IONIS PHARMACEUTICALS INC — Director's Dealing 2015

Mar 9, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ISIS PHARMACEUTICALS INC (ISIS)
CIK: 0000874015
Period of Report: 2015-03-05

Reporting Person: KLEIN JOSEPH III (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-03-05	Common Stock	M	3750	$9.22	Acquired	4845	Direct
2015-03-05	Common Stock	M	3750	$9.30	Acquired	8595	Direct
2015-03-05	Common Stock	M	2500	$12.94	Acquired	11095	Direct
2015-03-05	Common Stock	S	7000	$70.9545	Disposed	4095	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-03-05	Director Stock Option (right to buy)	$9.22	M	3750	Disposed	2020-06-30	Common Stock (3750)	Direct
2015-03-05	Director Stock Option (right to buy)	$9.30	M	3750	Disposed	2021-06-30	Common Stock (3750)	Direct
2015-03-05	Director Stock Option (right to buy)	$12.94	M	2500	Disposed	2022-07-01	Common Stock (2500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	100	Indirect

Footnotes

F1: Acquired as a result of exercising a stock option.

F2: The sale was a result of shares owned. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $70.8500 to $71.0300, 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: Grant of 7/1/2011 to reporting person of stock options under the Isis Pharmacueticals, Inc. Amended & Restated 2002 Non-Employee Directors' Stock Option Plan. The option vests and becomes exercisable in four equal annual installments, the first installment vesting on 7/1/2012. The option shal be fully vested and exercisable on 7/1/2015. Following the reported option exercise, the option was exercisable as to 0 shares on 3/5/2015.

F4: The sale was made pursuant to shares owned.

F5: Grant of 7/2/2012 to reporting person of stock options under the Isis Pharmacueticals, Inc. Amended & Restated 2002 Non-Employee Directors' Stock Option Plan. The option vests and becomes exercisable in four equal annual installments, the first installment vesting on 7/2/2013. The option shal be fully vested and exercisable on 7/2/2016. Following the reported option exercise, the option was exercisable as to 313 shares on 3/5/2015.