Company: LGNZZ
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0000886163-25-000025
Chunk: 65

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 65
---
 Officer effective October 15, 2024. As part of Mr. Korenberg’s severance agreement, dated August 2, 2024, he received i) his regular base salary between October 16, 2024 and October 31, 2024 (totaling $23,904), (ii) consulting fee (totaling $14,342) for his consulting services performed between November and December 2024, (iii) all accrued, unused paid time off or vacation earned through October 15, 2024 (totaling $66,089), (iv) 50% of his 2024 target bonus (totaling $143,200), and (v) COBRA benefits from October 15, 2024 through December 31, 2024 (with an aggregate value of $ 7,278). In addition, the vesting of all of Mr. Korenberg’s equity awards that would have vested through December 31, 2025 was accelerated as of December 31, 2024. Mr. Korenberg has the ability to exercise any stock awards that he held on December 31, 2024 through March 1, 2026. The vesting of Mr. Korenberg’s equity awards resulted in the following number of equity awards vesting on December 31, 2024 with the corresponding values based on the closing market price of our common stock as reported on the Nasdaq Global Market on December 31, 2024, the last trading day of 2024: 48,155 stock options, with an aggregate value of $1,751,888; 17,106 RSUs with an aggregate value of $1,832,908; and 14,351 PSUs with an aggregate value of $1,537,710. In addition, 24,459 PSUs with a measuring period ending on December 31, 2024 were settled on February 14, 2025 with an aggregate value of $2,935,080 based on the closing market price of our common stock as reported on the Nasdaq Global Market on the settlement date.

51

### PAY RATIO DISCLOSURE
As required by Section 953(b) of the Dodd-Frank Act and Item 402(u) of Regulation S-K, we are providing the following information regarding the relationship of the annual total compensation of our median compensated employee to the total annualized compensation of Todd C. Davis, our Chief Executive