Company: LGNZZ
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0000886163-25-000025
Chunk: 64

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 64
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,577 |
|                |     | Total value:             |     |                                                     |    181,001 |     |                                   | — |     |                                                                                                         |  6,240,251 |
| Andrew Reardon |     | Salary                   |     |                                                     |     93,005 |     |                                   | — |     |                                                                                                         |    453,400 |
|                |     | Bonus                    |     |                                                     |          — |     |                                   | — |     |                                                                                                         |    181,360 |
|                |     | Option acceleration      |     |                                                     |          — |     |                                   | — |     |                                                                                                         |  2,351,006 |
|                |     | Stock Award acceleration |     |                                                     |          — |     |                                   | — |     |                                                                                                         |  3,537,557 |
|                |     | Benefits continuation    |     |                                                     |      7,195 |     |                                   | — |     |                                                                                                         |     43,169 |
|                |     | Total value:             |     |                                                     |    100,200 |     |                                   | — |     |                                                                                                         |  6,566,492 |

(1) The 2002 Plan and the Inducement Plan provide that equity awards will vest in the event of a change in control and the equity awards are not assumed or replaced by a successor. This disclosure assumes that the successor will assume or replace the outstanding equity awards under the 2002 Plan and the Inducement Plan in the event of a change in control.

(2) The severance agreement with Mr. Davis and the change in control severance agreements with our other named executive officers provide that all of a named executive officer’s outstanding stock awards will vest in the event of an involuntary termination following a change in control. In addition, the severance agreement with Mr. Davis provides that all of his outstanding stock awards the vesting of which is time-based will vest upon an involuntary termination at any time, and any performance-based awards will be governed by the terms of the applicable award agreements. The agreements governing our PSUs provide for accelerated vesting of such PSUs in connection with a change in control, as described above under “Severance and Change in Control Arrangements.” For purposes of calculating the values in the table above, PSUs are included at “target” performance levels.

Matt Korenberg resigned from his position as President and Chief Operating