Company: LGNZZ
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0000886163-25-000025
Chunk: 44

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 44
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(1) The actual number of options awarded was calculated using the Black-Scholes option pricing model (utilizing the same assumptions that we utilize in the preparation of our financial statements).

(2) The actual number of RSUs and PSUs awarded is calculated by dividing (a) the target grant value of the RSU and PSU awards, by (b) the average closing price per share of our common stock on the Nasdaq Global Market (or such other established stock exchange or national quotation system on which the stock is quoted) for the 30-calendar day period through and including January 29, 2024.

Our Human Capital Management and Compensation Committee does not take material nonpublic information into account when determining the timing and terms of equity awards, and the Company does not timethe disclosure of such material nonpublic information for purposes of affecting the value of executive compensation. The timing of grants is aligned with the start of the new fiscal yearas a way to incentivize the executives to deliver on our strategic objectives for the new fiscal year.The following table presents information regarding option awards granted to our NEOs in the fiscal year 2024, during any period beginning four business days before the filing or furnishing of a periodic report or current report disclosing material nonpublic information and ending one business day after the filing or furnishing of such report with the SEC.

| Name              |     | Grant date(1) |     |           | Number of securities underlying the award |         |     | Exercise price of the award 
 ($/share)                   |       |     | Grant date fair value of the award |           |     | Percentage change in the closing market price of the securities underlying the award between                                       
 the trading ending immediately prior to the disclosure of material nonpublic information and the trading day beginning immediately 
 following the disclosure of material nonpublic information                                                                         |    |   |
| Todd Davis        |     |               |     | 2/27/2024 |                                           | 131,723 |     |                             | 89.20 |     |                                    | 5,142,650 |     |                                                                                                                                    | 20 | % |
| Tavo Espinoza     |     |               |     | 2/27/2024 |                                           |  29,272 |     |                             | 89.20 |     |                                    | 1,142,820 |     |                                                                                                                                    | 20 | % |
| Andrew Reardon    |     |               |     | 2/27/202