Stephen L. Sabba - Jun 4, 2021 Form 4 Insider Report for LIGAND PHARMACEUTICALS INC (LGND)

Role: Director
Signature: /s/Stephen L. Sabba
Stock symbol: LGND
Transactions as of: Jun 4, 2021
Transactions value $: $0
Form type: 4
Date filed: 6/8/2021, 02:26 PM
Next filing: Jun 14, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LGND	Common Stock	Award	$0	+630	+2.58%	$0.00	25.1K	Jun 4, 2021	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	Non-Qualified Stock Option (right to buy)	Award	$0	-3.27K	-50%	$0.00	3.27K	Jun 4, 2021	Common Stock	3.27K	$115.39	Direct	F2
holding	LGND	Non-Qualified Stock Option (right to buy)						2.47K	Jun 4, 2021	Common Stock	2.47K	$117.58	Direct	F3

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

Explanation of Responses:

Id	Content
F1	These securities, as represented in Column 5, include a grant of 630 restricted shares approved by the Board of Directors of the Company at the 2021 Meeting, which shares will vest in full on the earlier of (a) the date of the next annual meeting of the Company stockholders following the grant date or (b) on the first anniversary of the grant date.
F2	These securities, as represented in Column 5, were acquired by a grant of 3,269 shares approved by the Board of Directors of the Company at the 2021 Meeting. That grant (a) vests in full on the earlier of (i) the date of the next annual meeting of the Company stockholders following the grant date or (ii) on the first anniversary of the grant date, and (b) will vest immediately (i) upon a change in control or a hostile takeover of the Company or (ii) the death or permanent disability of the grantee if still serving at that time.
F3	These securities, as represented in Column 5, were acquired by a grant of 2,468 shares approved by the Board of Directors of the Company at the 2020 Meeting and are fully vested and exerciseable as more fully described on a Form 4 for this Reporting Person filed on June 12, 2020.