Ligand director sells 467 shares in planned trades
Ligand Pharmaceuticals director John W. Kozarich reported selling a total of 467 shares of common stock on April 1, 2026 in a series of open-market transactions.
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Form Type
4
Rhea-AI Filing Summary
Ligand Pharmaceuticals director John W. Kozarich reported selling a total of 467 shares of common stock on April 1, 2026 in a series of open-market transactions. The reported weighted-average sale prices ranged from about $199.97 to $204.26 per share.
These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 7, 2025. After the sales, Kozarich directly holds 42,253 shares of Ligand Pharmaceuticals common stock.
Insider Trade Summary 10b5-1
Net Seller: 467 shares
Net Sell
5 txns
Insider
KOZARICH JOHN W
Role
Director
Sold
467 shs ($94K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 146 | $199.9749 | $29K |
| Sale | Common Stock | 40 | $201.235 | $8K |
| Sale | Common Stock | 79 | $202.4223 | $16K |
| Sale | Common Stock | 43 | $202.9122 | $9K |
| Sale | Common Stock | 159 | $204.2627 | $32K |
Holdings After Transaction:
Common Stock — 42,253 shares (Direct)
Footnotes (6)
- F1. The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on March 07, 2025, in accordance with Rule 10b5-1.
- F2. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $199.6900 to $200.3150. 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.
- F3. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $201.0050 to $201.4650. 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.
- F4. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $202.0750 to $202.6400. 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.
- F5. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $202.8550 to $203.6550. 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.
- F6. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $204.0050 to $204.5400. 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.
Key Figures
Shares sold: 467 shares
Post-sale holdings: 42,253 shares
Reported sale prices: $199.9749–$204.2627 per share
+3 more
6 metrics
Shares sold
467 shares
Total common shares sold on April 1, 2026
Post-sale holdings
42,253 shares
Common shares directly held after transactions
Reported sale prices
$199.9749–$204.2627 per share
Weighted-average prices for five sale entries
Underlying trade price range
$199.6900–$204.5400 per share
Price ranges disclosed in footnotes F2–F6
Number of sale transactions
5 transactions
Non-derivative open-market sales reported
Trading plan adoption date
March 7, 2025
Rule 10b5-1 plan governing the April 1, 2026 sales
Key Terms
Rule 10b5-1, weighted-average price, open-market sale, trading plan
4 terms
Rule 10b5-1 regulatory
"adopted by the Reporting Person on March 07, 2025, in accordance with Rule 10b5-1"
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.
weighted-average price financial
"The price reported in Column 4 is a weighted-average price."
Weighted-average price is the average of multiple prices where each price is counted according to its size or importance—larger trades carry more weight than smaller ones, like averaging course grades by credit hours. It matters to investors because it gives a more realistic picture of the true price paid or received, helping assess trade execution, compare performance, calculate cost basis, and value positions more accurately than a simple average.
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.
trading plan financial
"made pursuant to a written trading plan adopted by the Reporting Person"
A trading plan is a written set of rules an investor follows about what to buy or sell, when to enter and exit positions, and how much risk to accept—like a travel itinerary that maps the route, stops, and budget before a trip. It matters because it helps remove emotional decisions during market swings, enforces discipline, and makes performance easier to review and improve, reducing the chance of costly impulsive moves.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did LGND director John W. Kozarich report?
Director John W. Kozarich reported selling 467 shares of Ligand Pharmaceuticals common stock in multiple open-market transactions on April 1, 2026. The sales were executed at weighted-average prices around $200–$204 per share, and were made under a pre-arranged trading plan.
Were John W. Kozarich’s LGND stock sales made under a Rule 10b5-1 plan?
Yes. A footnote explains that the transactions were executed pursuant to a written trading plan adopted on March 7, 2025, in accordance with Rule 10b5-1. Such plans pre-schedule trades, indicating the timing of these sales was determined in advance.
How many individual transactions are reported in this LGND Form 4?
The Form 4 reports five separate open-market sale transactions in Ligand Pharmaceuticals common stock on April 1, 2026. Each line item lists a distinct share amount and weighted-average price, together totaling 467 shares sold and reflecting multiple executions within stated price ranges.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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