HANTSON LUDWIG 4

What Happened

• Director Ludwig received a grant of stock options to acquire 10,753 shares of Ionis Pharmaceuticals (transaction coded as an award, "A") on 2026-06-04. The Form 4 reports $0.00 in the price field for the derivative; no cash was exchanged and there was no immediate exercise or sale. This is a compensation award to a board member, not an open-market purchase or sale.

Key Details

• Transaction date: 2026-06-04; Form 4 filed 2026-06-08 (timely filed within the SEC reporting window).
• Grant amount: options covering 10,753 shares; reported price $0.00 on the filing.
• Vesting: options vest in three equal annual installments — first vesting 06/04/2027, fully vested 06/04/2029. Options were exercisable as to 0 shares on the grant date (per footnote).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnote: grant made under the Ionis Amended & Restated 2002 Non-Employee Directors' Stock Option Plan.

Context

• This is a standard director equity award used for compensation and retention. Because the options were not exercisable at grant, there was no immediate change in Ludwig’s liquid holdings. Options can have value only if the underlying stock price exceeds any exercise price when vested and exercised; consult company filings (e.g., proxy, equity plan) for full plan and exercise-price details.