Form 4: Ligand Pharmaceuticals CFO Octavio Espinoza Reports Stock Transactions
SEC Form 4
Octavio Espinoza, CFO of Ligand Pharmaceuticals, reports multiple transactions involving the acquisition and disposal of common stock and derivative securities.
Summary
- On May 15, 2024, Octavio Espinoza sold 5,873 shares of Ligand Pharmaceuticals common stock at a weighted average price of $86.012.
- On May 16, 2024, Espinoza sold 2,264 shares at a weighted average price of $86.0034.
- On May 17, 2024, Espinoza exercised stock options to acquire 206 shares at $57.22, 1,544 shares at $63.62, 145 shares at $68.74, and 5,022 shares at $52.84.
- Also on May 17, 2024, Espinoza sold 5,022 shares at a weighted average price of $86.6652 and 134 shares at $86.6497.
- Following these transactions, Espinoza directly owns 23,379 shares of Ligand Pharmaceuticals common stock.
- The transactions also involved the exercise of employee and incentive stock options.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it simply reports stock transactions by an insider, which doesn't inherently indicate positive or negative company performance.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, like the CFO, who trade in their company's stock; it provides transparency to the market.
Stakeholder Impact
- The transactions may be of interest to shareholders as they provide insight into the actions of a key company executive.
- The filing ensures transparency and compliance with SEC regulations.
Key Dates
| Date | Description |
|---|---|
| 11/01/2022 | 4,096 stock options were vested and exercisable as of November 1, 2022, as per the separation of OmniAb Inc. from the issuer. |
| 12/01/2022 | 3,766 options vest in 23 substantially equal monthly installments beginning on December 1, 2022. |
| 12/05/2022 | Grant to reporting person of stock options that will vest and become exercisable over a 4-year period measured from December 5, 2022, with 12-1/2% of the shares subject to the stock options vesting on the date that is six months after December 5, 2022 and the remaining stock options vesting in 42 equal monthly installments thereafter. |
| 01/11/2023 | The stock option vests as to 50% of the underlying shares on January 11, 2023. |
| 02/11/2023 | The stock option vests as to the remaining 50% of the underlying shares on February 11, 2023. |
| 08/05/2022 | The stock option vests and is exercisable as to approximately 14% of the underlying shares on August 5, 2022. |
| 09/05/2022 | Approximately 64% of the underlying shares in 28 substantially equal monthly installments beginning on September 5, 2022. |
| 05/15/2024 | Octavio Espinoza sold 5,873 shares of Ligand Pharmaceuticals common stock. |
| 05/16/2024 | Octavio Espinoza sold 2,264 shares of Ligand Pharmaceuticals common stock. |
| 05/17/2024 | Octavio Espinoza exercised stock options and sold shares of Ligand Pharmaceuticals common stock. |
| 10/01/2030 | Expiration date of Employee Stock Option (right to buy). |
| 12/13/2032 | Expiration date of Employee Stock Option (right to buy). |
| 02/11/2029 | Expiration date of Incentive Stock Option (right to buy). |
| 05/05/2032 | Expiration date of Non-Qualified Stock Option (right to buy). |
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