LIGAND PHARMACEUTICALS INC — Director's Dealing 2016

Jan 23, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIGAND PHARMACEUTICALS INC (LGND)
CIK: 0000886163
Period of Report: 2016-01-20

Reporting Person: KOZARICH JOHN W (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-01-20	Common Stock	M	1666.0	$59.4	Acquired	51377	Direct
2016-01-20	Common Stock	S	300.0	$92.71	Disposed	51077	Direct
2016-01-20	Common Stock	S	600.0	$93.83	Disposed	50477	Direct
2016-01-20	Common Stock	S	200.0	$94.71	Disposed	50277	Direct
2016-01-20	Common Stock	S	200.0	$96.28	Disposed	50077	Direct
2016-01-20	Common Stock	S	366.0	$97.99	Disposed	49711	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-01-20	Non-Qualified Stock Option (right to buy)	$59.4	M	1666.0	Disposed	2016-01-31	Common Stock (1666)	Direct

Footnotes

F1: The sale reported on this Form 4 was made pursuant to a written trading plan adopted by the Reporting Person on December 01,2015, in accordance with Rule 10b5-1.

F2: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $92.24 to $93.24, inclusive. The reporting person undertakes to provide, upon request to the Securities Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $93.34 to $94.32, inclusive. The reporting person undertakes to provide, upon request to the Securities Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F4: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $94.51 to $94.91, inclusive. The reporting person undertakes to provide, upon request to the Securities Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F5: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $96.23 to $96.33, inclusive. The reporting person undertakes to provide, upon request to the Securities Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F6: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $97.68 to $98.18, inclusive. The reporting person undertakes to provide, upon request to the Securities Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F7: The option becomes exercisable in twelve successive equal monthly installments upon completion of each calendar month of service beginning 1/31/06.