Ligand Pharma SEC Filings

Jason Aryeh, a director of Ligand Pharmaceuticals (LGND), reported the sale of 10,000 shares of Ligand common stock on 09/23/2025. The sales occurred in multiple transactions at weighted-average prices reported in three groupings: $170.4051 (range $169.6625–$170.6600), $170.9643 (range $170.6850–$171.6050), and $171.9237 (range $171.7250–$172.2400).

After these transactions Mr. Aryeh directly beneficially owned between 69,289 and 74,871 shares across the reported lines and retains indirect holdings of 51,594 shares through funds managed by JALAA Equities, LP/JLV Investments, LP and 5,025 shares held by a trust. The Form 4 was signed on 09/24/2025 by an attorney-in-fact.

Martine Zimmermann, a director of Ligand Pharmaceuticals (LGND), reported a disposal of company common stock related to tax withholding on 09/22/2025. The Form 4 shows 115 shares were withheld at an effective price of $170.77 per share to satisfy tax obligations arising from the settlement of restricted stock units, leaving Ms. Zimmermann with 4,443 shares beneficially owned on a direct basis. The filing was signed by an attorney-in-fact on behalf of the reporting person on 09/24/2025. The entry is a routine insider tax-withholding transaction rather than an active market sale.

Form 144 notice for proposed sale of 10,000 common shares by an insider through Morgan Stanley Smith Barney LLC. The filing states the aggregate market value of the shares to be sold is $1,708,087.44 based on 10,000 shares, with approximately 19,596,560 shares outstanding for the issuer. The approximate date of sale is listed as 09/23/2025. The filer reports no securities sold in the past three months. Acquisition details show the 10,000 shares were acquired in multiple lots between 06/04/2022 and 06/06/2025 via restricted stock grants and exercised share transactions, with specific lot sizes and payment methods noted where applicable.

Form 144 notice for Ligand Pharmaceuticals, Inc. (LGNZZ): An insider filed to sell 10,000 shares of the company's common stock through Charles Schwab & Co., with an approximate aggregate market value of $1,685,000. The filing reports the shares were acquired in the open market on October 9, 2014 (payment dated October 1, 2014) and the proposed sale date is September 17, 2025 on NASDAQ. The filing states there were 19,596,560 shares outstanding, and no securities were sold by the filer in the past three months. The filer certifies no undisclosed material information is known.

John W. Kozarich, a director of Ligand Pharmaceuticals Inc. (LGND), reported share dispositions on 09/02/2025 made pursuant to a written Rule 10b5-1 trading plan adopted March 07, 2025. The Form 4 discloses sales executed on that date with weighted-average prices in three ranges: $161.03–$162.02, $162.36–$162.60, and $163.99–$164.50. The filings list disposals associated with those transactions and include a signature by an attorney-in-fact on 09/04/2025. The filer states it will provide, upon request, full breakdowns of shares sold at each price within the disclosed ranges.

Form 144 notice by an individual shareholder of Ligand Pharmaceuticals, Inc. (LGND) reporting proposed sale of common stock. The filer intends to sell 467 shares through UBS Financial Services on Nasdaq, with an aggregate market value of $75,518 and an approximate sale date of 09/02/2025. The securities were acquired on 06/09/2023 from the issuer and 467 shares are listed as the amount to be sold. The filing also discloses two recent sales by the same person in the past three months: 934 shares on 07/10/2025 for $116,750 and 467 shares on 08/01/2025 for $61,614.49. The form includes the required signature representation that the seller is not aware of undisclosed material adverse information.

Ligand Pharmaceuticals disclosed the terms of a new convertible debt and related option transactions. The company issued 0.75% Convertible Senior Notes due 2030 under an Indenture dated August 14, 2025. Holders may convert notes into cash, shares of common stock or a combination, subject to conversion triggers including a common stock trading threshold of at least 130% of the conversion price for 20 of 30 trading days, specified measurement-period pricing tests (below 98% thresholds) and certain corporate events; unrestricted conversion is permitted on or after July 1, 2030 until shortly before maturity. Ligand separately entered into Purchased Options covering approximately 2.36 million common shares at an initial strike of about $194.79 per share; these options are intended to reduce potential dilution or offset cash payments tied to conversions. Exhibits include the Indenture, form of Global Note, confirmations for hedge and warrant transactions, and press releases dated August 11 and August 14, 2025. The filing is signed by Andrew Reardon, Chief Legal Officer and Secretary.

Janus Henderson Group plc reports a significant passive holding in Ligand Pharmaceuticals common stock, totaling 1,060,734 shares (5.5% of the class). The filing identifies Janus Henderson indirect subsidiaries, with JHIUS reported as beneficial owner of 990,102 shares (5.1%), and indicates these positions are managed by registered investment adviser subsidiaries for managed portfolios. The filer certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.