Ligand Pharmaceuticals (LGND) director sells 467 shares under 10b5-1 plan

Rhea-AI Filing Summary

Ligand Pharmaceuticals director John W. Kozarich sold 467 shares of common stock in a planned transaction. The sales occurred on February 2, 2026 at prices ranging from $191.00 to $197.195 per share in several small trades.

After these sales, Kozarich directly beneficially owned 43,187 shares of Ligand common stock. The filing notes that the transactions were executed under a written trading plan adopted on March 7, 2025 in accordance with Rule 10b5-1, which allows pre-arranged trading by insiders.

Insider Trade Summary

Net Seller: 467 shares ($91,490)

Net Sell 5 txns

Insider KOZARICH JOHN W

Role Director

Sold 467 shs ($91K)

Type	Security	Shares	Price	Value
Sale	Common Stock	39	$191.00	$7K
Sale	Common Stock	1	$192.18	$192.18
Sale	Common Stock	23	$195.605	$4K
Sale	Common Stock	381	$196.3634	$75K
Sale	Common Stock	23	$197.195	$5K

Holdings After Transaction: Common Stock — 43,615 shares (Direct)

Footnotes (1)

1. 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. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $196.0100 to $196.8400. 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.

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).

X

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^*

KOZARICH JOHN W

(Last) (First) (Middle)

555 HERITAGE DRIVE

SUITE 200

(Street)

JUPITER FL 33458

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
02/02/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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	02/02/2026		S		39(1)	D	$191	43,615	D
Common Stock	02/02/2026		S		1(1)	D	$192.18	43,614	D
Common Stock	02/02/2026		S		23(1)	D	$195.605	43,591	D
Common Stock	02/02/2026		S		381(1)	D	$196.3634(2)	43,210	D
Common Stock	02/02/2026		S		23(1)	D	$197.195	43,187	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. 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.

2. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $196.0100 to $196.8400. 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.

	By: s/ Andrew Reardon, Attorney-in-Fact For: John W. Kozarich	02/04/2026
	** 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.

FAQ

What insider transaction did LGND report for February 2, 2026?

Ligand Pharmaceuticals reported that director John W. Kozarich sold 467 shares of common stock on February 2, 2026. The transactions were split across multiple trades at prices between $191.00 and $197.195 per share, as disclosed in a Form 4 insider filing.

Who is the insider involved in the latest LGND Form 4 filing?

The insider is John W. Kozarich, a director of Ligand Pharmaceuticals. He reported several small open-market sales of the company’s common stock on February 2, 2026, totaling 467 shares, all held and transacted in a direct ownership capacity.

How many LGND shares does John W. Kozarich own after the reported sales?

After the reported transactions, director John W. Kozarich beneficially owned 43,187 shares of Ligand Pharmaceuticals common stock. This figure reflects his direct holdings immediately following the February 2, 2026 sales disclosed in the Form 4 filing.

At what prices were the LGND shares sold in the February 2, 2026 transactions?

The Ligand shares were sold at prices ranging from $191.00 to $197.195 per share. One 381-share block used a weighted-average price of $196.3634, with individual trades within that block occurring between $196.0100 and $196.8400 per share.

Was the LGND insider sale made under a Rule 10b5-1 trading plan?

Yes. The Form 4 states that the February 2, 2026 transactions were executed under a written trading plan adopted on March 7, 2025, in accordance with Rule 10b5-1, which permits pre-arranged trading by company insiders.

Is John W. Kozarich a 10% owner of LGND according to this filing?

No. The Form 4 identifies John W. Kozarich as a director of Ligand Pharmaceuticals but does not mark him as a 10% owner. The relationship box is checked only for his role as a director of the company.