SEC Form 4 · accession 0000886163-17-000028
LIGAND PHARMACEUTICALS INC · LGND
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John L Higgins
Officer — Chief Executive Officer · Director
Period of report
Feb 15, 2017
Accepted (ET)
Feb 28, 2017 · 6:26 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000886163
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 15, 2017 | F | 2,285 | $104.28 | D | 120,379 | D | |
| Common StockF2 | Feb 15, 2017 | F | 2,019 | $104.28 | D | 118,360 | D | |
| Common StockF3 | Feb 24, 2017 | A | 9,168 | $0.00 | A | 127,528 | D | |
| Common StockF4 | Feb 24, 2017 | F | 4,783 | $100.38 | D | 122,745 | D | |
| Common Stock | Feb 24, 2017 | A | 10,224 | $0.00 | A | 132,969 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F5 | $100.38 | Feb 24, 2017 | A | 43,646 | A | — | Feb 24, 2027 | Common Stock | 43,646 | 43,646 | D |
Explanation of responses
- F1Represents shares withheld to satisfy tax withholding obligations upon the vesting of previously reported restricted stock units that were granted on 02/10/2015.
- F2Represents shares withheld to satisfy tax withholding obligations upon the vesting of previously reported restricted stock units that were granted on 02/11/2016.
- F3Represents the number of shares of common stock issued upon the vesting of performance stock units (PSUs). Each PSU represented a contingent right to receive one share of the Issuer?s common stock. The PSUs were originally granted on 02/10/2015 and were eligible to vest based on the Issuer?s achievement of certain performance objectives during the two-year performance period ending December 31, 2016. On February 24, 2017, the Compensation Committee of the Board of Directors of the Issuer certified the Issuer?s achievement relative to the applicable performance objectives and approved the vesting of the PSUs with respect to these shares.
- F4Represents shares withheld by the Issuer in payment of the tax liability arising in connection with the settlement of the PSUs.
- F5Grant to reporting person of options, exercisable over a 4-year period measured from the date of grant, 12-1/2% after six months, then 1/48th of the Optioned Shares per month thereafter.