BENNETT C FRANK 4

What Happened
Bennett C. Frank, EVP and Chief Scientific Officer of Ionis Pharmaceuticals (IONS), had 11,421 shares report as acquired on 2026-01-29 due to the vesting of performance-based restricted stock units (PRSUs). On 2026-01-30 he sold 5,885 of those shares in open-market transactions for a weighted average price of $82.95, generating proceeds of approximately $488,141. The initial acquisition (listed at $0.00) reflects the vesting of PRSUs, not a cash purchase.

Key Details

• Transaction dates: 2026-01-29 (award/vesting) and 2026-01-30 (open-market sale). Filing date: 2026-02-02 (Form 4).
• Sale: 5,885 shares sold; weighted average price $82.95; total proceeds ≈ $488,141. Reported sale price range: $82.94–$82.95.
• Award: 11,421 shares reported acquired on vesting at $0.00 (these were PRSUs).
• Shares owned after the transactions: not specified in the provided filing.
• Filing timeliness: Form 4 filed 2026-02-02; the filing covers the Jan 29–30 events and was submitted within the standard reporting window.

Context

• Footnote on the award: The 11,421 shares were PRSUs tied to a performance period (grant reported Jan 18, 2023). The Compensation Committee certified relative total shareholder return vs. peers at a level that produced a payout of 167.27% of target (PRSUs can pay 0%–200% of target).
• Footnote on the sale: The $82.95 price is a weighted average; the shares were sold in multiple transactions at prices between $82.94 and $82.95. The filer offers to provide breakdowns of amounts sold at each separate price upon request.
• Interpretation: The filing shows a routine disposition of vested equity rather than a new purchase; it is factual reporting of vesting and an open-market sale and does not, by itself, indicate management’s forward-looking view.