Sabba Stephen L 4
4 · LIGAND PHARMACEUTICALS INC · Filed Jun 18, 2026
Research Summary
AI-generated summary of this filing
Ligand (LGND) Director Stephen L. Sabba Exercises Options and Sells Shares
What Happened
Stephen L. Sabba, a director of Ligand Pharmaceuticals (LGND), exercised 2,145 stock option/derivative units on 2026-06-16 at an adjusted exercise price of $66.13 (cost $141,849) and immediately sold the 2,145 shares in an open-market transaction at $254.00 per share for gross proceeds of $544,830 (net cash roughly $402,981 before taxes and fees). The Form 4 lists the derivative conversion/exercise and the subsequent sale on the same date.
Key Details
- Transaction date: 2026-06-16; Form 4 filed 2026-06-18 (filed timely).
- Exercise: 2,145 shares @ $66.13 = $141,849 (acquired via exercise/conversion).
- Sale: 2,145 shares @ $254.00 = $544,830 (open-market sale).
- Derivative line shows the conversion/exercise recorded as disposed at $0 — standard reporting when a derivative is exercised/converted into shares.
- Shares owned after the transaction: not specified in the provided excerpt.
- Footnote highlights: (F1) 836 restricted shares granted by the board at the 2026 meeting (previously reported 6/9/2026); (F2) the exercised grant traces to a 2017 board-approved grant originally for 2,456 shares, adjusted to 2,145 shares and with an adjusted exercise price due to the OmniAb separation.
- No 10b5-1 plan or tax-withholding details were indicated in the provided excerpt.
Context
- This is an “exercise then sell” (cashless-style) transaction: options/derivatives were exercised and the shares were sold the same day — a common way for insiders to realize option value and cover exercise costs/taxes.
- Sales by insiders can be routine and do not by themselves indicate management’s view of the company; purchases typically carry clearer bullish signals.
Insider Transaction Report
Form 4
Sabba Stephen L
Director
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-06-16$66.13/sh+2,145$141,849→ 35,774 total - Sale
Common Stock
[F1]2026-06-16$254.00/sh−2,145$544,830→ 33,629 total - Exercise/Conversion
Non-Qualified Stock Option (right to buy)
[F2]2026-06-16−2,145→ 0 totalExercise: $66.13Exp: 2027-05-25→ Common Stock (2,145 underlying)
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.
Signature
/s/ Stephen L. Sabba|2026-06-18