Company: LGNZZ
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0000886163-25-000025
Chunk: 62

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 62
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 portion of PSUs granted in 2022 is eligible to vest based on the achievement of certain combined TSR goals of Ligand and OmniAb relative to the NASDAQ Biotechnology Index during the period commencing on the completion of the OmniAb spin-off and ending December 31, 2024 (and a possible performance multiplier of 200% for “maximum” performance). Threshold performance levels, below which no vesting will be awarded, were also established for each performance objective. The “target” number of 2022 PSUs granted to the named executive officers that remain eligible to vest based on the relative TSR objective are as follows: Mr. Espinoza, 3,432 shares, and Mr. Reardon, 3,432 shares. For a description of the change in control provisions applicable to the stock awards, see “Severance and Change in Control Arrangements” above.

(9) This balance represents the remaining unvested RSUs from the following RSU grants to Mr. Reardon: 2,859 unvested RSUs granted on August 10, 2022, 3,778 unvested RSUs granted on February 23, 2023, and 7,208 unvested RSUs granted on February 27, 2024. For a description of the change in control provisions applicable to the stock awards, see “Severance and Change in Control Arrangements” above.

OPTION EXERCISES AND STOCK VESTED DURING FISCAL YEAR 2024

The following table provides information on stock option exercises and stock vesting in fiscal 2024 by our named executive officers.

|                      |     | Option Awards        |        |     |                              |           |     | Stock Awards        |        |     |                           |           |
| Name                 |     | No. of Shares        
 Acquired on Exercise 
 (#)                  |        |     | Value Realized Upon Exercise 
 ($)(1)                       |           |     | Number of Shares    
 Acquired on Vesting 
 (#)                 |        |     | Value Realized on Vesting 
 ($)(2)                    |           |
| Todd C. Davis        |     |                      | 16,015 |     |                              |   189,892 |     |                     |  5,669 |     |                           |   423,191 |
| Tavo Espinoza        |     |                      | 10,420 |     |                              |