LIGAND PHARMACEUTICALS INC — Director's Dealing 2017

Mar 1, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIGAND PHARMACEUTICALS INC (LGND)
CIK: 0000886163
Period of Report: 2017-02-24

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-24	Common Stock	A	2619	$0.0	Acquired	40546	Direct
2017-02-24	Common Stock	A	2259	$0.0	Acquired	42805	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-02-24	Employee Stock Option (right to buy)	$100.38	A	9643	Acquired	2027-02-24	Common Stock (9643)	Direct

Footnotes

F1: Represents the number of shares of common stock issued upon the vesting of performance stock units (PSUs). Each PSU represented a contingent right to receive one share of the Issuer?s common stock. The PSUs were originally granted on 02/10/2015 and were eligible to vest based on the Issuer?s achievement of certain performance objectives during the two-year performance period ending December 31, 2016. On February 24, 2017, the Compensation Committee of the Board of Directors of the Issuer certified the Issuer?s achievement relative to the applicable performance objectives and approved the vesting of the PSUs with respect to these shares.

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 Optioned Shares per month thereafter.