Jason Aryeh - Sep 23, 2025 Form 4 Insider Report for LIGAND PHARMACEUTICALS INC (LGND)

Role
Director
Signature
By: /s/ Andrew Reardon, Attorney-in-Fact For: Jason Aryeh
Stock symbol
LGND
Transactions as of
Sep 23, 2025
Transactions value $
-$1,708,088
Form type
4
Date filed
9/24/2025, 05:11 PM
Previous filing
Sep 19, 2025

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Aryeh Jason Director 555 HERITAGE DRIVE, SUITE 200, JUPITER By: /s/ Andrew Reardon, Attorney-in-Fact For: Jason Aryeh 2025-09-24 0001376960

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LGND Common Stock Sale -$753K -4.42K -5.57% $170.41 74.9K Sep 23, 2025 Direct F1
transaction LGND Common Stock Sale -$791K -4.63K -6.18% $170.96 70.2K Sep 23, 2025 Direct F2
transaction LGND Common Stock Sale -$164K -954 -1.36% $171.92 69.3K Sep 23, 2025 Direct F3
holding LGND Common Stock 51.6K Sep 23, 2025 Indirect F4
holding LGND Common Stock 5.03K Sep 23, 2025 by Trust
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $169.6625 to $170.6600. 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.
F2 The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $170.6850 to $171.6050. 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.
F3 The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $171.7250 to $172.2400. 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.
F4 All securities disclosed in this Form 4 are owned by certain funds managed by JALAA Equities, LP, JLV Investments, LP and affiliates (the "Funds"). Jason Aryeh is the General Partner of JALAA Equities, LP and a partner of JLV Investments, LP. By reason of the provisions of Rule 16a-1 under the Securities Exchange Act of 1934, as amended, JALAA Equities, LP, JLV Investments, LP and affiliates and Mr. Aryeh may be deemed to be the beneficial owners of the securities beneficially owned by the Funds.