KLEIN JOSEPH III 4

What Happened Joseph Klein III, a director of Ionis Pharmaceuticals (IONS), exercised a total of 22,321 option-derived shares on April 1, 2026 (two exercises: 12,000 at $38.06 and 10,321 at $41.08; exercise cost $880,707) and sold those 22,321 shares the same day in open-market transactions for total proceeds of $1,686,302. The exercises and immediate sales effectively resulted in net cash proceeds of approximately $805,595. The sales were made pursuant to a pre-established Rule 10b5-1 trading plan.

Key Details

• Transaction date: April 1, 2026; Form filed April 2, 2026 (timely).
• Option exercises (Code M): 12,000 shares @ $38.06 = $456,720; 10,321 shares @ $41.08 = $423,987 (total exercise cost $880,707).
• Open-market sales (Code S): 20,105 shares at weighted avg $75.50 (prices ranged $74.865–$75.85) = $1,517,988; 2,216 shares at weighted avg $75.95 (prices ranged $75.88–$76.17) = $168,314 (total proceeds $1,686,302).
• Net proceeds (sales minus exercise costs): ~$805,595.
• Footnotes: sales executed under a 10b5-1 plan adopted Nov 26, 2025 (F1); weighted-average price ranges disclosed (F2, F3); reporting person disclaims beneficial ownership of securities held by his son (F4).
• Shares owned after the transactions are not specified in the provided filing excerpt.

Context These entries show option exercises followed by immediate open-market sales — commonly a cashless exercise pattern (exercise then sell). The 10b5-1 plan note indicates the sales were executed under a prearranged trading plan, which is routine and intended to avoid accusations of opportunistic timing. This filing is factual disclosure of the transactions and does not by itself indicate the insider’s future view of the company.