Ligand director sells 1,200 shares at $285

LIGAND PHARMACEUTICALS INC (LGND) director Martine Zimmermann reported selling 1,200 shares of common stock on September 10, 2026 in an open market or private transaction at $285.00 per share.

Rhea-AI Filing Summary

LIGAND PHARMACEUTICALS INC (LGND) director Martine Zimmermann reported selling 1,200 shares of common stock on September 10, 2026 in an open market or private transaction at $285.00 per share. After this sale, Zimmermann directly holds 3,897 shares of LGND common stock, and no Rule 10b5-1 trading plan is reported.

Insider Trade Summary

Net Seller: 1,200 shares

Net Sell 1 txn

Insider Zimmermann Martine

Role Director

Sold 1,200 shs ($342K)

Type	Security	Shares	Price	Value
Sale	Common Stock	1,200	$285.00	$342K

Holdings After Transaction: Common Stock — 3,897 shares (Direct)

Key Figures

Shares sold: 1,200 shares Sale price per share: $285.00 per share Shares held after transaction: 3,897 shares +1 more

4 metrics

Shares sold 1,200 shares Common Stock sale reported for September 10, 2026

Sale price per share $285.00 per share Price for the 1,200-share sale on September 10, 2026

Shares held after transaction 3,897 shares Direct holdings of Martine Zimmermann following the sale

Net shares sold 1,200 shares Net sell activity in this Form 4

Key Terms

Common Stock, open market or private transaction, Rule 10b5-1

3 terms

Common Stock financial

"The transaction involved Common Stock of Ligand Pharmaceuticals."

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

open market or private transaction financial

"Described as a sale in open market or private transaction."

Rule 10b5-1 regulatory

"No Rule 10b5-1 trading plan is reported in connection with this sale."

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did LGND director Martine Zimmermann report?

Zimmermann reported a sale of 1,200 shares of Ligand Pharmaceuticals (LGND) common stock on September 10, 2026 in an open market or private transaction.

At what price were the LGND shares sold by the director?

The 1,200 Ligand Pharmaceuticals (LGND) shares were sold at a price of $285.00 per share, as reported in the Form 4 filing.

How many LGND shares does Martine Zimmermann hold after the reported sale?

Following the sale, Martine Zimmermann directly holds 3,897 shares of Ligand Pharmaceuticals (LGND) common stock.

Was the LGND insider sale made under a Rule 10b5-1 trading plan?

No. The filing indicates that no Rule 10b5-1 trading plan is reported in connection with this transaction.

What type of security did the LGND director sell in this Form 4?

The transaction involved Common Stock of Ligand Pharmaceuticals (LGND), with 1,200 shares sold and 3,897 shares remaining held directly afterward.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/14/2026 - 05:01 PM Accepted by SEC EDGAR 09/14/2026 - 04:59 PM Learn about SEC filing dates

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Zimmermann Martine

(Last) (First) (Middle)

555 HERITAGE DRIVE

SUITE 200

(Street)

JUPITER FLORIDA 33458

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/10/2026

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

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

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/10/2026		S		1,200	D	$285	3,897	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	By: /s/ Andrew Reardon, Attorney-in-Fact For: Martine Zimmermann	09/14/2026
	** 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 4 (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.
* Form 4: SEC 1474 (03-26)