LIGAND PHARMACEUTICALS INC — Director's Dealing 2014

Jun 10, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIGAND PHARMACEUTICALS INC (LGND)
CIK: 0000886163
Period of Report: 2014-06-09

Reporting Person: Herman Melanie J (Director of Accounting)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-06-09	Common Stock	M	850.0	$11.91	Acquired	3480	Direct
2014-06-09	Common Stock	S	850.0	$69.68	Disposed	2630	Direct
2014-06-09	Common Stock	M	250.0	$14.47	Acquired	2880	Direct
2014-06-09	Common Stock	S	250.0	$69.68	Disposed	2630	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-06-09	Employee Stock Option (right to buy)	$11.91	M	850.0	Disposed	2022-01-03	Common Stock (850)	Direct
2014-06-09	Employee Stock Option (right to buy)	$14.47	M	250.0	Disposed	2022-02-09	Common Stock (250)	Direct

Footnotes

F1: Grant to reporting person of options, exercisable over a 4-year period measured from the date of grant, 12-1/2% after six months, then 1/48th of the Option Shares per month thereafter. The date of grant is 01/03/12.

F2: Grant to reporting person of options, exercisable over a 4-year period measured from the date of grant, 12-1/2% after six months, then 1/48th of the Option Shares per month thereafter. The date of grant is 02/09/12.