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Filing Details

Accession Number:: 0001104659-18-055509
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2018-09-06 10:40:26
Reporting Period:: 2018-09-04

Accepted Time:: 2018-09-06 10:40:26
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
886163	Ligand Pharmaceuticals Inc	LGND	Pharmaceutical Preparations (2834)	770160744

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1442372	L Stephen Sabba	Dorset Management Corp 485 Underhill Blvd Suite 205 Syosset NY 11791		Yes	No	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2018-09-04	2,500	$8.58	29,356	No	4	M	Direct
Common Stock	Acquisiton	2018-09-04	2,500	$17.88	31,856	No	4	M	Direct
Common Stock	Disposition	2018-09-04	5,000	$255.05	26,856	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	M	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Non-Qualified Stock Option (right to buy)	Disposition	2018-09-04	2,500	$0.00	2,500	$8.58
Common Stock	Non-Qualified Stock Option (right to buy)	Disposition	2018-09-04	2,500	$0.00	2,500	$17.88

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0		2020-05-25	No	4	M	Direct
0		2019-05-29	No	4	M	Direct

Footnotes

The 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.
These 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.
The 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.
These 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).
These 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.