Haas Jason 4
4 · LIGAND PHARMACEUTICALS INC · Filed Jun 15, 2026
Research Summary
AI-generated summary of this filing
LIGAND (LGND) Director Jason Haas Exercises Options, Sells Shares
What Happened
Jason Haas, a director of LIGAND PHARMACEUTICALS INC (LGND), exercised options to acquire 4,000 shares on June 12, 2026 (3,000 at $51.56 and 1,000 at $51.56), costing $206,240 in aggregate. On the same day he sold a total of 6,461 shares in open-market transactions, generating approximately $1,651,320 in gross proceeds (weighted-average sale prices reported). The filing shows both exercise/conversion (derivative) entries and separate open-market sale entries — overall this is a sale transaction following option exercise rather than a fresh cash purchase (i.e., not a bullish purchase).
Key Details
- Transaction date: June 12, 2026; Form 4 filed June 15, 2026 (appears timely).
- Option exercises (M): 3,000 shares @ $51.56 = $154,680; 1,000 shares @ $51.56 = $51,560 (total cost $206,240).
- Open-market sales (S): 3,000 shares @ weighted avg $255.01 (F1) ≈ $765,034; 3,461 shares @ weighted avg $256.08 (F2) ≈ $886,286; total ≈ $1,651,320.
- The filing also lists exercise/conversion (M) entries with $0.00 price for 3,000 and 1,000 shares (shown as "Disposed" in the Form 4) — these are derivative conversion records in the filing.
- Footnotes: F1 and F2 note the reported sale prices are weighted averages across multiple trades (ranges: $255.00–$255.29 and $256.00–$256.51) and the reporting person can provide per-trade prices on request. F3 references the original option grant (June 29, 2022) and an adjustment tied to the OmniAb separation.
- Shares owned after the transactions are not specified in the provided excerpt of the Form 4.
Context
- This sequence (option exercise + same-day open-market sale) commonly reflects an officer/director converting options and selling shares for liquidity or to cover exercise/tax costs; the Form shows both the option exercise (derivative code M) and open-market sales (code S).
- The filing is factual disclosure of transactions; it does not state motivations. Purchases can indicate a stronger insider signal than sales; here the activity is largely a disposition generating ~ $1.65M in proceeds.
Insider Transaction Report
Form 4
Haas Jason
Director
Transactions
- Exercise/Conversion
Common Stock
2026-06-12$51.56/sh+3,000$154,680→ 10,442 total - Exercise/Conversion
Common Stock
2026-06-12$51.56/sh+1,000$51,560→ 11,442 total - Sale
Common Stock
[F1]2026-06-12$255.01/sh−3,000$765,034→ 8,442 total - Sale
Common Stock
[F2]2026-06-12$256.08/sh−3,461$886,286→ 4,981 total - Exercise/Conversion
Non-Qualified Stock Option (right to buy)
[F3]2026-06-12−3,000→ 7,138 totalExercise: $51.56Exp: 2032-06-29→ Common Stock (3,000 underlying) - Exercise/Conversion
Non-Qualified Stock Option (right to buy)
[F3]2026-06-12−1,000→ 6,138 totalExercise: $51.56Exp: 2032-06-29→ Common Stock (1,000 underlying)
Footnotes (3)
- [F1]The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $255.0000 to $255.2900. 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.
- [F2]The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $256.0000 to $256.5100. 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]This Option was previously reported as a Grant of 5,907 shares on June 29, 2022, at an exercise price of $88.48 per share, which becomes exercisable in three successive annual installments upon completion of each calendar year of service beginning on the grant date, but was adjusted pursuant to the OmniAb Inc. separation from the issuer.
Signature
By: /s/ Andrew Reardon, Attorney-in-Fact For: Jason Haas|2026-06-15