Form 4: LGND Director Sells Shares Under 10b5-1 Plan

LIGAND PHARMACEUTICALS Director John W. Kozarich sold 467 shares of common stock on December 1, 2025, through a pre-arranged 10b5-1 trading plan.

Summary

• John W. Kozarich, a Director of LIGAND PHARMACEUTICALS INC (LGND), reported multiple sales of common stock.
• A total of 467 shares were sold on December 1, 2025.
• The sales were executed at weighted-average prices ranging from $193.8577 to $200.0153 per share.
• These transactions were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on March 7, 2025.
• Following these transactions, John W. Kozarich beneficially owns 44,121 shares of LIGAND PHARMACEUTICALS INC common stock directly.

Sentiment

Score: 5

Explanation: The filing reports a routine insider stock sale executed under a pre-arranged 10b5-1 plan, which is a neutral event and does not inherently indicate positive or negative sentiment about the company's prospects.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This filing details a routine insider transaction by a director of a pharmaceutical company. Such transactions are common across all industries and are typically executed under pre-arranged trading plans to avoid accusations of trading on material non-public information.

Stakeholder Impact

• Shareholders: The sale represents a minor reduction in a director's direct holdings, executed under a pre-scheduled plan, and is unlikely to have a significant impact on shareholder sentiment or company valuation.
• Employees, Customers, Suppliers, Creditors: No direct impact on these stakeholders is indicated by this routine insider transaction filing.

Key Dates

Keywords

LGND, Ligand Pharmaceuticals, insider trading, Form 4, stock sale, director, 10b5-1 plan