Reardon Andrew 4
4 · LIGAND PHARMACEUTICALS INC · Filed Feb 18, 2026
Research Summary
AI-generated summary of this filing
Ligand (LGND) CLO Andrew Reardon Receives PSUs; Shares Withheld
What Happened
- Andrew Reardon, Chief Legal Officer & Secretary of Ligand Pharmaceuticals (LGND), had performance/restricted stock units settle in mid-February. On Feb 14, 2026 he was issued a total of 15,738 shares (two awards of 6,928 and 8,810 shares at $0.00 per share). To cover tax liabilities related to the settlement, the issuer withheld/disposed 9,680 shares across Feb 14–15 at $183.83 per share, with withholding value totaling approximately $1,779,474. Net result: Reardon received 15,738 shares and, after withholding, retained a net 6,058 shares from the settlement.
Key Details
- Transaction dates/prices:
- Feb 14, 2026: Award/issuance of 6,928 shares and 8,810 shares at $0.00 (PSU/RSU settlement).
- Feb 14, 2026: Shares withheld/disposed — 3,211 shares ($183.83/share; $590,278) and 4,083 shares ($183.83/share; $750,578).
- Feb 15, 2026: Shares withheld/disposed — 593 shares ($183.83/share; $109,011), 801 shares ($183.83/share; $147,248), and 992 shares ($183.83/share; $182,359).
- Total issued: 15,738 shares; total withheld/disposed: 9,680 shares; net retained from settlement: 6,058 shares.
- Total value of shares withheld (tax payment basis): about $1.78 million (at $183.83/share).
- Footnotes from filing:
- F1: shares issued upon vesting/certification of PSUs.
- F2: shares withheld to pay tax liability from PSU settlement.
- F3: shares withheld to pay tax liability from RSU settlement.
- Filing: Form 4 filed Feb 18, 2026 for transactions dated Feb 14–15, 2026. The filing shows the settlements and withholding; no late-filing flag was provided in the supplied data.
Context
- This was not an open-market sale by the insider — the “disposals” are issuer withholding of shares to satisfy tax obligations upon settlement of PSUs/RSUs (a routine, cashless settlement method). Such withholding is a common administrative step and does not necessarily indicate a deliberate market-sale decision by the insider.
- Codes: A = award/grant/acquisition (PSU/RSU issuance); F = payment of exercise price or tax liability (shares withheld to cover taxes).
Insider Transaction Report
Form 4
Reardon Andrew
CLO & Secretary
Transactions
- Award
Common Stock
[F1]2026-02-14+6,928→ 37,739 total - Tax Payment
Common Stock
[F2]2026-02-14$183.83/sh−3,211$590,278→ 34,528 total - Award
Common Stock
[F1]2026-02-14+8,810→ 43,338 total - Tax Payment
Common Stock
[F2]2026-02-14$183.83/sh−4,083$750,578→ 39,255 total - Tax Payment
Common Stock
[F3]2026-02-15$183.83/sh−593$109,011→ 38,662 total - Tax Payment
Common Stock
[F3]2026-02-15$183.83/sh−801$147,248→ 37,861 total - Tax Payment
Common Stock
[F3]2026-02-15$183.83/sh−992$182,359→ 36,869 total
Footnotes (3)
- [F1]Represents shares of common stock issued upon the vesting and certification of performance stock units ("PSUs").
- [F2]Represents shares withheld by the Issuer in payment of the tax liability arising in connection with the settlement of PSUs.
- [F3]Represents shares withheld by the Issuer in payment of the tax liability arising in connection with the settlement of restricted stock units.
Signature
/s/ Andrew Reardon|2026-02-18