Matthew E. Korenberg - 13 Dec 2022 Form 4 Insider Report for LIGAND PHARMACEUTICALS INC (LGND)

Role: President & COO
Signature: /s/ Andrew Reardon, Attorney-in-Fact for Matthew E. Korenberg
Issuer symbol: LGND
Transactions as of: 13 Dec 2022
Net transactions value: $0
Form type: 4
Filing time: 15 Dec 2022, 17:17:27 UTC
Previous filing: 01 Dec 2022
Next filing: 27 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	Award	$0	+14,000	+17%	$0.000000	96,428	13 Dec 2022	Direct	F1

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	Employee Stock Option (right to buy)	Award	$0	+30,000		$0.000000	30,000	13 Dec 2022	Common Stock	30,000	$63.62	Direct	F2

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

Explanation of Responses:

Id	Content
F1	Represents restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's common stock. The RSUs shall vest over three years, in three equal annual installments on December 5, 2023; December 5, 2024; and December 5, 2025, subject to the Reporting Person's continued service to the Issuer through each such vesting date.
F2	Grant to reporting person of stock options that will vest and become exercisable over a 4-year period measured from December 5, 2022, with 12-1/2% of the shares subject to the stock options vesting on the date that is six months after December 5, 2022 and the remaining stock options vesting in 42 equal monthly installments thereafter.