Sec Form 4 Filing - O'NEIL PATRICK R. @ ISIS PHARMACEUTICALS INC - 2013-03-04

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
O'NEIL PATRICK R.
2. Issuer Name and Ticker or Trading Symbol
ISIS PHARMACEUTICALS INC [ ISIS]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
SVP, Legal and General Counsel
(Last) (First) (Middle)
C/O ISIS PHARMACEUTICALS, INC., 2855 GAZELLE COURT
3. Date of Earliest Transaction (MM/DD/YY)
03/04/2013
(Street)
CARLSBAD, CA92010
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 03/04/2013 03/04/2013 M( 1 ) 10,350 ( 1 ) A $ 11.27 11,674 D
Common Stock 03/04/2013 03/04/2013 S( 1 ) 10,350 ( 1 ) D $ 15.817 1,324 D
Common Stock 03/04/2013 03/04/2013 M( 2 ) 1,350 ( 2 ) A $ 11.12 2,674 D
Common Stock 03/04/2013 03/04/2013 S( 2 ) 1,350 ( 2 ) D $ 15.817 1,324 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy) $ 11.27 03/04/2013 03/04/2013 M 10,351 01/04/2011( 3 ) 01/03/2017 Common Stock 10,350 $ 0 7,050 D
Employee Stock Option (right to buy) $ 11.12 03/04/2013 03/04/2013 M 1,350 01/02/2011 01/01/2014 Common Stock 1,350 $ 0 0 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
O'NEIL PATRICK R.
C/O ISIS PHARMACEUTICALS, INC.
2855 GAZELLE COURT
CARLSBAD, CA92010
SVP, Legal and General Counsel
Signatures
/s/Patrick R. O'Neil 03/04/2013
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Acquired as a result of exercising a stock option pursuant to Rule 10b5-1 Trading Plans. The purchase and sale reported on this Form 4 was effective pursuant to Rule 10b5-1 Trading Plans adopted by the reporting person on 3/16/12 and 1/30/13.
( 2 )Acquired as a result of exercising a stock option pursuant to a Rule 10b5-1 Trading Plan. The purchase and sale reported on this Form 4 was effective pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on 3/16/12.
( 3 )Grant of 1/4/10 to reporting person of stock options under the Isis Pharmaceuticals, Inc. 1989 Stock Option Plan. 25% of the shares subject to the option vested and became exercisable on 1/4/11. Thereafter, the remaining shares subject to the option vest and become exercisable in 36 equal monthly installments, at the rate of 4,350 shares per year. Following this transaction, the option was exercisable as to 3,425 on 3/4/13.

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