Ligand Pharmaceuticals Incorporated is asking stockholders to vote at a virtual annual meeting on June 5, 2026. Stockholders will elect eight directors, ratify Ernst & Young LLP as auditor for 2026, approve an advisory say‑on‑pay vote, and consider an amendment and restatement of the 2002 Stock Incentive Plan.
The proxy highlights a royalty‑focused biopharmaceutical model that generated strong 2025 results, including 48% royalty revenue growth and a 42% increase in full‑year adjusted EPS over the prior year. Management attributes this to a lean cost structure, diversified royalty portfolio, and successful partner product launches.
The amended equity plan would add 600,000 shares to the share reserve, eliminate the fungible pool formula, raise the limit on incentive stock options, update director compensation caps, and extend the plan term by ten years. Ligand also emphasizes sustainability initiatives, including a $2.6 million solar investment, and outlines governance practices such as independent committees, a clawback policy, stock ownership guidelines and annual say‑on‑pay votes.
Ligand Pharmaceuticals Incorporated is asking stockholders to vote at a virtual annual meeting on June 5, 2026. Stockholders will elect eight directors, ratify Ernst & Young LLP as auditor for 2026, approve an advisory say‑on‑pay vote, and consider an amendment and restatement of the 2002 Stock Incentive Plan.
The proxy highlights a royalty‑focused biopharmaceutical model that generated strong 2025 results, including 48% royalty revenue growth and a 42% increase in full‑year adjusted EPS over the prior year. Management attributes this to a lean cost structure, diversified royalty portfolio, and successful partner product launches.
The amended equity plan would add 600,000 shares to the share reserve, eliminate the fungible pool formula, raise the limit on incentive stock options, update director compensation caps, and extend the plan term by ten years. Ligand also emphasizes sustainability initiatives, including a $2.6 million solar investment, and outlines governance practices such as independent committees, a clawback policy, stock ownership guidelines and annual say‑on‑pay votes.
Ligand Pharmaceuticals director John W. Kozarich reported selling a total of 467 shares of common stock on April 1, 2026 in a series of open-market transactions. The reported weighted-average sale prices ranged from about $199.97 to $204.26 per share.
These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 7, 2025. After the sales, Kozarich directly holds 42,253 shares of Ligand Pharmaceuticals common stock.
Ligand Pharmaceuticals director John W. Kozarich reported selling a total of 467 shares of common stock on April 1, 2026 in a series of open-market transactions. The reported weighted-average sale prices ranged from about $199.97 to $204.26 per share.
These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 7, 2025. After the sales, Kozarich directly holds 42,253 shares of Ligand Pharmaceuticals common stock.
Ligand Pharmaceuticals’ CLO & Secretary Andrew Reardon exercised stock options and sold the resulting shares. He exercised 5,000 Employee Stock Options at an exercise price of $52.27 per share, receiving 5,000 shares of common stock.
On the same date, he sold all 5,000 shares in multiple open-market transactions at weighted-average prices ranging from about $198.40 to $204.82 per share, under a written Rule 10b5-1 trading plan adopted on November 24, 2025. Following these transactions, he directly holds 41,382 shares of Ligand common stock.
Ligand Pharmaceuticals’ CLO & Secretary Andrew Reardon exercised stock options and sold the resulting shares. He exercised 5,000 Employee Stock Options at an exercise price of $52.27 per share, receiving 5,000 shares of common stock.
On the same date, he sold all 5,000 shares in multiple open-market transactions at weighted-average prices ranging from about $198.40 to $204.82 per share, under a written Rule 10b5-1 trading plan adopted on November 24, 2025. Following these transactions, he directly holds 41,382 shares of Ligand common stock.
LGND Rule 144 notice discloses reported dispositions of Common stock. The filing lists an issuer broker entry at UBS Financial Services and shows multiple reported sales by John Kozarich of 467 shares on 01/02/2026, 02/02/2026, and 03/02/2026 with reported amounts $88,532.51, $91,490.02, and $93,632.38 respectively.
LGND Rule 144 notice discloses reported dispositions of Common stock. The filing lists an issuer broker entry at UBS Financial Services and shows multiple reported sales by John Kozarich of 467 shares on 01/02/2026, 02/02/2026, and 03/02/2026 with reported amounts $88,532.51, $91,490.02, and $93,632.38 respectively.
Ligand Pharmaceuticals’ Chief Financial Officer Octavio Espinoza received equity awards as part of his compensation. He was granted stock options covering 23,527 shares of common stock at an exercise price of $202.55 per share, expiring on March 2, 2036. These options vest as to 12.5% of the underlying shares six months after the grant date, then in 42 substantially equal monthly installments.
He also received 4,933 restricted stock units (RSUs), each representing one share of common stock. The RSUs vest in three substantially equal annual installments on February 15, 2027, February 15, 2028, and February 15, 2029, subject to continued service. Delivery of shares on each vesting date will be deferred under the company’s Nonqualified Deferred Compensation Plan. Following the RSU grant, he directly owns 37,945 shares of common stock.
Ligand Pharmaceuticals’ Chief Financial Officer Octavio Espinoza received equity awards as part of his compensation. He was granted stock options covering 23,527 shares of common stock at an exercise price of $202.55 per share, expiring on March 2, 2036. These options vest as to 12.5% of the underlying shares six months after the grant date, then in 42 substantially equal monthly installments.
He also received 4,933 restricted stock units (RSUs), each representing one share of common stock. The RSUs vest in three substantially equal annual installments on February 15, 2027, February 15, 2028, and February 15, 2029, subject to continued service. Delivery of shares on each vesting date will be deferred under the company’s Nonqualified Deferred Compensation Plan. Following the RSU grant, he directly owns 37,945 shares of common stock.
LGND reported an insider sale. Stephen L. Sabba reported the sale of 2,034 common shares on 03/03/2026 with an aggregate figure shown as $409,851.00 in the filing. The notice also records an earlier exercised block of 1,000 shares on 03/05/2024 noted as "Exercised Shares" for cash.
LGND reported an insider sale. Stephen L. Sabba reported the sale of 2,034 common shares on 03/03/2026 with an aggregate figure shown as $409,851.00 in the filing. The notice also records an earlier exercised block of 1,000 shares on 03/05/2024 noted as "Exercised Shares" for cash.
Ligand Pharmaceuticals’ Chief Legal Officer and Secretary Andrew Reardon reported a set of planned insider transactions in company stock. On March 4, 2026, he exercised employee stock options for 5,000 shares of common stock and then sold 5,000 common shares in a series of open-market trades.
The sales were executed at weighted-average prices disclosed in ranges between approximately $197.58 and $208.97, under a Rule 10b5-1 trading plan adopted on November 24, 2025. After these transactions, Reardon directly holds 36,869 common shares and 54,444 options, with the underlying option grant vesting over time.
Ligand Pharmaceuticals’ Chief Legal Officer and Secretary Andrew Reardon reported a set of planned insider transactions in company stock. On March 4, 2026, he exercised employee stock options for 5,000 shares of common stock and then sold 5,000 common shares in a series of open-market trades.
The sales were executed at weighted-average prices disclosed in ranges between approximately $197.58 and $208.97, under a Rule 10b5-1 trading plan adopted on November 24, 2025. After these transactions, Reardon directly holds 36,869 common shares and 54,444 options, with the underlying option grant vesting over time.
Ligand Pharmaceuticals’ Chief Financial Officer Octavio Espinoza reported option exercises and share sales in company stock. On March 4, 2026, he exercised employee stock options covering 2,073 shares of common stock and then sold 13,423 shares in open-market transactions.
The sales were executed at weighted-average prices generally between $198.37 and $208.95 pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on November 19, 2025. After these transactions, he directly owned 21,662 shares of Ligand common stock.
Ligand Pharmaceuticals’ Chief Financial Officer Octavio Espinoza reported option exercises and share sales in company stock. On March 4, 2026, he exercised employee stock options covering 2,073 shares of common stock and then sold 13,423 shares in open-market transactions.
The sales were executed at weighted-average prices generally between $198.37 and $208.95 pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on November 19, 2025. After these transactions, he directly owned 21,662 shares of Ligand common stock.
Ligand Pharmaceuticals director Stephen L. Sabba exercised a stock option for 2,034 common shares at $69.51 per share and on the same day sold 2,034 shares at $201.50 per share in an open-market transaction. He now directly holds 33,793 common shares.
Ligand Pharmaceuticals director Stephen L. Sabba exercised a stock option for 2,034 common shares at $69.51 per share and on the same day sold 2,034 shares at $201.50 per share in an open-market transaction. He now directly holds 33,793 common shares.