Ligand Pharmaceuticals Files Form 3/A to Update CFO Share Count

Rhea-AI Filing Summary

Form 3/A filing for Ligand Pharmaceuticals Inc. (LGND) discloses an amended initial beneficial ownership statement for Chief Financial Officer Octavio Espinoza.

• Date of event: 11/01/2022 (original Form 3 date); amendment filed 07/02/2025.
• Shares owned: 1,696 shares of LGND common stock reported as directly held.
• Purpose of amendment: Corrects the original Form 3, which inadvertently understated Mr. Espinoza’s direct holdings by exactly 1,696 shares. The correction also updates related Form 4 reports filed through the amendment date.
• Reporting person’s role: Officer – Chief Financial Officer.

No derivative securities are reported, and there are no other changes to ownership structure, relationships, or control disclosed in this filing.

Insights

Corporate Governance Expert

TL;DR: Minor administrative correction; negligible market impact.

This Form 3/A simply adds 1,696 LGND common shares to the CFO’s disclosed direct holdings, rectifying an earlier understatement. The filing does not indicate new purchases or option exercises; it is a clerical adjustment. Because the share count is small relative to Ligand’s float and no strategic information accompanies the filing, the market impact is expected to be immaterial. Still, it reinforces reporting accuracy under Section 16(a) and slightly improves alignment between the CFO and shareholders.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Espinoza Octavio

Role Chief Financial Officer

Type	Security	Shares	Price	Value
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 1,696 shares (Direct)

Footnotes (1)

1. F1. This amendment (the "Amendment") is being filed to correct the Form 3 filed with the Securities and Exchange Commission on November 1, 2022 (the "Original Form 3"), which inadvertently understated the Reporting Person's direct holdings of Ligand Pharmaceuticals, Inc. common stock ("Common Stock") by 1,696 shares. This Form 3/A is deemed to update the number of securities reported as beneficially owned in any Forms 4 subsequently filed by the reporting person through the date hereof.

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Accepted by SEC EDGAR 07/02/2025 - 07:03 PM Learn about SEC filing dates

FAQ

Why did Ligand Pharmaceuticals (LGND) file this Form 3/A amendment?

To correct the original Form 3 dated 11/01/2022, which understated CFO Octavio Espinoza’s direct ownership by 1,696 shares.

How many LGND shares does CFO Octavio Espinoza now report owning?

He reports direct ownership of 1,696 common shares.

Does the amendment disclose any derivative securities or options?

No. Table II lists no derivative securities for the reporting person.

Will this correction affect previous Form 4 filings?

Yes. The amendment states it is deemed to update the share numbers in any Forms 4 filed by the reporting person through the amendment date.

Is Octavio Espinoza a director or officer of Ligand Pharmaceuticals?

He is an officer and serves as the company’s Chief Financial Officer.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Espinoza Octavio

(Last) (First) (Middle)

555 HERITAGE DRIVE

SUITE 200

(Street)

JUPITER FL 33458

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
11/01/2022

3. Issuer Name and Ticker or Trading Symbol
LIGAND PHARMACEUTICALS INC [ LGND ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

5. If Amendment, Date of Original Filed (Month/Day/Year)
07/02/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	1,696(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. This amendment (the "Amendment") is being filed to correct the Form 3 filed with the Securities and Exchange Commission on November 1, 2022 (the "Original Form 3"), which inadvertently understated the Reporting Person's direct holdings of Ligand Pharmaceuticals, Inc. common stock ("Common Stock") by 1,696 shares. This Form 3/A is deemed to update the number of securities reported as beneficially owned in any Forms 4 subsequently filed by the reporting person through the date hereof.

	By: /s/ Andrew Reardon, Attorney-in-Fact For: Octavio Espinoza	07/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.