LIGAND PHARMACEUTICALS INC — Director's Dealing 2017

Mar 11, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIGAND PHARMACEUTICALS INC (LGND)
CIK: 0000886163
Period of Report: 2017-03-08

Reporting Person: HIGGINS JOHN L (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-03-08	Common Stock	S	4000	$107.06	Disposed	128969	Direct
2017-03-08	Common Stock	M	15675	$10.05	Acquired	144644	Direct
2017-03-08	Common Stock	F	1473	$106.92	Disposed	143171	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-03-08	Incentive Stock Option (right to buy)	$10.05	M	15675	Disposed	2021-02-17	Common Stock (15675)	Direct

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $107.00 to $107.13, 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.

F2: Represents previously-owned shares delivered to the Issuer in payment of the exercise price of the stock options.

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 02/17/11.