Company: LGNZZ
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0000886163-25-000025
Chunk: 19

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 19
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| Science & Technology Operations Committee           |     |                 |      — |         |     |                 |     — |         |

#### Equity Compensation
Pursuant to our non-employee director compensation policy, each new non-employee director receives an initial grant of stock options and restricted stock units, or RSUs, under our 2002 Plan. These initial awards are granted effective on the date on which a recipient first becomes a non-employee director of our Company. In addition, effective on the date of each annual meeting of stockholders, each non-employee director receives an annual grant of stock options and RSUs under the 2002 Plan. The target values of the initial and annual awards granted pursuant to our non-employee director compensation policy in effect through March 31, 2025 were as follows:

|               |     | Target Value of RSU Award(1) |     |          | Target Value of Option Award(2) |     |          |     | Total Target Value of Award |
| Initial Grant |     |                              |     | $145,000 |                                 |     | $280,000 |     |                    $425,000 |
| Annual Grant  |     |                              |     |  105,000 |                                 |     |  210,000 |     |                     315,000 |

In April 2025, the Human Capital Management and Compensation Committee also reviewed the Board of Director equity and total compensation practices for our peers based on data and recommendations provided by Aon. Based on an assessment of competitive compensation levels, as well as the above-average workload of members of the Board of Directors, effective April 22, 2025, the target values of the awards granted pursuant to our non-employee director compensation policy were to the following:

|               |     | Target Value of RSU Award(1) |     |          | Target Value of Option Award(2) |     |          |     | Total Target Value of Award |
| Initial Grant |     |                              |     | $168,000 |                                 |     | $337,000 |     |                    $505,000 |
| Annual Grant  |     |                              |     |  125,000 |                                 |     |  250,000 |     |                     375,000 |

(1) The actual number of RSUs to be awarded is calculated by dividing (a) the target grant value of the RSU award,