Company: LGNZZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000886163-25-000012
Chunk: 187

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 187
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93

to the terms of the Restated Plan with the exception that incentive stock options may not be issued under the 2022 Inducement Plan and awards under the 2022 Inducement Plan may only be issued to eligible recipients under the applicable Nasdaq Listing Rules. The 2022 Inducement Plan was adopted by the Board without stockholder approval pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules. The Board has initially reserved 300,000 shares of the Company’s common stock for issuance pursuant to awards granted under the 2022 Inducement Plan. As of December 31, 2024, there were 1.6 million shares available for future option grants or direct issuance under the Restated Plan and the 2022 Inducement Plan.Following is a summary of our stock option plan activity and related information: SharesWeightedAverageExercisePriceWeightedAverageRemainingContractualTerm inYearsAggregateIntrinsicValue(In thousands)Balance at January 1, 20222,199,598 $106.00 6.34$113,302 Granted863,245 $91.34 Exercised(34,941)$38.56 Forfeited(40,069)$78.46 Balance at October 31, 20222,987,833 $102.92 0$14,835 Exercisable at October 31, 20221,769,629 $102.38 0$13,722 Options vested and expected to vest as of October 31, 2022, before the OmniAb Separation and Regrant2,987,833 $102.92 0$14,835 Cancellation due to OmniAb Separation, Before Regrant(2,987,833)Balance at November 1, 2022, Before Regrant— Granted (1) 3,584,760 $60.10 Exercised(50,449)$30.24 Forfeited(542,838)$56.20 Balance at December 31, 20222,991,473 $61.31 6.07$30,477 Exercisable at December 31, 20221,559,662 $60.83 4.51$17,951 Options vested and expected to vest as of December 31, 20222,991,473 $61.31 6.