HERMAN JOAN E 4

What Happened

• Joan E. Herman, a director of Ionis Pharmaceuticals (IONS), had 5,220 Restricted Stock Units (RSUs) vest on July 15, 2026. The filing reports the conversion/exercise of a derivative (transaction code M) resulting in the acquisition of 5,220 shares at $0.00 and a corresponding derivative disposition of 5,220 units at $0.00. No cash purchase or sale proceeds are reported.

Key Details

• Transaction date: 2026-07-15 (reported on Form 4 filed 2026-07-17).
• Transaction type/code: M = exercise/conversion of a derivative (RSU conversion to common stock).
• Shares acquired: 5,220 common shares; reported price $0.00; total cash value reported $0.
• Shares disposed: 5,220 (reported as derivative disposition at $0.00) — both entries reflect the RSU settlement/conversion process in the filing.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: F1–F3 explain these were RSUs vesting and releasing under an RSU award. Each RSU entitles the holder to one share (or cash equivalent). RSUs vest 100% on the earlier of the first anniversary of grant or the next annual meeting and are delivered on July 15 following vesting; settlement may be in shares or cash as determined by the company.
• Filing timeliness: Reported July 17 for a July 15 transaction — appears timely (no late filing indicated).

Context

• This was a vesting/settlement of RSUs rather than an open-market purchase or a sale; such vesting is routine compensation-related activity and does not by itself indicate a buy/sell view of the company's stock. Transaction code M indicates conversion/exercise of a derivative (RSU conversion).