest and become exercisable in 36 equal monthly installments, at the rate of 1,875 shares per year. Following this transaction, the option was exercisable as to 62 on 3/19/2015.

F5: Grant of 1/2/2014 to reporting person of stock options under the Isis Pharmacueticals, Inc. 2011 Equity Incentive Plan. 25% of the shares subject to the option vest and become exercisable on 1/2/2015. Thereafter, the remaining shares subject to the option vest and become exercisable in 36 equal monthly installments, at the rate of 11,250 shares per year. Following this transaction, the option was exercisable as to 0 on 3/19/2015.