JOHN L. HIGGINS - 17 Nov 2022 Form 4 Insider Report for LIGAND PHARMACEUTICALS INC (LGND)

Role: Chief Executive Officer, Director
Signature: /s/ Andrew Reardon, Attorney-in-Fact for John L. Higgins
Issuer symbol: LGND
Transactions as of: 17 Nov 2022
Net transactions value: -$655,373
Form type: 4
Filing time: 21 Nov 2022, 18:04:42 UTC
Previous filing: 03 Nov 2022
Next filing: 01 Dec 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LGND	Common Stock	Sale	$783,173	-10,000	-2.3%	$78.32	416,731	17 Nov 2022	Direct	F1
transaction	LGND	Common Stock	Options Exercise	$127,800	+10,000	+2.4%	$12.78^*	426,731	18 Nov 2022	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	LGND	Non-Qualified Stock Option (right to buy)	Options Exercise	$0	-10,000	-20%	$0.000000	40,335	18 Nov 2022	Common Stock	10,000	$12.78	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The sale reported on this Form 4 was made pursuant to a written trading plan adopted by the Reporting Person on September 22, 2022, in accordance with Rule 10b5-1.
F2	Grant to reporting person of options, exercisable over a 4-year period measured from the date of grant, 12-1/2% after six months, then 1/48th of the Option Shares per month thereafter. The original date of grant was 02/15/13.