Company: LGNZZ
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0000886163-25-000025
Chunk: 66

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 66
---
 Officer:

• Total annualized compensation of our Chief Executive Officer, Mr. Davis, in 2024 was $12,914,980, as further described below. The total compensation for the median employee, other than our Chief Executive Officer, was $383,432. The total compensation for the median employee was calculated according to the requirements of the Summary Compensation Table.

• The ratio of our Chief Executive Officer’s annualized compensation (as determined below) to the compensation of the median employee for 2024 was 34 to 1.

The pay ratio reported above is a reasonable estimate calculated in a manner consistent with SEC rules based on our internal records and the methodology described above. The SEC rules for identifying the median compensated employee and calculating the pay ratio based on that employee’s annual total compensation allow companies to adopt a variety of methodologies, to apply certain exclusions, and to make reasonable estimates and assumptions that reflect their employee populations and compensation practices. Therefore, the pay ratio reported by other companies may not be comparable to the pay ratio reported above, as other companies have different employee populations and compensation practices and may utilize different methodologies, exclusions, estimates and assumptions in calculating their own pay ratios.

We had 68 active employees as of December 31, 2024. Pursuant to SEC rules, we chose to exclude 25 of these employees, each of whom was a acquired employee from the Novan acquisition we completed during 2023 that are intended to be employees on a transitionary basis consistent with our plans for that business. To identify the median of the annual total compensation of our employees as of December 31, 2024, we compared the sum of each employee’s base salary, 2024 bonus, the grant date fair value of equity awards granted during 2024 (determined in accordance with Topic 718) and 401(k) matching contributions for 2024. This compensation measure was consistently applied to all of our employees included in this calculation.

52

### PAY VERSUS PERFORMANCE DISCLOSURE
As required by Section 953(a) of the Dodd-Frank Act and Item 402(v) of Regulation S-K, the following table sets forth information concerning the compensation of our NEOs for each of the fiscal years ended December 31, 2020, 2021, 2022, 2023 and 2024, and our financial performance for each such fiscal year:

|      |     |                                                        |            |     |                                                          |            |     |                                                 |            |     |