LIGAND PHARMACEUTICALS INC — Director's Dealing 2018

Mar 7, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIGAND PHARMACEUTICALS INC (LGND)
CIK: 0000886163
Period of Report: 2018-03-02

Reporting Person: Korenberg Matthew E (EVP,Finance & Strategy and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-03-02	Common Stock	A	3074	$0.0	Acquired	12761	Direct
2018-03-06	Common Stock	A	2004	$0.0	Acquired	14765	Direct
2018-03-06	Common Stock	F	550	$165.87	Disposed	14215	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-03-02	Employee Stock Option (right to buy)	$159.01	A	16050	Acquired	2028-03-02	Common Stock (16050)	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 02/11/2016 and were eligible to vest based on the Issuer?s achievement of certain performance objectives during the two-year performance period ending December 31, 2017. On March 05, 2018, 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: Represents shares withheld to satisfy tax withholding obligations upon the vesting of previously reported restricted stock units that were granted on 02/11/2016.

F3: Grant to reporting person of options to purchase shares of common stock ("Option Shares"), exerciseable 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 03/02/18.