Ligand CFO acquires shares via employee plan

Ligand Pharmaceuticals’ Chief Financial Officer Octavio Espinoza reported a small, routine share acquisition under an employee plan.

Rhea-AI Filing Summary

Ligand Pharmaceuticals’ Chief Financial Officer Octavio Espinoza reported a small, routine share acquisition under an employee plan. On the transaction date, he acquired 17 shares of common stock at a price of $160.7095 per share through the Ligand Employee Stock Purchase Plan, in a transaction exempt under Rule 16b-3(d) and Rule 16b-3(c). Following this, he directly holds 27,696 shares of common stock, indicating the move is a minor adjustment within his overall equity position rather than a significant market transaction.

Insider Trade Summary

Other: 17 shares

Other 1 txn

Insider Espinoza Octavio

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Other	Common Stock	17	$160.7095	$3K

Holdings After Transaction: Common Stock — 27,696 shares (Direct)

Footnotes (1)

1. F1. These shares were acquired under the Ligand Employee Stock Purchase Plan in transactions that were exempt under both Rule 16b-3(d) and Rule 16b-3(c).

Key Figures

Shares acquired: 17 shares Acquisition price: $160.7095 per share Shares held after transaction: 27,696 shares

3 metrics

Shares acquired 17 shares Common stock acquired under Employee Stock Purchase Plan

Acquisition price $160.7095 per share Price paid for ESPP shares

Shares held after transaction 27,696 shares Direct ownership following ESPP acquisition

Key Terms

Employee Stock Purchase Plan, Rule 16b-3(d), Rule 16b-3(c)

3 terms

Employee Stock Purchase Plan financial

"These shares were acquired under the Ligand Employee Stock Purchase Plan in transactions that were exempt..."

An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.

Rule 16b-3(d) regulatory

"transactions that were exempt under both Rule 16b-3(d) and Rule 16b-3(c)."

Rule 16b-3(d) is a narrow SEC safe-harbor that shields company insiders (officers, directors and large shareholders) from liability for short‑swing profits when their buys or sells of company stock are made under a pre-established, written plan or contract that removes the insider’s ability to time trades. For investors, this matters because it permits predictable, automated insider transactions — like scheduled sales for diversification or payroll withholding — without triggering forced disgorgement, so such planned trades are treated differently from opportunistic insider trading.

Rule 16b-3(c) regulatory

"transactions that were exempt under both Rule 16b-3(d) and Rule 16b-3(c)."

An SEC rule that lets corporate insiders avoid automatic "short‑swing" profit recovery when they buy or sell their company’s stock under a pre‑approved, written plan that meets specific conditions. For investors, it matters because it clarifies when insider trades are treated as routine, reducing legal uncertainty and helping distinguish trades made for ordinary compensation or pre‑planned reasons from those that might signal opportunistic or timely insider advantage.

FAQ

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

What insider transaction did LGND CFO Octavio Espinoza report?

Ligand’s CFO Octavio Espinoza reported acquiring 17 shares of common stock. The shares were obtained through the Ligand Employee Stock Purchase Plan as a routine, compensation-related equity transaction rather than an open-market trade.

At what price did the LGND CFO acquire the reported shares?

The 17 Ligand common shares were acquired at $160.7095 per share. This price reflects the cost under the Employee Stock Purchase Plan, which facilitates regular stock purchases for eligible employees, including executives.

How many LGND shares does the CFO hold after this transaction?

After the transaction, CFO Octavio Espinoza directly holds 27,696 shares of Ligand common stock. The additional 17 shares represent a very small increase relative to his existing position, suggesting a routine plan-based purchase.

What is the significance of Rule 16b-3(d) and 16b-3(c) in this LGND filing?

The filing notes the shares were acquired under exemptions in Rule 16b-3(d) and Rule 16b-3(c). These provisions generally exempt certain employee benefit and compensation-related transactions from short-swing profit rules, highlighting this as a routine equity compensation event.

Was the LGND CFO’s Form 4 transaction an open-market buy or sale?

The transaction was not an open-market buy or sale. Instead, the 17 shares were acquired through the Ligand Employee Stock Purchase Plan, making it a plan-based, compensation-related acquisition rather than discretionary trading in the market.

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

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Accepted by SEC EDGAR 07/06/2026 - 05:11 PM EDT 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^*

Espinoza Octavio

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2026

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	06/30/2026		J(1)		17	A	$160.7095	27,696	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:

1. These shares were acquired under the Ligand Employee Stock Purchase Plan in transactions that were exempt under both Rule 16b-3(d) and Rule 16b-3(c).

	By: /s/ Andrew Reardon, Attorney-in-Fact For: Octavio Espinoza	07/06/2026
	** 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)