Form 4 - Statement of changes in beneficial ownership of securities

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

Korenberg Matthew E

(Last)

(First)

(Middle)

555 HERITAGE DRIVE

SUITE 200

(Street)

JUPITER

33458

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
LIGAND PHARMACEUTICALS INC [ LGND ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President & COO

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2024

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	09/16/2024		M		914	A	$55.75	50,424	D
Common Stock	09/16/2024		F		485	D	$105	49,939	D
Common Stock	09/16/2024		M		849	A	$58.49	50,788	D
Common Stock	09/16/2024		F		472	D	$105	50,316	D
Common Stock	09/16/2024		M		671	A	$49.99	50,987	D
Common Stock	09/16/2024		F		319	D	$105	50,668	D
Common Stock	09/16/2024		M		3,340	A	$60.94	54,008	D
Common Stock	09/16/2024		F		1,938	D	$105	52,070	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Employee Stock Option (right to buy)	$49.99⁽¹⁾	09/16/2024		M			671	⁽¹⁾	02/11/2026	Common Stock	671	$0.0	5,377	D
Employee Stock Option (right to buy)	$55.75⁽²⁾	09/16/2024		M			914	⁽²⁾	02/13/2030	Common Stock	914	$0.0	25,949	D
Employee Stock Option (right to buy)	$58.49⁽³⁾	09/16/2024		M			849	⁽³⁾	02/24/2027	Common Stock	849	$0.0	12,452	D
Employee Stock Option (right to buy)	$60.94⁽⁴⁾	09/16/2024		M			3,340	⁽⁴⁾	08/06/2025	Common Stock	3,340	$0.0	18,500	D

Explanation of Responses:

1. This Option was previously reported as a Grant of 18,464 shares on February 11, 2016, which vested in full on February 11, 2020, at an exercise price of $85.79 per share, but was adjusted pursuant to the OmniAb Inc. separation from the issuer.

2. This Option was previously reported as a Grant of 30,750 shares on February 13, 2020, at an exercise price of $95.68 per share , but was adjusted pursuant to the OmniAb Inc. separation from the issuer, then vested in full on February 13, 2024.

3. This Option was previously reported as a Grant of 15,225 shares on February 24, 2017, which vested in full on February 24, 2021, at an exercise price of $100.38 per share, but was adjusted pursuant to the OmniAb Inc. separation from the issuer.

4. This Option was previously reported as a Grant of 25,000 shares on August 06, 2015, which vested in full on August 06, 2019, at an exercise price of $104.59 per share, but was adjusted pursuant to the OmniAb Inc. separation from the issuer.

	By: /s/ Andrew Reardon, Attorney-in-Fact For: Matthew E. Korenberg	09/18/2024
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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