LIGAND PHARMACEUTICALS INC — Director's Dealing 2016

Aug 9, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIGAND PHARMACEUTICALS INC (LGND)
CIK: 0000886163
Period of Report: 2016-08-05

Reporting Person: Berkman Charles S (VP, Gen. Counsel & Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-08-05	Common Stock	M	4295.0	$21.92	Acquired	33942	Direct
2016-08-05	Common Stock	S	4295.0	$123.16	Disposed	29647	Direct
2016-08-05	Common Stock	M	5688.0	$56.26	Acquired	35335	Direct
2016-08-05	Common Stock	S	5688.0	$123.16	Disposed	29647	Direct
2016-08-05	Common Stock	M	12084.0	$74.42	Acquired	41731	Direct
2016-08-05	Common Stock	S	12084.0	$123.16	Disposed	29647	Direct
2016-08-05	Common Stock	M	4947.0	$42.9	Acquired	34594	Direct
2016-08-05	Common Stock	M	3333.0	$40.86	Acquired	37927	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-08-05	Employee Stock Option (right to buy)	$40.86	M	3333.0	Disposed	2017-04-30	Common Stock (3333)	Direct
2016-08-05	Employee Stock Option (right to buy)	$42.9	M	4947.0	Disposed	2017-06-20	Common Stock (4947)	Direct
2016-08-05	Employee Stock Option (right to buy)	$56.26	M	5688.0	Disposed	2025-02-10	Common Stock (5688)	Direct
2016-08-05	Employee Stock Option (right to buy)	$74.42	M	12084.0	Disposed	2024-02-12	Common Stock (12084)	Direct
2016-08-05	Non-Qualified Stock Option (right to buy)	$21.92	M	4295.0	Disposed	2023-02-15	Common Stock (4295)	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 4/30/07.

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 6/20/07.

F3: 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 02/10/15.

F4: 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 02/12/14.

F5: 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 02/15/13.