LIGAND PHARMACEUTICALS INC — Director's Dealing 2011

Jun 3, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIGAND PHARMACEUTICALS INC (LGND)
CIK: 0000886163
Period of Report: 2011-06-01

Reporting Person: KOZARICH JOHN W (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-06-01	Common Stock	A	2925	—	Acquired	21651	Direct
2011-06-01	Common Stock	A	4447	—	Acquired	26098	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-06-01	Non-Qualified Stock Option (right to buy)	$10.12	A	7335	Acquired	2012-06-01	Common Stock (7335)	Direct

Footnotes

F1: Acquired by a grant of the Board of Directors of the Company at their annual meeting on June 01, 2011, and will fully vest on the first anniversary of the grant date.

F2: Immediately vested restricted shares issued in lieu of annual cash retainer

F3: Acquired by a grant of the Board of Directors of the Company at their annual meeting on June 01, 2011, and will fully vest on the first anniversary of the grant date.