Octavio Espinoza - 11 Mar 2026 Form 4 Insider Report for LIGAND PHARMACEUTICALS INC (LGND)

Signature
By: /s/ Andrew Reardon, Attorney-in-Fact For: Octavio Espinoza
Issuer symbol
LGND
Transactions as of
11 Mar 2026
Net transactions value
-$687,825
Form type
4
Filing time
13 Mar 2026, 19:29:34 UTC
Previous filing
06 Mar 2026

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 13 Mar 2026 0001905248

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LGND Common Stock Options Exercise +2,405 +11% $92.65* 24,067 11 Mar 2026 Direct F1
transaction LGND Common Stock Sale $687,825 -3,057 -13% $225.00 21,010 11 Mar 2026 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) Options Exercise -2,405 -100% $0.000000* 0 11 Mar 2026 Common Stock 2,405 $92.65 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on November 19, 2025, in accordance with Rule 10b5-1.
F2 The stock option is fully vested and exercisable.