LGND · Ligand Pharmaceuticals Inc

The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on November 24, 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 $311.0900 to $312.0400. 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.

The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on November 24, 2025, in accordance with Rule 10b5-1.

The stock option vests and is exercisable as to 12.5% of the underlying shares on February 1, 2023, and in 42 substantially equal monthly installments thereafter.

The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on November 24, 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 $316.7000 to $317.4300. 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.

The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on November 24, 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 $313.1300 to $314.0100. 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.

The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on November 24, 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 $312.1050 to $312.5300. 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.

The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on November 24, 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 $315.4400 to $316.2600. 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.

The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on November 24, 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 $308.6300 to $309.6000. 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.

The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on November 24, 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 $314.3100 to $314.5900. 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.

The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on November 24, 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 $310.0100 to $310.2100. 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.

The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on November 24, 2025, in accordance with Rule 10b5-1.

These shares were acquired under the Ligand Employee Stock Purchase Plan in transactions that were exempt under both Rule 16b-3(d) and Rule 16b-3(c).

These shares were acquired under the Ligand Employee Stock Purchase Plan in transactions that were exempt under both Rule 16b-3(d) and Rule 16b-3(c).

These shares were acquired under the Ligand Employee Stock Purchase Plan in transactions that were exempt under both Rule 16b-3(d) and Rule 16b-3(c).

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.

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.

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.

The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $256.0000 to $256.5100. 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.

This Option was previously reported as a Grant of 5,907 shares on June 29, 2022, at an exercise price of $88.48 per share, which becomes exercisable in three successive annual installments upon completion of each calendar year of service beginning on the grant date, but was adjusted pursuant to the OmniAb Inc. separation from the issuer.

This Option was previously reported as a Grant of 5,907 shares on June 29, 2022, at an exercise price of $88.48 per share, which becomes exercisable in three successive annual installments upon completion of each calendar year of service beginning on the grant date, but was adjusted pursuant to the OmniAb Inc. separation from the issuer.

The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $255.0000 to $255.2900. 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.

The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $246.6300 to $247.6100. 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.

The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $249.3400 to $250.2700. 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.

The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $247.9400 to $248.3350. 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.

The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $250.9100 to $251.8950. 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.

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.

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.

Represents shares withheld by the Issuer in payment of the tax liability arising in connection with the settlement of restricted stock units.

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.

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.

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.

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.

The total number of shares owned has been reduced by 7,825 shares to reflect a reallocation of the reporting person's shares in accordance with his account records.

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.

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.

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.

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.

The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on November 24, 2025, in accordance with Rule 10b5-1.

The stock option vests and is exercisable as to 12.5% of the underlying shares on February 1, 2023, and in 42 substantially equal monthly installments thereafter.

The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on November 24, 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 $225.5200 to $226.3700. 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.

The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on November 24, 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 $228.0500 to $228.9650. 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.

The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on November 24, 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 $226.5250 to $227.0100. 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.

The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on November 24, 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 $223.4250 to $224.3800. 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.

The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on November 24, 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 $229.0900 to $230.0000. 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.

The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on November 24, 2025, in accordance with Rule 10b5-1.