JOHN L. HIGGINS - 12 Dec 2022 Form 4 Insider Report for LIGAND PHARMACEUTICALS INC (LGND)

Role: Director
Signature: /s/ Andrew Reardon, Attorney-in-Fact for John L. Higgins
Issuer symbol: LGND
Transactions as of: 12 Dec 2022
Net transactions value: +$28.8
Form type: 4
Filing time: 14 Dec 2022, 16:00:25 UTC
Previous filing: 01 Dec 2022
Next filing: 20 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	Options Exercise	$255,600	+20,000	+4.8%	$12.78^*	436,928	12 Dec 2022	Direct
transaction	LGND	Common Stock	Disposed to Issuer	$255,571	-3,944	-0.9%	$64.80	432,984	12 Dec 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	-20,000	-50%	$0.000000	20,335	12 Dec 2022	Common Stock	20,000	$12.78	Direct	F1

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

Explanation of Responses:

Id	Content
F1	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.