Company: LGNZZ
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0000886163-25-000025
Chunk: 56

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 56
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 but paid in the subsequent year.

(3) Represents life insurance premiums paid by us for each year represented in the table, as follows: $3,960 in 2024 and 2023 for Mr. Davis, $713 in 2024 and $900 in 2023 and 2022 for Mr. Korenberg, $1,380 in 2024, 2023 and 2022 for Mr. Espinoza, and $1,380 in 2024, $900 in 2023, and $337 in 2022 for Mr. Reardon. The amount also includes 401(k) matching funds paid by us for the named executive officers, as follows: $6,000 for each named executive officer in 2024 and 2023; $2,572 for Mr. Reardon, and $6,000 for the remaining named executive officers (other than Mr. Davis) in 2022.

46

In addition, the amount for Mr. Korenberg in 2024 includes $66,089 for his accrued paid time off balance paid upon his resignation, $23,904 in severance payments, $7,278 in continued health benefit coverage, and $14,343 consulting services pursuant to his separation agreement with the Company. As discussed above in footnote (1), Mr. Korenberg’s outstanding equity awards accelerated in connection with his separation from the Company and the modification expense related to this acceleration of the RSU, PSU, and option awards is included in the Stock Awards and Option Awards columns of this table for Mr. Korenberg. Mr. Korenberg has the ability to exercise any stock awards that he held on December 31, 2024 through March 1, 2026.

Additionally, the amount for Mr. Davis in 2022 includes the cash retainers paid to Mr. Davis received for his service on the Board prior to his appointment as our Chief Executive Officer effective as of December 5, 2022 in the amount of $65,021. Mr. Davis did not receive any 401(k) matching funds during 2022.

(4) For Mr. Davis, his salary in 2022 represents the pro-rated base salary in the amount of $49,243 after his appointment as our Chief Executive Officer effective as of December 5, 2022.

(5) For Mr. Korenberg, his salary in 2024 represents the pro-rated base salary paid prior to his resignation as our