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Biopharma & Life Sciences

Ionis Pharmaceuticals Executive Compensation (FY25)

IONS · Executive and director compensation, fiscal 2023 to 2025
Data as of September 7, 2026Latest filing (8-K): June 8, 2026
380 figures on this page: 373 cited to the filing that reported them, 7 calculated from figures it prints. See the citations
Brett Monia was paid $13,350,777 in total compensation as Chief Executive Officer for fiscal 2025, and Monia's total was 13.3% lower than the $15,400,343 reported for fiscal 2024. The disclosed chief executive pay ratio for fiscal 2025 is 44:1, against median employee compensation of $304,680. The say-on-pay proposal drew 96.4% of votes cast for or against in favor at the meeting held June 4, 2026 for fiscal 2025. Companies named in the disclosed peer group include Acadia Pharmaceuticals, Alkermes, Amicus Therapeutics, Apellis Pharmaceuticals and Axsome Therapeutics, Inc., among others.
Chief executive, fiscal 2025
◇
Brett Monia
Median of the other named officers
$3,245,054
5 officers, excluding the chief executive
Latest say-on-pay support
=
June 4, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Brett Monia: $15,400,343 → $13,350,777 (13.3% lower)
CEO pay ratio: 70:1 → 44:1 (37.1% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Ionis Pharmaceuticals' chief executive and what were they paid?
Brett Monia was paid $13,350,777 in total compensation as Chief Executive Officer for fiscal 2025. Monia's total was 13.3% lower than the $15,400,343 reported for fiscal 2024.
What was Ionis Pharmaceuticals' say-on-pay result?
The say-on-pay proposal drew 96.4% of votes cast for or against in favor at the meeting held June 4, 2026 for fiscal 2025.
Which companies are in Ionis Pharmaceuticals' peer group?
Companies named in the disclosed peer group include Acadia Pharmaceuticals, Alkermes, Amicus Therapeutics, Apellis Pharmaceuticals and Axsome Therapeutics, Inc., among others.
What is Ionis Pharmaceuticals' chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 44:1, against median employee compensation of $304,680.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Brett Monia
Chief Executive Officer
◇◇◇◇——◇◇
Elizabeth Hougen
EVP, Finance and Chief Financial Officer
◇◇◇◇——◇◇
Richard Geary
EVP, Chief Development Officer
◇◇◇◇——◇◇
Eric Swayze
EVP, Research
◇◇◇◇——◇◇
Patrick O'Neil
EVP, Chief Legal Officer and General Counsel
◇◇◇◇——◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Brett Monia
Chief Executive Officer
◇◇◇◇——◇◇
Elizabeth Hougen
EVP, Finance and Chief Financial Officer
◇◇◇◇——◇◇
Richard Geary
EVP, Chief Development Officer
◇◇◇◇——◇◇
Patrick O'Neil
EVP, Chief Legal Officer and General Counsel
◇◇◇◇——◇◇
Eric Swayze
EVP, Research
◇◇◇◇——◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Brett Monia
Chief Executive Officer
◇◇◇◇——◇◇
Elizabeth Hougen
Executive Vice President, Finance and Chief Financial Officer
◇◇◇◇——◇◇
Richard Geary
Executive Vice President, Chief Development Officer
◇◇◇◇——◇◇
Brian Birchler
Executive Vice President, Corporate and Development Operations
◇◇◇◇——◇◇
Eric Swayze
Executive Vice President, Research
◇◇◇◇——◇◇
Patrick O'Neil
Executive Vice President, Chief Legal Officer and General Counsel
◇◇◇◇——◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Brett P. MoniaOPTION◇——◇—◇◇
Brett P. MoniaPSU◇◇◇—◇—◇
Brett P. MoniaRSU◇——◇——◇
Brian BirchlerOPTION◇——◇—◇◇
Brian BirchlerPSU◇◇◇—◇—◇
Brian BirchlerRSU◇——◇——◇
Elizabeth L. HougenOPTION◇——◇—◇◇
Elizabeth L. HougenRSU◇——◇——◇
Elizabeth L. HougenPSU◇◇◇—◇—◇
Eric SwayzeOPTION◇——◇—◇◇
Eric SwayzePSU◇◇◇—◇—◇
Eric SwayzeRSU◇——◇——◇
Patrick R. O'NeilOPTION◇——◇—◇◇
Patrick R. O'NeilPSU◇◇◇—◇—◇
Patrick R. O'NeilRSU◇——◇——◇
Richard S. GearyRSU◇——◇——◇
Richard S. GearyOPTION◇——◇—◇◇
Richard S. GearyPSU◇◇◇—◇—◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Richard GearyOption◇—◇1/2/2032
Option◇—◇1/1/2035
Option◇—◇1/1/2034
Option◇—◇1/2/2033
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Brian BirchlerRSU◇◇——
Option◇—◇1/2/2033
Option◇—◇1/1/2035
Option◇—◇3/19/2032
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇1/1/2034
Option◇—◇1/2/2032
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Elizabeth HougenRSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇1/1/2034
RSU◇◇——
Option◇—◇1/2/2033
Option◇—◇1/1/2035
RSU◇◇——
RSU◇◇——
Option◇—◇1/2/2032
RSU◇◇——
Brett MoniaOption◇—◇1/2/2033
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇1/1/2035
RSU◇◇——
RSU◇◇——
Option◇—◇1/1/2034
RSU◇◇——
Option◇—◇1/2/2032
Eric SwayzeOption◇—◇1/1/2035
Option◇—◇1/2/2032
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇1/2/2033
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇1/1/2034
Patrick O'NeilRSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇1/2/2032
RSU◇◇——
RSU◇◇——
Option◇—◇1/1/2035
RSU◇◇——
Option◇—◇1/2/2033
Option◇—◇1/1/2034
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Joseph H. Wender
◇◇◇———◇
Joseph Loscalzo
Board chair
◇◇◇———◇
Spencer R. Berthelsen
◇◇◇———◇
Joseph Klein III
◇◇◇———◇
Joan E. Herman
◇◇◇———◇
B. Lynne Parshall
◇◇◇———◇
Allene M. Diaz
◇◇◇———◇
Michael Hayden
◇◇◇———◇
Michael Yang
◇◇◇———◇
Brett P. Monia served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Board chair premium◇
Lead independent director premium◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance member◇
Equity is delivered as RSUs and Options.
Stock ownership guideline: 5x base annual cash retainer

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Acadia Pharmaceuticals ACAD
  • Alkermes ALKS
  • Amicus Therapeutics FOLD
  • Apellis Pharmaceuticals APLS
  • Axsome Therapeutics, Inc. AXSM
  • BioCryst Pharmaceuticals, Inc. BCRX
  • BioMarin Pharmaceuticals BMRN
  • Blueprint Medicines Corp BPMC
  • Corcept Therapeutics Inc. CORT
  • Exact Sciences Corp EXAS
  • Exelixis EXEL
  • Halozyme Therapeutics HALO
  • Incyte Corporation INCY
  • Insmed INSM
  • Jazz Pharmaceuticals JAZZ
  • Neurocrine Biosciences NBIX
  • PTC Therapeutics PTCT
  • Sarepta Therapeutics SRPT
  • Ultragenyx Pharmaceutical RARE
  • United Therapeutics UTHR

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025June 4, 2026=◇◇◇
2024June 5, 2025=◇◇◇
2023June 6, 2024=◇◇◇
2022June 1, 2023=◇◇◇
2021June 2, 2022=◇◇◇
2020June 2, 2021=◇◇◇
2019June 4, 2020=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact Ionis Pharmaceuticals disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Ionis Pharmaceuticals sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
380 figures on this page: 373 cited to the filing that reported them, 7 calculated from figures it prints.
373 cited to the filing
7 calculated from the filing

Documents cited

  1. 0001140361-26-024407
  2. 0001140361-26-016388
    CEO Pay Ratio · Director Compensation · Director Compensation for Fiscal 2025 · Grants of Plan-Based Awards · and 4 more sections
  3. 0001140361-25-022001
  4. 0001140361-25-015771
    Summary Compensation Table
  5. 0001140361-24-029588
  6. 0001140361-24-022103
    Summary Compensation Table
  7. 0001140361-23-028261
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001140361-22-022009
    Item 5.07 Submission of Matters to a Vote of Security Holders
  9. 0001140361-21-019925
  10. 0001140361-20-013453
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Velarion, “Ionis Pharmaceuticals executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/IONS (accessed 2026).
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Biopharma & Life Sciences rankings

Chief executive pay — Biopharma & Life SciencesCEO pay ratio — Biopharma & Life SciencesSay-on-pay support — Biopharma & Life Sciences

Peers Ionis Pharmaceuticals discloses

The companies named in IONS's own disclosed peer group.

Acadia PharmaceuticalsAlkermesAmicus TherapeuticsApellis PharmaceuticalsBioMarin PharmaceuticalsExelixisHalozyme TherapeuticsIncyte CorporationInsmedJazz PharmaceuticalsNeurocrine BiosciencesPTC TherapeuticsSarepta TherapeuticsUltragenyx PharmaceuticalUnited Therapeutics

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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