Company: LGNZZ
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0000886163-25-000025
Chunk: 41

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 41
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 Management and Compensation Committee considered our business achievements in 2024 as discussed above under “2024 Business Highlights . ” With the performance against the pre-established goals, our Human Capital Management and Compensation Committee determined to payout annual bonuses to the executives at 130% of target (other than for Mr. Korenberg, who resigned effective as of October 15, 2024 and received a bonus amount of 50% of target in connection with his resignation).

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#### 2024 Annual Bonus Determinations
| Name              |     | Base Salary |         |     | Target Bonus          
 (as % of base salary) |    |     | Corporate Performance Achievement % |     |   | Total 2024 Annual Bonus(1) |         |
|:------------------|:----|:------------|--------:|:----|:----------------------|---:|:----|:------------------------------------|----:|:--|:---------------------------|--------:|
| Todd Davis        |     | $           | 700,000 |     |                       | 70 | %   |                                     | 130 | % | $                          | 637,000 |
| Tavo Espinoza     |     |             | 472,600 |     |                       |    | 40% |                                     | 130 | % |                            | 250,000 |
| Andrew Reardon    |     |             | 453,400 |     |                       |    | 40% |                                     | 130 | % |                            | 240,000 |
| Matthew Korenberg |     |             | 572,800 |     |                       | 50 | %   |                                     |  50 | % | 142,789(2)                 |         |

(1) Annual bonus amounts were calculated based on the actual salary earned during 2024 for the executives.

(2) Mr. Korenberg resigned from his position as President and Chief Operating Officer effective October 15, 2024. Mr. Korenberg received a bonus amount equal to 50% of his target bonus opportunity (50% of base salary) pursuant to his separation agreement.

Long-Term Performance-Based Equity Incentive Program

Our long-term performance-based compensation is designed to link the ultimate level of an executive officer’s compensation to our stock price performance and long-term stockholder interests while creating an incentive for sustained growth. All equity awards granted in 2024 for our executive officers were granted under our 2002 Plan.

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