SEC Form 4 · accession 0001104659-18-055509
LIGAND PHARMACEUTICALS INC · LGND
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stephen L Sabba
Director
Period of report
Sep 4, 2018
Accepted (ET)
Sep 6, 2018 · 10:40 am 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 StockF1,F2 | Sep 4, 2018 | M | 2,500 | $8.58 | A | 29,356 | D | |
| Common StockF1,F2 | Sep 4, 2018 | M | 2,500 | $17.88 | A | 31,856 | D | |
| Common StockF2,F3 | Sep 4, 2018 | S | 5,000 | $255.05 | D | 26,856 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Qualified Stock Option (right to buy)F4,F5 | $8.58 | Sep 4, 2018 | M | 2,500 | D | — | May 25, 2020 | Common Stock | 2,500 | 0 | D |
| Non-Qualified Stock Option (right to buy)F4,F5 | $17.88 | Sep 4, 2018 | M | 2,500 | D | — | May 29, 2019 | Common Stock | 2,500 | 0 | D |
Explanation of responses
- F1The Reporting Person acquired these securities, as represented in Column 4, upon exercise of the options and at their respective per share exercise price reported on Table II, as follows: for the first row on Table I, at an exercise price of $8.58/option set forth on the first row on Table II, and for the second row on Table I, at an exercise price of $17.88/option set forth on the second row on Table II.
- F2These securities, as represented in Column 5, include a grant of 493 restricted shares in a transaction exempt from Section 16b treatment, as originally reported on a Form 4 filed June 21, 2018, which shares will vest in full on the earlier of (a) the date of the next annual meeting of the Company stockholders following the grant date or (b) on the first anniversary of the grant date.
- F3The price reported is based on an average share price from the following transactions: ((100 shares @ $255.64)+(100 shares @ $255.46)+(200 shares @ $255.45)+(200 shares @ $255.26)+(106 shares @ $255.16)+(4,294 shares @ $255.00))/5,000 shares. The Reporting Person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares and the sale prices for each of the foregoing transactions.
- F4These securities, as represented in Table II, were acquired in transactions exempt from 16b treatment: the options in the first row were originally granted on May 25, 2010 and those in the second row were originally granted on May 29, 2009 (as both were reported, at their respective exercise prices in Column 2 following the Company's stock split, on a Form 4 filed June 6, 2011).
- F5These securities are currently fully vested and exercisable, having vested in twelve successive equal monthly installments upon completion of each calendar month of service beginning as follows: for those on the first row of Table II, on May 25, 2010, and for those on the second row of Table II, on May 29, 2009.