Reardon Andrew 4

What Happened

• Andrew Reardon, Chief Legal Officer & Secretary of Ligand Pharmaceuticals (LGND), received equity awards on March 2, 2026: a grant of 4,513 shares (stock option award) and a derivative award of 21,525 restricted stock units (RSUs). Both awards were issued at $0.00 (typical for compensation grants); combined they represent 26,038 shares subject to vesting and plan terms.

Key Details

• Transaction date: March 2, 2026. Form 4 filed March 27, 2026 (filed late relative to the typical 2-business-day requirement).
• Reported acquisition amounts and prices: 4,513 shares @ $0.00; 21,525 shares (derivative) @ $0.00. Cash paid = $0.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: F1 = 21,525 RSUs; vest in three substantially equal annual installments on Feb 15, 2027, 2028, 2029; delivery of shares upon vesting has been deferred under Ligand’s Nonqualified Deferred Compensation Plan. F2 = the stock option grant vests 12.5% after 6 months, then in 42 substantially equal monthly installments thereafter.
• Filing timeliness: The Form 4 was filed 25 days after the transaction date and is considered late (may be marked “L” in databases).

Context

• These are compensation grants (not open-market purchases or sales). Grants are recorded at $0 because they are awards, not cash purchases; they do not by themselves indicate immediate buying or selling pressure. The RSUs and option award are subject to multi-year vesting schedules and deferred delivery, so any potential impact on share supply or insider holdings will occur over time as vesting and delivery happen.