SEC Form 4 · accession 0000886163-18-000041
LIGAND PHARMACEUTICALS INC · LGND
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Charles S Berkman
Officer — SVP, Gen. Counsel & Secretary
Period of report
Mar 2, 2018
Accepted (ET)
Mar 6, 2018 · 6:36 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 Stock | Mar 2, 2018 | A | 1,780 | $0.00 | A | 26,839 | D | |
| Common StockF1 | Mar 6, 2018 | A | 1,136 | $0.00 | A | 27,975 | D | |
| Common StockF2 | Mar 6, 2018 | F | 392 | $165.87 | D | 27,583 | 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)F3 | $159.01 | Mar 2, 2018 | A | 9,292 | A | — | Mar 2, 2028 | Common Stock | 9,292 | 9,292 | D |
Explanation of responses
- F1Represents 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 02/11/2016 and were eligible to vest based on the Issuer?s achievement of certain performance objectives during the two-year performance period ending December 31, 2017. On March 05, 2018, 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.
- F2Represents shares withheld by the Issuer in payment of the tax liability arising in connection with the settlement of the PSUs.
- F3Grant to reporting person of options to purchase shares of common stock ("Option Shares"), exerciseable over a 4-year period measured from the date of grant, 12-1/2% after six months, then 1/48th of the Option Shares per month thereafter. The date of grant is 03/02/18.