Espinoza Octavio 4

What Happened

• Octavio Espinoza, Chief Financial Officer of Ligand Pharmaceuticals (LGND), received equity awards on March 2, 2026: 4,933 shares and a derivative award covering 23,527 shares, both granted at $0.00. Total granted = 28,460 share-equivalents. These were grants/awards (not open-market purchases or sales).

Key Details

• Transaction date: 2026-03-02; grant price reported $0.00 for both items (total reported value $0).
• Grants listed: 4,933 shares (acquired) and 23,527 derivative share-equivalents (acquired).
• Shares owned after transaction: not specified in the Form 4 filing.
• Footnote F1: 23,527 (or the RSU portion) represents restricted stock units (RSUs). Each RSU is a contingent right to one share; vesting in three roughly equal annual installments on Feb 15, 2027, Feb 15, 2028 and Feb 15, 2029. Delivery of shares on vesting will be deferred per the company’s Nonqualified Deferred Compensation Plan election.
• Footnote F2: the other award is a stock option-type grant that vests 12.5% after six months, then in 42 substantially equal monthly installments thereafter.
• Filing timeliness: transaction occurred 2026-03-02; Form 4 was filed 2026-03-27 — this is later than the typical 2-business-day filing window (i.e., filed late).

Context

• These were compensation awards (RSUs and an option-style grant), not open-market buys or sales; they do not represent immediate stock purchases or cash proceeds. RSUs convert to shares only upon vesting and, per the filing, delivery is deferred. The option-style grant vests over time and must be exercised per its terms before becoming actual shares. Such grants are a routine part of executive compensation and do not by themselves indicate a near-term trading intent.