Andrew Reardon - May 9, 2024 Form 4 Insider Report for LIGAND PHARMACEUTICALS INC (LGND)

Role: Chief Legal Officer &
Signature: /s/ Andrew Reardon
Stock symbol: LGND
Transactions as of: May 9, 2024
Transactions value $: -$307,749
Form type: 4
Date filed: 5/13/2024, 05:32 PM
Previous filing: Feb 29, 2024
Next filing: Jul 2, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LGND	Common Stock	Options Exercise	$523K	+10K	+45.03%	$52.27	32.2K	May 9, 2024	Direct
transaction	LGND	Common Stock	Sale	-$830K	-10K	-31.05%	$83.04	22.2K	May 9, 2024	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)	Options Exercise	$0	-10K	-13.71%	$0.00	62.9K	May 9, 2024	Common Stock	10K	$52.27	Direct	F2

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

Explanation of Responses:

Id	Content
F1	The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $83.00 to $83.27. The Reporting Person undertakes to provide the Registrant, any securityholder of the Registrant, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F2	The stock option vests and is exercisable as to 12.5% of the underlying shares on February 1, 2023, and in 42 substantially equal monthly installments thereafter.

Content

The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $83.00 to $83.27. The Reporting Person undertakes to provide the Registrant, any securityholder of the Registrant, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The stock option vests and is exercisable as to 12.5% of the underlying shares on February 1, 2023, and in 42 substantially equal monthly installments thereafter.