Company: LGNZZ
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0000886163-25-000025
Chunk: 39

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 39
---
     | Innoviva                    |     | Summit Therapeutics    |
| Assertio                 |     | Liquidia                    |     | Theravance Biopharma   |
| Cassava Sciences         |     | Madrigal Pharmaceuticals    |     | Ventyx Biopharma       |
| Catalyst Pharmaceuticals |     | MoonLake Immunotherapeutics |     | Vera Therapeutics      |
| CymaBay Therapeutics     |     | Protagonist Therapeutics    |     |                        |

35

The peer group compensation data is derived from public filings and information reported to Aon in its proprietary compensation survey. The pool of senior executive talent from which we draw and against which we compare ourselves extends beyond the limited community of our immediate peer group and includes a wide range of other organizations outside of our traditional competitors, which range is represented by such surveys. As a result, the Human Capital Management and Compensation Committee uses peer group data to analyze the overall competitiveness of our compensation with our direct peers and our general compensation philosophy, and to determine equity award levels for the named executive officers, but also relies on industry survey data in determining actual executive compensation.

### ELEMENTS OF COMPENSATION

#### Base Compensation
Annual base salary increases are based upon the performance of the executive officers, internal pay equity considerations and peer practices, as assessed by the Chief Executive Officer (for executives other than himself) and approved by the Human Capital Management and Compensation Committee. The Human Capital Management and Compensation Committee assesses these factors with respect to the Chief Executive Officer.

For 2024, Mr. Davis received a 7.7% increase in base salary compared to 2023, Mr. Espinoza received an 8.4% increase in base salary compared to 2023, Mr. Reardon received a 4.0% increase in base salary compared to 2023, and Mr. Korenberg received a 4.0% increase in base salary compared to 2023. These increases were determined to be appropriate by our Human Capital Management and Compensation Committee in light of individual and Company performance and to ensure that the base salaries of our named executive officers continued to be generally consistent with our pay positioning philosophy, as described above. The annualized base salaries for our named executive officers in 2024 were as follows:

| Name                 |     | 2024 Base Salary |         |     | % Base Salary        
 Increase (Over 2023) |     |   |
|:---------------------|:----|:-----------------|--------: