Ligand Pharmaceuticals director sells 3,000 shares

Q: How many LGND shares did director Jason Aryeh sell, and at what prices?

Jason Aryeh reported six direct sales totaling 3,000 shares on November 10, 2026. The reported prices were $319.9900, $319.9950, $320.0000, $320.0200, $320.1000 and $320.2000 per share. No Rule 10b5-1 plan is reported for the sales.

Q: What indirect LGND shares are listed for Jason Aryeh?

A separate holding entry lists 8,000 common shares held by certain funds managed by JALAA Equities, LP, JLV Investments, LP and affiliates. Jason Aryeh is the general partner of JALAA Equities and a partner of JLV Investments, and may be deemed a beneficial owner of those shares under Rule 16a-1.

Available on EDGAR 11/12/2026 - 04:49 PM EST Accepted by SEC EDGAR 11/12/2026 - 04:49 PM EST

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Form Type

Rhea-AI Filing Summary

Jason Aryeh, a director of Ligand Pharmaceuticals Inc. (LGND), reported six direct sales of common stock on November 10, 2026, totaling 3,000 shares. The six reported prices were $319.9900, $319.9950, $320.0000, $320.0200, $320.1000 and $320.2000 per share; no Rule 10b5-1 plan is reported for the sales. Separately, 8,000 shares are listed as indirectly held by certain funds managed by JALAA Equities, LP, JLV Investments, LP and affiliates. Aryeh may be deemed a beneficial owner of those shares under Rule 16a-1.

Insider Trade Summary

Net Seller: 3,000 shares

Net Sell 6 txns

Insider Aryeh Jason

Role Director

Sold 3,000 shs ($960K)

Share of Position Sold 2.8%

Type	Security	Shares	Price	Value
Sale	Common Stock	500	$319.99	$160K
Sale	Common Stock	844	$319.995	$270K
Sale	Common Stock	646	$320.00	$207K
Sale	Common Stock	10	$320.02	$3K
Sale	Common Stock	500	$320.10	$160K
Sale	Common Stock	500	$320.20	$160K
Holding	Common Stock ^F1	--	--	--

Holdings After Transaction: Common Stock — 105,476 shares (Direct); Common Stock — 8,000 shares (Indirect, See Footnote)

Holdings Before and After: Common Stock, 108,476 to 105,476 shares (Direct)

Other Insiders: 1 other insider reported open-market sales of this stock in the 30 days up to this filing.

Footnotes (1)

F1. These shares are held by certain funds managed by JALAA Equities, LP, JLV Investments, LP and affiliates (the Funds). Jason Aryeh is the General Partner of JALAA Equities, LP and a partner of JLV Investments, LP. By reason of the provisions of Rule 16a-1 under the Securities Exchange Act of 1934, as amended, JALAA Equities, LP, JLV Investments, LP and affiliates and Mr. Aryeh may be deemed to be the beneficial owners of the securities beneficially owned by the Funds.

Key Figures

Shares sold: 3,000 shares Sale price for 500 shares: $319.9900 per share Sale price for 844 shares: $319.9950 per share +5 more

8 metrics

Shares sold 3,000 shares Six direct sales of common stock on November 10, 2026

Sale price for 500 shares $319.9900 per share Direct sale on November 10, 2026

Sale price for 844 shares $319.9950 per share Direct sale on November 10, 2026

Sale price for 646 shares $320.0000 per share Direct sale on November 10, 2026

Sale price for 10 shares $320.0200 per share Direct sale on November 10, 2026

Sale price for 500 shares $320.1000 per share Direct sale on November 10, 2026

Sale price for 500 shares $320.2000 per share Direct sale on November 10, 2026

Indirect fund holdings 8,000 shares Common stock held indirectly by funds managed by JALAA Equities, LP, JLV Investments, LP and affiliates

Key Terms

Rule 16a-1, beneficial owners

2 terms

Rule 16a-1 regulatory

"By reason of the provisions of Rule 16a-1 under the Securities Exchange Act of 1934"

beneficial owners regulatory

"may be deemed to be the beneficial owners of the securities beneficially owned by the Funds"

Beneficial owners are the people or entities that actually enjoy the economic benefits and control of shares or other assets, even when legal title is held by someone else such as a broker, custodian or trustee. Investors pay attention because beneficial owners hold the real voting power, receive dividends and can influence strategy and takeover outcomes — like the driver of a car who uses and maintains it while the bank holds the title — so disclosure shows who truly controls and benefits.

FAQ

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

How many LGND shares did director Jason Aryeh sell, and at what prices?

Jason Aryeh reported six direct sales totaling 3,000 shares on November 10, 2026. The reported prices were $319.9900, $319.9950, $320.0000, $320.0200, $320.1000 and $320.2000 per share. No Rule 10b5-1 plan is reported for the sales.

What indirect LGND shares are listed for Jason Aryeh?

A separate holding entry lists 8,000 common shares held by certain funds managed by JALAA Equities, LP, JLV Investments, LP and affiliates. Jason Aryeh is the general partner of JALAA Equities and a partner of JLV Investments, and may be deemed a beneficial owner of those shares under Rule 16a-1.

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

Form 4 Insider Transactions: What Each Field Means →

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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^*

Aryeh Jason

(Last)

(First)

(Middle)

7111 FAIRWAY DRIVE

SUITE 302

(Street)

PALM BEACH GARDENS

FLORIDA

33418

(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)
11/10/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	11/10/2026		S		500	D	$319.99	107,976	D
Common Stock	11/10/2026		S		844	D	$319.995	107,132	D
Common Stock	11/10/2026		S		646	D	$320	106,486	D
Common Stock	11/10/2026		S		10	D	$320.02	106,476	D
Common Stock	11/10/2026		S		500	D	$320.1	105,976	D
Common Stock	11/10/2026		S		500	D	$320.2	105,476	D
Common Stock								8,000	I	See Footnote⁽¹⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. These shares are held by certain funds managed by JALAA Equities, LP, JLV Investments, LP and affiliates (the Funds). Jason Aryeh is the General Partner of JALAA Equities, LP and a partner of JLV Investments, LP. By reason of the provisions of Rule 16a-1 under the Securities Exchange Act of 1934, as amended, JALAA Equities, LP, JLV Investments, LP and affiliates and Mr. Aryeh may be deemed to be the beneficial owners of the securities beneficially owned by the Funds.

Remarks:

	By: /s/ Andrew Reardon, Attorney-in-Fact For: Jason Aryeh	11/12/2026
	** 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)

Source: View Original Filing on SEC EDGAR