Ligand (NASDAQ: LGND) director sells 467 shares under Rule 10b5-1 plan

Rhea-AI Filing Summary

Ligand Pharmaceuticals director John W. Kozarich reported open-market sales of company common stock. On March 2, 2026, he sold a total of 467 shares in six separate transactions under a written trading plan adopted on March 7, 2025 in accordance with Rule 10b5-1.

The reported weighted-average prices for these sales ranged from about $197 to $203 per share, based on detailed price ranges in the filing. After completing the transactions, Kozarich directly owned 42,720 shares of Ligand Pharmaceuticals common stock.

Insider Trade Summary

Net Seller: 467 shares ($93,632)

Net Sell 6 txns

Insider KOZARICH JOHN W

Role Director

Sold 467 shs ($94K)

Type	Security	Shares	Price	Value
Sale	Common Stock	47	$197.1397	$9K
Sale	Common Stock	204	$199.6894	$41K
Sale	Common Stock	41	$200.404	$8K
Sale	Common Stock	83	$201.6472	$17K
Sale	Common Stock	50	$202.5388	$10K
Sale	Common Stock	42	$203.57	$9K

Holdings After Transaction: Common Stock — 43,140 shares (Direct)

Footnotes (1)

1. The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on March 07, 2025, in accordance with Rule 10b5-1. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $197.0650 to $197.2000. The Reporting Person undertakes to provide the Registrant, any securityholder of the Registrant, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $199.4100 to $200.0550. The Reporting Person undertakes to provide the Registrant, any securityholder of the Registrant, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $200.1050 to $200.8400. The Reporting Person undertakes to provide the Registrant, any securityholder of the Registrant, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $201.2150 to $202.0500. The Reporting Person undertakes to provide the Registrant, any securityholder of the Registrant, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $202.1500 to $202.8700. The Reporting Person undertakes to provide the Registrant, any securityholder of the Registrant, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

KOZARICH JOHN W

(Last) (First) (Middle)

555 HERITAGE DRIVE

SUITE 200

(Street)

JUPITER FL 33458

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LIGAND PHARMACEUTICALS INC [ LGND ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/02/2026		S		47(1)	D	$197.1397(2)	43,140	D
Common Stock	03/02/2026		S		204(1)	D	$199.6894(3)	42,936	D
Common Stock	03/02/2026		S		41(1)	D	$200.404(4)	42,895	D
Common Stock	03/02/2026		S		83(1)	D	$201.6472(5)	42,812	D
Common Stock	03/02/2026		S		50(1)	D	$202.5388(6)	42,762	D
Common Stock	03/02/2026		S		42(1)	D	$203.57	42,720	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The transactions reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on March 07, 2025, in accordance with Rule 10b5-1.

2. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $197.0650 to $197.2000. The Reporting Person undertakes to provide the Registrant, any securityholder of the Registrant, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $199.4100 to $200.0550. The Reporting Person undertakes to provide the Registrant, any securityholder of the Registrant, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

4. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $200.1050 to $200.8400. The Reporting Person undertakes to provide the Registrant, any securityholder of the Registrant, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

5. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $201.2150 to $202.0500. The Reporting Person undertakes to provide the Registrant, any securityholder of the Registrant, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

6. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $202.1500 to $202.8700. The Reporting Person undertakes to provide the Registrant, any securityholder of the Registrant, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

	By: s/ Andrew Reardon, Attorney-in-Fact For: John W. Kozarich	03/04/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Ligand Pharmaceuticals (LGND) report for John W. Kozarich?

Ligand Pharmaceuticals reported that director John W. Kozarich sold 467 shares of common stock in multiple open-market transactions on March 2, 2026. The sales were executed under a pre-established Rule 10b5-1 trading plan adopted on March 7, 2025.

How many Ligand (LGND) shares did John W. Kozarich sell and at what prices?

John W. Kozarich sold a total of 467 Ligand common shares. Weighted-average sale prices for the separate trades ranged from roughly $197 to $203 per share, with detailed price ranges for each transaction disclosed in the filing’s footnotes.

Does John W. Kozarich still hold Ligand (LGND) shares after these sales?

Yes. After the March 2, 2026 sales, John W. Kozarich directly held 42,720 shares of Ligand Pharmaceuticals common stock. The filing reports this balance as the number of shares beneficially owned following the final reported transaction.

Were the Ligand (LGND) insider stock sales by John W. Kozarich pre-planned?

Yes. The filing states the transactions were made under a written trading plan adopted on March 7, 2025, in accordance with Rule 10b5-1. Such plans allow insiders to schedule trades in advance, typically to reduce concerns about trading on nonpublic information.

What type of transaction code is shown in the Ligand (LGND) Form 4 for John W. Kozarich?

The Form 4 lists transaction code “S” for each entry, described as a sale in an open market or private transaction. All six reported transactions involve non-derivative common stock and are characterized as open-market sales under the pre-established trading plan.

How many separate stock sale transactions did the Ligand (LGND) director execute?

The filing reports six separate non-derivative transactions in Ligand common stock on March 2, 2026. Each line item shows a distinct share amount and weighted-average sale price, covering the full 467 shares sold under the Rule 10b5-1 trading plan.