Diaz Allene M. 4
4 · IONIS PHARMACEUTICALS INC · Filed Jul 6, 2026
Research Summary
AI-generated summary of this filing
Ionis (IONS) Director Allene M. Diaz Receives Awards
What Happened
Allene M. Diaz, a director of Ionis Pharmaceuticals (IONS), received two derivative awards on July 1, 2026: a stock option covering 5,369 shares and a Restricted Stock Unit (RSU) award for 2,301 shares. Both awards are reported at $0 in the Form 4 (they are derivative grants, not open‑market purchases or sales). The company notes these grants were adjusted so the director’s total 2026 annual equity compensation does not exceed $400,000 (grant‑date fair value per ASC 718). Neither award was vested or exercisable for shares on the grant date.
Key Details
- Transaction date: July 1, 2026. Form filed July 6, 2026 (reporting period 2026-07-01).
- Awards: Option for 5,369 shares (derivative), RSU award for 2,301 shares (derivative). Reported price/value: $0 on the Form 4.
- Vesting: Both awards vest 100% on either the first anniversary of the grant or the next regularly scheduled annual meeting, whichever occurs earlier. Both were vested as to 0 shares on the grant date.
- Exercise/delivery: The option is not exercisable for any shares on July 1, 2026. Each RSU is a contingent right to one share (or cash equivalent); the reporting person elected to defer delivery of vested RSU shares until the earlier of the fifth anniversary of vesting, 30 days after separation, or a change in control.
- Shares owned after transaction: Not specified in the provided filing.
- Notable footnotes: F1 (compensation cap of $400k aggregate grant‑date fair value), F2 (option plan and vesting schedule), F3 (definition of RSU), F4 (RSU deferral election). No 10b5‑1 plan, tax‑withholding sale, or late‑filing flag indicated in the provided details.
Context
These are routine non‑employee director equity grants under Ionis’s director compensation plan. They do not represent a purchase (which is often viewed as a stronger bullish signal) nor an immediate sale; economic exposure changes only once options are exercised or RSUs are delivered/settled per the vesting and deferral rules.
Insider Transaction Report
- Award
Non-Qualified Stock Option (right to buy)
[F1][F2]2026-07-01+5,369→ 5,369 totalExercise: $79.19From: 2027-07-01Exp: 2036-06-30→ Common Stock (5,369 underlying) - Award
Restricted Stock Unit
[F3][F1][F4]2026-07-01+2,301→ 7,521 totalExercise: $0.00→ Common Stock (2,301 underlying)
Footnotes (4)
- [F1]Pursuant to the Company's Non-Employee Director Compensation Policy, these grants were adjusted downward such that the non-employee Director's annual equity compensation in 2026 totals no more than $400,000 based on the aggregate grant date fair value as determined in accordance with FASB Topic ASC 718.
- [F2]Grant on July 1, 2026 to reporting person of stock options under the Amended and Restated Ionis Pharmaceuticals, Inc. 2002 Non-Employee Directors' Stock Option Plan. 100% of the shares subject to the option vest and become exercisable on either the first anniversary of the date of grant or the next regularly scheduled annual meeting of stockholders of the Company, whichever occurs earlier. The option is exercisable to 0 shares on July 1, 2026.
- [F3]Each Restricted Stock Unit represents a contingent right to receive one share of Ionis common stock, or its equivalent cash value.
- [F4]Grant of Restricted Stock Unit award on July 1, 2026 to the reporting person under the Amended and Restated Ionis Pharmaceuticals, Inc. 2002 Non-Employee Directors' Stock Option Plan. These Restricted Stock Units vest 100% on either the first anniversary of the date of grant or the next regularly scheduled annual meeting of stockholders of the Company, whichever occurs earlier; however, the reporting person has elected to defer delivery of such shares until the earlier to occur of the fifth anniversary of the vesting date, the 30th day following the reporting person's Separation from Service from the Company or the date of a Change in Control of the Company, both as defined in Treasury Regulation Section 1.409A. These Restricted Stock Units are vested as to 0 shares on July 1, 2026.