Ligand Pharmaceuticals (LGND) director awarded RSUs and options in new equity grants
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Sabba Stephen L reported acquisition or exercise transactions in this Form 4 filing.
Ligand Pharmaceuticals director Stephen L. Sabba received new equity awards. On June 5, 2026, he was granted 836 restricted stock units, each representing one share of common stock, and 2,938 non-qualified stock options with a strike price of $237.00 per share.
Both the RSUs and options fully vest on the earlier of the company’s next annual stockholder meeting following the grant date or the first anniversary of the grant date. Following the stock grant, Sabba directly holds 33,629 shares of Ligand common stock, plus the newly granted options expiring on June 5, 2036.
Positive
- None.
Negative
- None.
Insights
Director received routine equity grants in RSUs and options as board compensation.
Director Stephen L. Sabba received 836 RSUs and 2,938 non-qualified stock options at an exercise price of $237.00 per share. These are compensation-related awards from the board, not open-market purchases or sales, so they carry limited signaling value about his view of the stock.
The awards vest on the earlier of the next annual stockholder meeting or the first anniversary of the grant, aligning director incentives with shareholders over roughly a one-year horizon. After the grant, he directly owns 33,629 common shares, indicating he retains a meaningful equity stake while adding option-based upside potential.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Sabba Stephen L
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Non-Qualified Stock Option (right to buy) | 2,938 | $0.00 | -- |
| Grant/Award | Common Stock | 836 | $0.00 | -- |
Holdings After Transaction:
Non-Qualified Stock Option (right to buy) — 2,938 shares (Direct, null);
Common Stock — 33,629 shares (Direct, null)
Footnotes (1)
- Represents restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's common stock. Acquired by a grant of the Board of Directors of the Company at their annual meeting on June 5, 2026. Fully vests on the earlier of (A) the date of the next annual meeting of the Company stockholders following the grant date or (B) on the first anniversary of the date of grant. Acquired by a grant of the Board of Directors of the Company at their annual meeting on June 5, 2026. Fully vests on the earlier of (A) the date of the next annual meeting of the Company stockholders following the grant date or (B) on the first anniversary of the date of grant.
Key Figures
RSU grant: 836 shares
Option grant size: 2,938 options
Option exercise price: $237.00/share
+2 more
5 metrics
RSU grant
836 shares
Restricted stock units granted June 5, 2026
Option grant size
2,938 options
Non-qualified stock options granted June 5, 2026
Option exercise price
$237.00/share
Strike price for newly granted options
Shares owned after grant
33,629 shares
Common stock directly owned following RSU grant
Option expiration
June 5, 2036
Expiration date of non-qualified stock options
Key Terms
restricted stock units ("RSUs"), Non-Qualified Stock Option, exercise price, annual meeting, +1 more
5 terms
restricted stock units ("RSUs") financial
"Represents restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share"
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
Non-Qualified Stock Option financial
"Non-Qualified Stock Option (right to buy) with an exercise price of 237.0000"
A non-qualified stock option (NSO) is a contract that lets an employee or service provider buy company shares at a fixed price for a set period, like a voucher to purchase stock later at today’s price. It matters to investors because exercising NSOs creates ordinary income for the holder and can increase share count, affecting a company’s earnings and ownership mix; think of it as a future sale that can dilute existing shareholders and has immediate tax consequences for the recipient.
exercise price financial
"conversion_or_exercise_price: "237.0000" for the Non-Qualified Stock Option"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
annual meeting financial
"Acquired by a grant of the Board of Directors of the Company at their annual meeting on June 5, 2026."
A company's annual meeting is a yearly gathering where owners (shareholders) and the board review performance, ask questions, and vote on key matters like electing directors, approving auditor choices, and sometimes setting pay or dividend policies. For investors it matters because decisions made and votes cast can change who runs the company, influence strategy and payouts, and affect the value or direction of their investment—similar to a homeowners’ meeting where rules and leaders that shape your property’s value are decided.
vests financial
"Fully vests on the earlier of (A) the date of the next annual meeting of the Company stockholders"
FAQ
What did Ligand Pharmaceuticals (LGND) director Stephen L. Sabba acquire in this Form 4?
Stephen L. Sabba received equity awards, not open-market trades. He was granted 836 restricted stock units and 2,938 non-qualified stock options, providing additional stock-based compensation tied to Ligand Pharmaceuticals’ common shares under the company’s director compensation program.
What are the terms of Stephen L. Sabba’s new stock option grant at Ligand Pharmaceuticals (LGND)?
Sabba received 2,938 non-qualified stock options with an exercise price of $237.00 per share. These options are exercisable into an equal number of common shares and expire on June 5, 2036, giving him long-dated upside exposure to Ligand’s equity performance.
How many restricted stock units did Stephen L. Sabba receive from Ligand Pharmaceuticals (LGND)?
He received 836 restricted stock units, each representing a contingent right to one share of Ligand common stock. These RSUs will convert into shares once they vest, adding to his direct ownership if he continues serving as a director through the vesting date.
When do Stephen L. Sabba’s new RSUs and options in Ligand Pharmaceuticals (LGND) vest?
Both the 836 RSUs and 2,938 stock options fully vest on the earlier of the next annual meeting of Ligand stockholders following the June 5, 2026 grant date, or the first anniversary of that grant date, creating a vesting horizon of roughly one year.
Is Stephen L. Sabba’s Form 4 for Ligand Pharmaceuticals (LGND) a stock purchase or sale?
The Form 4 reports equity grants, not market trades. Sabba acquired 836 RSUs and 2,938 stock options as director compensation. No shares were bought or sold on the open market, so the filing mainly reflects routine incentive alignment rather than trading activity.