Ligand director Jason Aryeh sells 282 common shares

Funds managed by JALAA Equities, JLV Investments and affiliates held 8,000 shares indirectly.

Available on EDGAR 11/06/2026 - 05:42 PM EST Accepted by SEC EDGAR 11/06/2026 - 05:41 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Jason Aryeh, a director of Ligand Pharmaceuticals Inc. (LGND), sold 282 common shares on November 4, 2026, at $319.99 per share. He reported 108,476 shares held directly after the sale. Separately, funds managed by JALAA Equities, LP, JLV Investments, LP, and affiliates held 8,000 shares indirectly; Aryeh is a general partner of JALAA Equities and a partner of JLV Investments. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Net Seller: 282 shares

Net Sell 1 txn

Insider Aryeh Jason

Role Director

Sold 282 shs ($90K)

Share of Position Sold 0.26%

Type	Security	Shares	Price	Value
Sale	Common Stock	282	$319.99	$90K
Holding	Common Stock F1	--	--	--

Holdings After Transaction: Common Stock — 108,476 shares (Direct); Common Stock — 8,000 shares (Indirect, See Footnote)

Holdings Before and After: Common Stock, 108,758 to 108,476 shares (Direct)

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

Footnotes (1)

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

Common shares sold: 282 shares Sale price: $319.99 per share Direct shares following transaction: 108,476 shares +1 more

4 metrics

Common shares sold 282 shares Sale on November 4, 2026

Sale price $319.99 per share Sale on November 4, 2026

Direct shares following transaction 108,476 shares Reported after the sale on November 4, 2026

Indirect shares held by funds 8,000 shares Reported on November 4, 2026

Key Terms

beneficial owners, General Partner, Rule 16a-1

3 terms

beneficial owners regulatory

"may be deemed to be the beneficial owners"

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.

General Partner technical

"General Partner of JALAA Equities, LP"

A general partner is the person or firm that runs an investment partnership and legally represents it — they make the day-to-day decisions, choose which assets to buy or sell, and are responsible for the partnership’s obligations. Investors care because the general partner’s judgment, risk-taking and fee and profit-sharing arrangements determine both the potential returns and the level of exposure to losses; think of the GP as the ship’s captain whose skill and honesty shape the voyage’s outcome.

Rule 16a-1 regulatory

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

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 price?

Jason Aryeh sold 282 Ligand common shares at $319.99 per share on November 4, 2026. He reported 108,476 shares held directly after the sale, and no Rule 10b5-1 plan is reported.

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

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

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)
11/04/2026

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	11/04/2026		S		282	D	$319.99	108,476	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

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	11/06/2026
	** 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)