HOUGEN ELIZABETH L (SVP Finance & CFO) sold 73.2% of their position (225.22K shares) of IONIS PHARMACEUTICALS INC on the open market

Open‑market sale worth $16.31M — a major position exit. Review remaining holdings and any 10b5‑1 plan disclosures.

S · 3 sales

HOUGEN ELIZABETH L

Filed: 3/18/2026ACC: 0000874015-26-000146

InsiderHOUGEN ELIZABETH LCIK 1074773

→

IssuerIONIS PHARMACEUTICALS INCCIK 874015

Officer· SVP Finance & CFO

Since Jul 2018

-225.22K

Net shares

Net seller

$16.31M

Total sold

Open market trades

0B · 3S

Total transactions

175K acquired · 400.22K disposed

Non-Derivative Transactions7

Common Stock

Direct

M · Option Exercise

+60.30K

Price / share

$60.89

Trade value

$3.67M

% of position

45.4%

3/16/2026

132.88K→193.18K

Common Stock

Direct

M · Option Exercise

+61.04K

Price / share

$56.78

Trade value

$3.47M

% of position

31.6%

3/16/2026

193.18K→254.22K

Common Stock

Direct

M · Option Exercise

+33.12K

Price / share

$32.60

Trade value

$1.08M

% of position

13.0%

3/16/2026

254.22K→287.34K

Common Stock

Direct

M · Option Exercise

+20.54K

Price / share

$37.58

Trade value

$771.93K

% of position

7.1%

3/16/2026

287.34K→307.88K

Common Stock

Direct

S · Sale

−205.61K

Price / share

$72.38

Trade value

$14.88M

% of position

66.8%

3/16/2026

307.88K→102.27K

Common Stock

Direct

S · Sale

−9.44K

Price / share

$72.77

Trade value

$686.90K

% of position

9.2%

3/16/2026

102.27K→92.83K

Common Stock

Direct

S · Sale

−10.17K

Price / share

$73.21

Trade value

$744.66K

% of position

11.0%

3/17/2026

92.83K→82.66K

Total

Net shares

−50.22K

Net value

-$7.32M

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Direct	3/16/2026	M · Option Exercise	+60.30K	$60.89	$3.67M	45.4%	132.88K	193.18K
Common Stock Direct	3/16/2026	M · Option Exercise	+61.04K	$56.78	$3.47M	31.6%	193.18K	254.22K
Common Stock Direct	3/16/2026	M · Option Exercise	+33.12K	$32.60	$1.08M	13.0%	254.22K	287.34K
Common Stock Direct	3/16/2026	M · Option Exercise	+20.54K	$37.58	$771.93K	7.1%	287.34K	307.88K
Common Stock Direct	3/16/2026	S · Sale	−205.61K	$72.38	$14.88M	66.8%	307.88K	102.27K
Common Stock Direct	3/16/2026	S · Sale	−9.44K	$72.77	$686.90K	9.2%	102.27K	92.83K
Common Stock Direct	3/17/2026	S · Sale	−10.17K	$73.21	$744.66K	11.0%	92.83K	82.66K
Total			−50.22K		-$7.32M

Derivative Transactions4

Non-Qualified Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

Common Stock

33.12K shares

−33.12K

Strike price

32.6

Held after

0.00

Exercisable

—

3/16/2026

Non-Qualified Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

Common Stock

20.54K shares

−20.54K

Strike price

37.58

Held after

5.41K

Exercisable

—

3/16/2026

Non-Qualified Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

Common Stock

61.04K shares

−61.04K

Strike price

56.78

Held after

0.00

Exercisable

—

3/16/2026

Non-Qualified Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

Common Stock

60.30K shares

−60.30K

Strike price

60.89

Held after

0.00

Exercisable

—

3/16/2026

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Non-Qualified Stock Option (right to buy) Direct	Common Stock33.12K shares	3/16/2026	M · Option Exercise	−33.12K	32.6	—	0.00
Non-Qualified Stock Option (right to buy) Direct	Common Stock20.54K shares	3/16/2026	M · Option Exercise	−20.54K	37.58	—	5.41K
Non-Qualified Stock Option (right to buy) Direct	Common Stock61.04K shares	3/16/2026	M · Option Exercise	−61.04K	56.78	—	0.00
Non-Qualified Stock Option (right to buy) Direct	Common Stock60.30K shares	3/16/2026	M · Option Exercise	−60.30K	60.89	—	0.00