Ligand (LGND) director exercises options, sells 6,461 common shares around $255–$256

Rhea-AI Filing Summary

Ligand Pharmaceuticals director Jason Haas reported a combination of option exercises and share sales in the company’s stock. On June 12, 2026, he sold a total of 6,461 shares of common stock in open-market transactions, with weighted-average prices around $255.01 and $256.08. According to footnotes, these sales occurred in multiple trades within price ranges of $255.00–$255.29 and $256.00–$256.51.

On the same date, Haas exercised non-qualified stock options covering 4,000 shares of common stock at an exercise price of $51.56 per share, converting derivative awards into directly held shares. The filing shows both the sales and the option exercises as direct ownership transactions.

Insights

Equity compensation and insider-trading analyst

Director combines option exercise with routine-sized open-market sales.

The filing shows director Jason Haas exercising non-qualified stock options for 4,000 shares of Ligand Pharmaceuticals common stock at an exercise price of $51.56 per share, then selling 6,461 shares in open-market transactions around $255–$256.

The mix of M-code (option exercise) and S-code (sale) transactions is typical for monetizing equity compensation. The derivativeSummary is empty, indicating no remaining derivative positions are listed in this filing from the reported grant. Overall, the events appear administrative rather than thesis-changing.

Footnotes clarify that reported prices are weighted averages over multiple trades within narrow intraday ranges. There is no mention of a Rule 10b5-1 trading plan in the excerpt, so timing context is limited. Subsequent company filings may offer broader context on total holdings and future equity awards.

Insider Trade Summary

Net Seller: 6,461 shares ($1,651,320)

Net Sell 6 txns

Insider Haas Jason

Role null

Sold 6,461 shs ($1.65M)

Type	Security	Shares	Price	Value
Exercise	Non-Qualified Stock Option (right to buy)	3,000	$0.00	--
Exercise	Non-Qualified Stock Option (right to buy)	1,000	$0.00	--
Exercise	Common Stock	3,000	$51.56	$155K
Exercise	Common Stock	1,000	$51.56	$52K
Sale	Common Stock	3,000	$255.0113	$765K
Sale	Common Stock	3,461	$256.0781	$886K

Holdings After Transaction: Non-Qualified Stock Option (right to buy) — 7,138 shares (Direct, null); Common Stock — 10,442 shares (Direct, null)

Footnotes (1)

1. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $255.0000 to $255.2900. The Reporting Person undertakes to provide the Registrant, any securityholder of the Registrant, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $256.0000 to $256.5100. The Reporting Person undertakes to provide the Registrant, any securityholder of the Registrant, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. This Option was previously reported as a Grant of 5,907 shares on June 29, 2022, at an exercise price of $88.48 per share, which becomes exercisable in three successive annual installments upon completion of each calendar year of service beginning on the grant date, but was adjusted pursuant to the OmniAb Inc. separation from the issuer.

Key Figures

Shares sold: 6,461 shares Sale price (block 1): $255.0113 per share Sale price (block 2): $256.0781 per share +4 more

7 metrics

Shares sold 6,461 shares Total common shares sold on June 12, 2026

Sale price (block 1) $255.0113 per share Weighted-average price for 3,000-share sale

Sale price (block 2) $256.0781 per share Weighted-average price for 3,461-share sale

Sale price range 1 $255.00–$255.29 Intraday range for one sale group per footnote F1

Sale price range 2 $256.00–$256.51 Intraday range for one sale group per footnote F2

Options exercised 4,000 shares Non-qualified stock options converted to common stock

Option exercise price $51.56 per share Exercise price for non-qualified options

Key Terms

Non-Qualified Stock Option (right to buy), weighted-average price, derivative security, open-market sale, +2 more

6 terms

Non-Qualified Stock Option (right to buy) financial

"security_title: "Non-Qualified Stock Option (right to buy)""

weighted-average price financial

"The price reported in Column 4 is a weighted-average price."

derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security""

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

open-market sale financial

"transaction_action: "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Non-derivative financial

"transaction_type: "non-derivative""

derivative financial

"transaction_type: "derivative""

A derivative is a financial contract whose value depends on the price or performance of another asset or measure — for example a stock, index, interest rate, commodity, or currency. Investors use derivatives like insurance or leveraged bets to hedge risk, speculate, or gain exposure without owning the underlying asset; they can protect portfolios but also amplify losses and introduce counterparty and market risk.

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Form 4 Insider Transactions: What Each Field Means →

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^*

Haas Jason

(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)
06/12/2026

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	06/12/2026		M		3,000	A	$51.56	10,442	D
Common Stock	06/12/2026		M		1,000	A	$51.56	11,442	D
Common Stock	06/12/2026		S		3,000	D	$255.0113(1)	8,442	D
Common Stock	06/12/2026		S		3,461	D	$256.0781(2)	4,981	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
Non-Qualified Stock Option (right to buy)	$51.56	06/12/2026		M			3,000	(3)	06/29/2032	Common Stock	3,000	$0.0	7,138	D
Non-Qualified Stock Option (right to buy)	$51.56	06/12/2026		M			1,000	(3)	06/29/2032	Common Stock	1,000	$0.0	6,138	D

Explanation of Responses:

1. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $255.0000 to $255.2900. The Reporting Person undertakes to provide the Registrant, any securityholder of the Registrant, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

2. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $256.0000 to $256.5100. The Reporting Person undertakes to provide the Registrant, any securityholder of the Registrant, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. This Option was previously reported as a Grant of 5,907 shares on June 29, 2022, at an exercise price of $88.48 per share, which becomes exercisable in three successive annual installments upon completion of each calendar year of service beginning on the grant date, but was adjusted pursuant to the OmniAb Inc. separation from the issuer.

	By: /s/ Andrew Reardon, Attorney-in-Fact For: Jason Haas	06/15/2026
	** 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)

FAQ

What did Ligand Pharmaceuticals (LGND) director Jason Haas report in this Form 4?

Jason Haas reported exercising stock options for 4,000 shares and selling 6,461 shares of Ligand Pharmaceuticals common stock. The sales were open-market transactions at weighted-average prices around $255–$256 per share on June 12, 2026, reflecting routine equity compensation activity.

How many Ligand (LGND) shares did Jason Haas sell and at what prices?

Jason Haas sold 6,461 Ligand common shares in open-market transactions. Weighted-average sale prices were $255.0113 and $256.0781 per share, with individual trades occurring within narrow ranges of $255.00–$255.29 and $256.00–$256.51, as detailed in the Form 4 footnotes.

What stock options did Jason Haas exercise in the Ligand (LGND) Form 4 filing?

Haas exercised non-qualified stock options covering 4,000 shares of Ligand common stock at an exercise price of $51.56 per share. These M-code transactions converted derivative awards into directly held common shares, consistent with typical equity compensation practices for directors and executives.

Were Jason Haas’s Ligand (LGND) share sales part of open-market transactions?

Yes, the Form 4 classifies both sale transactions with code S as open-market or private sales of common stock. Footnotes explain that reported prices are weighted averages across multiple trades executed within tight price ranges on June 12, 2026, rather than single-block transactions.

Does the Ligand (LGND) Form 4 show remaining stock options for Jason Haas?

The derivative section reports two option exercises and shows a derivative transaction count of two, with derivativeSummary empty. This indicates no additional derivative positions are listed in this particular Form 4 excerpt, though other unreported awards may exist outside this filing’s scope.