SEC Form 4 · accession 0002001011-26-000115

LIGAND PHARMACEUTICALS INC · LGND

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

Reporting owner

Octavio Espinoza

Officer — Chief Financial Officer

Period of report

Aug 12, 2026

Accepted (ET)

Aug 14, 2026 · 5:05 pm EDT

Rule 10b5-1 plan

yes — trade under a plan

Issuer CIK

0000886163

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I
Common Stock^F1	Aug 12, 2026	M	16,179	$52.84	A	43,875	D
Common Stock^F1	Aug 12, 2026	M	2,074	$70.04	A	45,949	D
Common Stock^F1	Aug 12, 2026	M	2,869	$55.75	A	48,818	D
Common Stock^F1	Aug 12, 2026	M	7,171	$57.22	A	55,989	D
Common Stock^F1	Aug 12, 2026	M	3,348	$68.74	A	59,337	D
Common Stock^F1,F2	Aug 12, 2026	S	31,641	$292.065	D	27,696	D

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	D/I
Employee Stock Option (right to buy)^F1,F3	$55.75	Aug 12, 2026	M	2,869	D	—	Feb 13, 2030	Common Stock	2,869	D
Employee Stock Option (right to buy)^F1,F4	$57.22	Aug 12, 2026	M	7,171	D	—	Oct 1, 2030	Common Stock	7,171	D
Non-Qualified Stock Option (right to buy)^F1,F5	$52.84	Aug 12, 2026	M	16,179	D	—	May 5, 2032	Common Stock	16,179	D
Non-Qualified Stock Option (right to buy)^F1,F6	$68.74	Aug 12, 2026	M	3,348	D	—	Feb 11, 2029	Common Stock	3,348	D
Non-Qualified Stock Option (right to buy)^F1,F7	$70.04	Aug 12, 2026	M	2,074	D	—	Feb 1, 2029	Common Stock	2,074	D

Explanation of responses

F1The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on May 13, 2026, in accordance with Rule 10b5-1.
F2The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $292.0098 to $292.0846. The Reporting Person undertakes to provide the Registrant, any securityholder of the Registrant, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F3The original grant of 4,039 stock options vests and is exercisable as to approximately 15% of the underlying shares on August 13, 2020, approximately 70% of the underlying shares in 28 substantially equal monthly installments beginning on September 13, 2020, and approximately 15% of the underlying shares in 12 substantially equal monthly installments thereafter.
F4The stock option vests and is exercisable as to approximately 14% of the underlying shares on April 1, 2021, approximately 73% of the underlying shares in 32 substantially equal monthly installments on May 5, 2021, and approximately 13% of the underlying shares in 10 substantially equal monthly installments thereafter.
F5The stock option vests and is exercisable as to approximately 14% of the underlying shares on August 5, 2022, approximately 64% of the underlying shares in 28 substantially equal monthly installments beginning on September 5, 2022, and approximately 22% of the underlying shares in 12 substantially equal monthly installments thereafter.
F6The stock option vests and is exercisable as to approximately 13% of the underlying shares on August 11, 2019, and the remaining of the underlying shares in 40 substantially equal monthly installments thereafter.
F7The stock option vests and is exercisable as to approximately 16% of the underlying shares on August 1, 2019, approximately 74% of the underlying shares in 28 substantially equal monthly installments beginning on September 1, 2019, and approximately 10% of the underlying shares in 12 substantially equal monthly installments thereafter.