KOZARICH JOHN W 4
4 · LIGAND PHARMACEUTICALS INC · Filed May 14, 2026
Research Summary
AI-generated summary of this filing
Ligand (LGND) Director John W. Kozarich Exercises Options, Sells Shares
What Happened
- John W. Kozarich, a director of Ligand Pharmaceuticals (LGND), exercised stock options and sold common shares in multiple transactions. On May 12 he exercised 459 options at $69.51 (cost $31,905) and sold those 459 shares at $224.00 for $102,816. On May 13 he exercised 1,575 options at $69.51 (cost $109,478) and sold those 1,575 shares at $223.50 for $352,013. In addition, on May 1 he sold smaller lots (80, 1, 165, 105 and 116 shares) at weighted‑average prices ranging roughly $227.16–$234.09 for total proceeds of about $108,251. Total disclosed sales = 2,501 shares for roughly $563,080; total option exercise cash paid ≈ $141,383.
- These transactions are primarily sales (routine monetization), not purchases.
Key Details
- Dates and prices:
- May 1, 2026: multiple open‑market sales (80 @ $227.37; 1 @ $229.87; 165 @ $231.87; 105 @ $232.57; 116 @ $234.09). Weighted‑average prices reported; ranges given in footnotes.
- May 12, 2026: exercised 459 options (code M) at $69.51 and sold 459 shares at $224.00.
- May 13, 2026: exercised 1,575 options (M) at $69.51 and sold 1,575 shares at $223.50.
- Shares sold: 2,501. Proceeds from disclosed sales: ≈ $563,080. Options exercised (shares acquired): 2,034 for cash ≈ $141,383.
- Shares owned after transactions: not disclosed in the provided excerpt of the filing.
- Notable footnotes:
- F1: Transactions made under a written Rule 10b5‑1 trading plan adopted March 7, 2025.
- F2–F5: Several May 1 sales reported as weighted‑average prices; per‑trade price ranges are in the footnotes.
- F6: The exercised option was a prior grant (original grant vests/adjustments noted due to corporate separation).
- Timeliness: Form 4 filed May 14, 2026 reporting trades on May 1, 12 and 13. The May 1 sale appears reported after the typical two‑business‑day Form 4 deadline; trades on May 12–13 were filed within a shorter interval. (Filing timeliness is based on calendar dates shown.)
Context
- These filings show option exercises followed by immediate sales of the resulting shares (a cashless or sell‑to‑cover pattern). The Form 4 includes both the exercise (code M) and the open‑market sales (code S).
- The presence of a Rule 10b5‑1 plan (F1) indicates the sales were made under a pre‑arranged trading plan, which is commonly used to avoid questions about trading on material nonpublic information and is often considered routine.
Insider Transaction Report
Form 4
KOZARICH JOHN W
Director
Transactions
- Sale
Common Stock
[F1][F2]2026-05-01$227.37/sh−80$18,189→ 42,173 total - Sale
Common Stock
[F1]2026-05-01$229.87/sh−1$230→ 42,172 total - Sale
Common Stock
[F1][F3]2026-05-01$231.87/sh−165$38,258→ 42,007 total - Sale
Common Stock
[F1][F4]2026-05-01$232.57/sh−105$24,420→ 41,902 total - Sale
Common Stock
[F1][F5]2026-05-01$234.09/sh−116$27,154→ 41,786 total - Exercise/Conversion
Common Stock
2026-05-12$69.51/sh+459$31,905→ 42,245 total - Sale
Common Stock
2026-05-12$224.00/sh−459$102,816→ 41,786 total - Exercise/Conversion
Common Stock
2026-05-13$69.51/sh+1,575$109,478→ 43,361 total - Sale
Common Stock
2026-05-13$223.50/sh−1,575$352,013→ 41,786 total - Exercise/Conversion
Non-Qualified Stock Option (right to buy)
[F6]2026-05-12−459→ 1,575 totalExercise: $69.51Exp: 2026-05-23→ Common Stock (459 underlying) - Exercise/Conversion
Non-Qualified Stock Option (right to buy)
[F6]2026-05-13−1,575→ 0 totalExercise: $69.51Exp: 2026-05-23→ Common Stock (1,575 underlying)
Footnotes (6)
- [F1]The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on March 07, 2025, in accordance with Rule 10b5-1.
- [F2]The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $227.1550 to $227.5800. 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.
- [F3]The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $231.1200 to $232.0700. 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.
- [F4]The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $232.2000 to $232.9300. 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.
- [F5]The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $233.6800 to $234.2400. 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.
- [F6]This Option was previously reported as a Grant of 2,329 shares, which vested in full on May 23, 2017, at an exercise price of $119.3000 per share but was adjusted pursuant to the OmniAb Inc. separation from the issuer.
Signature
By: /s/Andrew Reardon, Attorney-in-Fact For: John W. Kozarich|2026-05-14