LGND director sells 2,501 shares after option exercise
LIGAND PHARMACEUTICALS INC director John W. Kozarich reported a combination of option exercises and open-market sales of common stock.
Rhea-AI Filing Summary
LIGAND PHARMACEUTICALS INC director John W. Kozarich reported a combination of option exercises and open-market sales of common stock. He exercised non-qualified stock options covering 2,034 shares at an exercise price of $69.5100 per share and sold 2,501 shares in multiple transactions at prices around $223–$234 per share. The filing shows he directly owned 41,786 common shares after the reported transactions. All trades were executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 7, 2025, indicating they were scheduled in advance rather than timed discretionarily.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and sale activity reported; no spread calculated
Exercise and Sale
11 txns
Insider
KOZARICH JOHN W
Role
Director
Sold
2,501 shs ($563K)
Approx. gross sale proceeds
$563K
Approx. exercise cost
$141K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Non-Qualified Stock Option (right to buy) | 1,575 | $0.00 | $0.00 |
| Exercise | Common Stock | 1,575 | $69.51 | $109K |
| Sale | Common Stock | 1,575 | $223.50 | $352K |
| Exercise | Non-Qualified Stock Option (right to buy) | 459 | $0.00 | $0.00 |
| Exercise | Common Stock | 459 | $69.51 | $32K |
| Sale | Common Stock | 459 | $224.00 | $103K |
| Sale | Common Stock | 80 | $227.3675 | $18K |
| Sale | Common Stock | 1 | $229.87 | $229.87 |
| Sale | Common Stock | 165 | $231.8671 | $38K |
| Sale | Common Stock | 105 | $232.5704 | $24K |
| Sale | Common Stock | 116 | $234.0853 | $27K |
Holdings After Transaction:
Non-Qualified Stock Option (right to buy) — 0 contracts (Direct);
Common Stock — 41,786 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 $227.1550 to $227.5800. 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 $231.1200 to $232.0700. 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 $232.2000 to $232.9300. 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 $233.6800 to $234.2400. 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. This Option was previously reported as a Grant of 2,329 shares, which vested in full on May 23, 2017, at an exercise price of $119.3000 per share but was adjusted pursuant to the OmniAb Inc. separation from the issuer.
Key Figures
Shares sold: 2,501 shares
Option shares exercised: 2,034 shares
Exercise price: $69.5100 per share
+4 more
7 metrics
Shares sold
2,501 shares
Total common shares sold across reported S-code trades
Option shares exercised
2,034 shares
Total underlying shares from M-code option exercises
Exercise price
$69.5100 per share
Non-qualified stock option exercise price for LGND common stock
Post-transaction holdings
41,786 shares
Common stock directly owned after reported transactions
Sale price example
$223.5000 per share
Open-market sale of 1,575 common shares on May 13, 2026
Sale price example
$224.0000 per share
Open-market sale of 459 common shares on May 12, 2026
Weighted-average sale range
$227.1550–$227.5800
Price range for one set of aggregated May 1, 2026 sales
Key Terms
Rule 10b5-1, Non-Qualified Stock Option (right to buy), weighted-average price, derivative security
4 terms
Rule 10b5-1 regulatory
"transactions reported on this Form 4 were made pursuant to a written trading plan ... 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.
Non-Qualified Stock Option (right to buy) financial
"security_title: "Non-Qualified Stock Option (right to buy)" with underlying common stock"
weighted-average price financial
"The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions"
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.
derivative security financial
"transaction_code_description: "Exercise or conversion of derivative security" for option exercises"
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.
FAQ
What insider transactions did LGND director John W. Kozarich report?
John W. Kozarich reported exercising options for 2,034 LGND shares and selling 2,501 shares in open-market trades. These combined actions adjusted his position while leaving him with 41,786 directly held shares after the reported transactions.
At what prices did John W. Kozarich sell LGND stock on this Form 4?
He sold LGND common stock in multiple trades at prices generally around $223–$234 per share. Individual transactions include prices such as $223.5000, $224.0000 and weighted-average prices within disclosed ranges in the detailed footnotes.
Were John W. Kozarich’s LGND stock sales made under a Rule 10b5-1 plan?
Yes. The Form 4 footnotes state the transactions were made under a written trading plan adopted on March 7, 2025, in accordance with Rule 10b5-1, indicating the trades were pre-arranged rather than opportunistic.
What types of securities did John W. Kozarich transact in for LGND?
He exercised non-qualified stock options, a form of derivative security, and traded the underlying LGND common stock. The options related to 2,034 underlying common shares, which were converted and then partly sold in open-market transactions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
