Ligand director sells 2,145 shares after option exercise
Ligand Pharmaceuticals director Stephen L. Sabba reported an exercise-and-sell stock transaction.
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Form Type
4
Rhea-AI Filing Summary
Ligand Pharmaceuticals director Stephen L. Sabba reported an exercise-and-sell stock transaction. He exercised a non-qualified stock option covering 2,145 shares of common stock at an exercise price of $66.13 per share and then sold 2,145 shares in an open-market transaction at $254.00 per share on June 16, 2026.
Following these transactions, Sabba directly holds 33,629 shares of Ligand common stock. The exercised option grant, originally for 2,456 shares and later adjusted to 2,145 shares with a $66.13 exercise price after the OmniAb Inc. separation, has been fully exercised, leaving no remaining derivative position from that grant.
Insider Trade Summary
Exercise and Sale: 2,145 shares ($403K approx. pre-tax spread)
Exercise and Sale
3 txns
Insider
Sabba Stephen L
Role
Director
Sold
2,145 shs ($545K)
Approx. gross sale proceeds
$545K
Approx. exercise cost
$142K
Approx. pre-tax spread
$403K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Non-Qualified Stock Option (right to buy) | 2,145 | $0.00 | $0.00 |
| Exercise | Common Stock | 2,145 | $66.13 | $142K |
| Sale | Common Stock | 2,145 | $254.00 | $545K |
Holdings After Transaction:
Non-Qualified Stock Option (right to buy) — 0 contracts (Direct);
Common Stock — 33,629 shares (Direct)
Footnotes (2)
- F1. These securities, as represented in Column 5, include the grant of 836 restricted shares approved by the Board of Directors of the Company at the 2026 Meeting held 5 June 2026, which shares were previously reported on a Form 4 for this Reporting Person dated 9 June 2026.
- F2. These securities, as represented in Column 5, were acquired by a grant of 2,456 shares approved by the Board of Directors of the Company at the 2017 Meeting, as previously reported on the Reporting Person's Form 4, dated 30 May 2017. That grant vested in full on the first anniversary of the grant date or immediately (x) upon a change in control or a hostile takeover of the Company or (y) the death or permanent disability of the grantee if still serving at that time. The original grant was adjusted to 2,145 shares and the exercise price adjusted to $66.13 pursuant to the OmniAb Inc. separation from the Company.
Key Figures
Shares sold: 2,145 shares
Sale price: $254.00 per share
Shares exercised: 2,145 shares
+3 more
6 metrics
Shares sold
2,145 shares
Open-market sale of common stock on June 16, 2026
Sale price
$254.00 per share
Price for 2,145 common shares sold
Shares exercised
2,145 shares
Non-qualified stock option exercise on June 16, 2026
Exercise price
$66.13 per share
Exercise price of adjusted option grant
Shares held after
33,629 shares
Direct Ligand common stock holdings after transactions
Original option grant size
2,456 shares
Grant later adjusted to 2,145 shares post-OmniAb separation
Key Terms
Non-Qualified Stock Option (right to buy), open-market sale, derivative exercise/conversion, restricted shares, +2 more
6 terms
Non-Qualified Stock Option (right to buy) financial
"security_title: "Non-Qualified Stock Option (right to buy)""
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.
derivative exercise/conversion financial
"transaction_action: "derivative exercise/conversion""
change in control financial
"vested in full on the first anniversary ... or immediately (x) upon a change in control"
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
hostile takeover financial
"or a hostile takeover of the Company"
An attempt by an outside party to gain control of a company without the consent of its current leaders, usually by buying a large number of shares from investors or persuading shareholders to replace the board. It matters to investors because it can rapidly change management, strategy and risk profile, often causing sharp swings in the stock price and creating potential for a takeover premium or costly disruptions—like someone trying to take over a club by convincing members to change its leadership.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Stephen L. Sabba report at Ligand Pharmaceuticals (LGND)?
Stephen L. Sabba reported exercising options for 2,145 Ligand shares and selling 2,145 shares in an open-market transaction. Both actions occurred on June 16, 2026, and were reported on a Form 4 insider filing.
What option grant did Stephen L. Sabba exercise in this Ligand (LGND) Form 4 filing?
He exercised a non-qualified stock option for 2,145 Ligand common shares at an exercise price of $66.13. This option grant was originally 2,456 shares and was adjusted to 2,145 shares and $66.13 after the OmniAb Inc. separation.
Was the Ligand (LGND) option grant to Stephen L. Sabba previously disclosed?
Yes. The option grant underlying the 2,145 shares was originally approved at a 2017 Board meeting and previously reported on a Form 4 dated May 30, 2017. Its terms and later adjustments were described in the footnotes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
