Reardon Andrew 4

4 · LIGAND PHARMACEUTICALS INC · Filed Mar 27, 2026

AI-generated summary of this filing

Updated Mar 28, 2026

Ligand (LGND) CLO Andrew Reardon Receives Equity Award

What Happened

Andrew Reardon, Chief Legal Officer & Secretary of Ligand Pharmaceuticals (LGND), received equity awards on March 2, 2026: a grant of 4,513 shares (stock option award) and a derivative award of 21,525 restricted stock units (RSUs). Both awards were issued at $0.00 (typical for compensation grants); combined they represent 26,038 shares subject to vesting and plan terms.

Key Details

Transaction date: March 2, 2026. Form 4 filed March 27, 2026 (filed late relative to the typical 2-business-day requirement).
Reported acquisition amounts and prices: 4,513 shares @ $0.00; 21,525 shares (derivative) @ $0.00. Cash paid = $0.
Shares owned after transaction: not specified in the provided filing excerpt.
Footnotes: F1 = 21,525 RSUs; vest in three substantially equal annual installments on Feb 15, 2027, 2028, 2029; delivery of shares upon vesting has been deferred under Ligand’s Nonqualified Deferred Compensation Plan. F2 = the stock option grant vests 12.5% after 6 months, then in 42 substantially equal monthly installments thereafter.
Filing timeliness: The Form 4 was filed 25 days after the transaction date and is considered late (may be marked “L” in databases).

Context

These are compensation grants (not open-market purchases or sales). Grants are recorded at $0 because they are awards, not cash purchases; they do not by themselves indicate immediate buying or selling pressure. The RSUs and option award are subject to multi-year vesting schedules and deferred delivery, so any potential impact on share supply or insider holdings will occur over time as vesting and delivery happen.

Form 4

Period: 2026-03-02

CLO & Secretary

Transactions

Award
Common Stock
[F1]
2026-03-02+4,513→ 41,382 total
Award
Employee Stock Option (right to buy)
[F2]
2026-03-02+21,525→ 21,525 total
Exercise: $202.55Exp: 2036-03-02→ Common Stock (21,525 underlying)

Footnotes (2)

[F1]Represents restricted stock units (RSUs). Each RSU represents a contingent right to receive one share of the Issuer's common stock. The RSUs shall vest over three years, in three substantially equal annual installments on February 15, 2027, February 15, 2028 and February 15, 2029, subject to the Reporting Person's continued service to the Issuer through each such vesting date. Pursuant to an election under the Issuer's Nonqualified Deferred Compensation Plan, delivery of shares otherwise issuable upon each vesting date will be deferred.
[F2]The Stock Option grant vests and is exercisable as to 12.5% of the underlying shares 6 months after the grant date, and in 42 substantially equal monthly installments thereafter.

Signature

/s/Andrew Reardon|2026-03-27

1 file