Octavio Espinoza - 16 Dec 2025 Form 4 Insider Report for LIGAND PHARMACEUTICALS INC (LGND)

Role
Chief Financial Officer
Signature
By: /s/ Andrew Reardon, Attorney-in-Fact For: Octavio Espinoza
Issuer symbol
LGND
Transactions as of
16 Dec 2025
Net transactions value
+$164,298
Form type
4
Filing time
18 Dec 2025, 16:19:42 UTC
Previous filing
16 Dec 2025
Next filing
06 Jan 2026
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Espinoza Octavio Chief Financial Officer 555 HERITAGE DRIVE, SUITE 200, JUPITER By: /s/ Andrew Reardon, Attorney-in-Fact For: Octavio Espinoza 18 Dec 2025 0001905248

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LGND Common Stock Options Exercise $63,091 +1,194 +4.6% $52.84 27,380 16 Dec 2025 Direct
transaction LGND Common Stock Options Exercise $3,948 +69 +0.25% $57.22 27,449 16 Dec 2025 Direct
transaction LGND Common Stock Options Exercise $18,132 +285 +1% $63.62 27,734 16 Dec 2025 Direct
transaction LGND Common Stock Options Exercise $60,408 +652 +2.4% $92.65 28,386 16 Dec 2025 Direct
transaction LGND Common Stock Options Exercise $18,719 +181 +0.64% $103.42 28,567 16 Dec 2025 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 -1,194 -55% $0.000000 972 16 Dec 2025 Common Stock 1,194 $52.84 Direct F1
transaction LGND Employee Stock Option (right to buy) Options Exercise $0 -69 -0.95% $0.000000 7,171 16 Dec 2025 Common Stock 69 $57.22 Direct F2
transaction LGND Employee Stock Option (right to buy) Options Exercise $0 -285 -1.5% $0.000000 18,171 16 Dec 2025 Common Stock 285 $63.62 Direct F3
transaction LGND Employee Stock Option (right to buy) Options Exercise $0 -652 -21% $0.000000 2,405 16 Dec 2025 Common Stock 652 $92.65 Direct F4
transaction LGND Employee Stock Option (right to buy) Options Exercise $0 -181 -4.1% $0.000000 4,186 16 Dec 2025 Common Stock 181 $103.42 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The stock option vests as to approximately 55% of the underlying shares in 12 substantially equal monthly installments beginning on January 5, 2025, and approximately 45% of the underlying shares in two substantially equal monthly installments thereafter.
F2 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.
F3 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.
F4 The stock option is fully vested and exercisable.
F5 The stock option vests as to 50% of the underlying shares on January 3, 2025 and as to the remaining on February 3, 2025.