LIGAND PHARMACEUTICALS INC — Director's Dealing 2016

Nov 2, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIGAND PHARMACEUTICALS INC (LGND)
CIK: 0000886163
Period of Report: 2016-10-31

Reporting Person: Davis Todd C (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-10-31	Common Stock	M	3333.0	$53.34	Acquired	59542	Direct
2016-10-31	Common Stock	M	7335.0	$32.3	Acquired	66877	Direct
2016-10-31	Common Stock	M	3312.0	$67.53	Acquired	70189	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-10-31	Non-Qualified Stock Option (right to buy)	$32.3	M	7335.0	Disposed	2023-06-11	Common Stock (7335)	Direct
2016-10-31	Non-Qualified Stock Option (right to buy)	$53.34	M	3333.0	Disposed	2017-03-01	Common Stock (3333)	Direct
2016-10-31	Non-Qualified Stock Option (right to buy)	$67.53	M	3312.0	Disposed	2024-06-04	Common Stock (3312)	Direct

Footnotes

F1: Acquired by a grant of the Board of Directors of the Company at their annual meeting on June 11, 2013, and will fully vest on the first anniversary of the grant date.

F2: Acquired by a grant of the Board of Directors of the Company at their annual meeting on June 04, 2014. Fully vests on the earlier of (A) the date of the next annual meeting of the Company stockholders following the grant date or (B) on the first anniversary of the date of grant.