SEC Form 4 · accession 0001104659-15-059968

LIGAND PHARMACEUTICALS INC · LGND

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

David M Knott

Director

Period of report

Aug 12, 2015

Accepted (ET)

Aug 14, 2015 · 12:53 pm EDT

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^F1,F3	Aug 12, 2015	S	800	$96.4543	D	971,300	I	By Knott Partners, L.P.
Common Stock^F1,F3	Aug 12, 2015	S	9,875	$96.4543	D	223,486	I	By Shoshone Partners, L.P.
Common Stock^F1,F3	Aug 12, 2015	S	2,600	$96.4543	D	37,996	I	By Knott Partners Offshore Master Fund, L.P.
Common Stock^F1,F3	Aug 13, 2015	S	2,000	$96.1957	D	969,300	I	By Knott Partners, L.P.
Common Stock^F1,F3	Aug 13, 2015	S	27,300	$96.1957	D	196,186	I	By Shoshone Partners, L.P.
Common Stock^F1,F3	Aug 13, 2015	S	7,225	$96.1957	D	30,771	I	By Knott Partners Offshore Master Fund, L.P.
Common Stock^F2,F3	holding	—	—		—	1,666	I	By Managed Account C
Common Stock	holding	—	—		—	70,152	D
Common Stock^F2,F3	holding	—	—		—	1,843	I	By immediate family member

Table II — derivative securities

No Table II lines on this filing.

Explanation of responses

F1The Reporting Person is the managing member of Knott Partners Management, LLC, which is (a) the sole general partner of Shoshone Partners, L.P., and Knott Partners Offshore Master Fund, L.P. and (b) the managing general partner of Knott Partners, L.P. The Reporting Person is also a general partner of Knott Partners, L.P.
F2The Reporting Person is the sole director and the president of Dorset Management Corporation, which provides investment management services to separate institutional managed accounts (each, a "Managed Account"), and (b) the spouse of the immediate family member (the "Spouse").
F3As a result of the Reporting Person's interests in Knott Partners Management, LLC and in Dorset Management Corporation, the Reporting Person has investment discretion and control over the securities in this entry. Except with respect to those securities held by the Spouse, the Reporting Person may be deemed indirectly to beneficially own the securities in this entry as a result of a performance related fee. Except with respect to the Reporting Person's beneficial interest in Knott Partners, L.P., Knott Partners Offshore Master Fund, L.P., and Shoshone Partners, L.P., the Reporting Person disclaims beneficial ownership of the securities beneficially owned by the Managed Account, except to the extent ultimately realized. Each of Knott Partners, L.P., Knott Partners Offshore Master Fund, L.P., Shoshone Partners, L.P., the Managed Account and the Spouse disclaims beneficial ownership of securities reported as owned by any other party.