Octavio Espinoza - May 15, 2024 Form 4 Insider Report for LIGAND PHARMACEUTICALS INC (LGND)

Signature
By: /s/ Andrew Reardon, Attorney-in-Fact For: Octavio Espinoza
Stock symbol
LGND
Transactions as of
May 15, 2024
Transactions value $
-$761,357
Form type
4
Date filed
5/17/2024, 07:59 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 Sale -$505K -5.87K -19.74% $86.01 23.9K May 15, 2024 Direct F1
transaction LGND Common Stock Sale -$195K -2.26K -9.48% $86.00 21.6K May 16, 2024 Direct F2
transaction LGND Common Stock Options Exercise $11.8K +206 +0.95% $57.22 21.8K May 17, 2024 Direct
transaction LGND Common Stock Options Exercise $98.2K +1.54K +7.07% $63.62 23.4K May 17, 2024 Direct
transaction LGND Common Stock Options Exercise $9.97K +145 +0.62% $68.74 23.5K May 17, 2024 Direct
transaction LGND Common Stock Options Exercise $265K +5.02K +21.36% $52.84 28.5K May 17, 2024 Direct
transaction LGND Common Stock Sale -$435K -5.02K -17.6% $86.67 23.5K May 17, 2024 Direct F3
transaction LGND Common Stock Sale -$11.6K -134 -0.57% $86.65 23.4K May 17, 2024 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 Employee Stock Option (right to buy) Options Exercise $0 -206 -2.67% $0.00 7.52K May 17, 2024 Common Stock 206 $57.22 Direct F4
transaction LGND Employee Stock Option (right to buy) Options Exercise $0 -1.54K -7.72% $0.00 18.5K May 17, 2024 Common Stock 1.54K $63.62 Direct F5
transaction LGND Incentive Stock Option (right to buy) Options Exercise $0 -145 -100% $0.00* 0 May 17, 2024 Common Stock 145 $68.74 Direct F6
transaction LGND Non-Qualified Stock Option (right to buy) Options Exercise $0 -5.02K -23.69% $0.00 16.2K May 17, 2024 Common Stock 5.02K $52.84 Direct F7
* 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 $86.0000 to $86.1500. 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 price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $86.0000 to $86.0350. 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.
F3 The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $86.0300 to $86.8200. 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.
F4 As per the separation of OmniAb Inc. from the issuer, 4,096 stock options were vested and exercisable as of November 1, 2022, whereas 3,766 options vest in 23 substantially equal monthly installments beginning on December 1, 2022.
F5 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.
F6 The stock option vests as to 50% of the underlying shares on January 11, 2023 and as to the remaining on February 11, 2023.
F7 The stock option vests and is exercisable as to approximately 14% of the underlying shares on August 5, 2022, approximately 64% of the underlying shares in 28 substantially equal monthly installments beginning on September 5, 2022, and approximately 22% of the underlying shares in 12 substantially equal monthly installments thereafter.