ESPINOZA OCTAVIO (Chief Financial Officer) sold 53.3% of their position (31.64K shares) of LIGAND PHARMACEUTICALS INC on the open market

Open‑market sale worth $9.24M — a major position exit. Review remaining holdings and any 10b5‑1 plan disclosures.

S · 1 sale

ESPINOZA OCTAVIO

Filed: 8/14/2026ACC: 0002001011-26-000115

InsiderESPINOZA OCTAVIOCIK 1905248

→

IssuerLIGAND PHARMACEUTICALS INCCIK 886163

Officer· Chief Financial Officer

Since Mar 2026

-31.64K

Net shares

Net seller

$9.24M

Total sold

Open market trades

0B · 1S

Total transactions

31.64K acquired · 63.28K disposed

Non-Derivative Transactions6

Common Stock

Direct

M · Option Exercise

+16.18K

Price / share

$52.84

Trade value

$854.90K

% of position

58.4%

8/12/2026

27.70K→43.88K

Common Stock

Direct

M · Option Exercise

+2.07K

Price / share

$70.04

Trade value

$145.26K

% of position

4.7%

8/12/2026

43.88K→45.95K

Common Stock

Direct

M · Option Exercise

+2.87K

Price / share

$55.75

Trade value

$159.95K

% of position

6.2%

8/12/2026

45.95K→48.82K

Common Stock

Direct

M · Option Exercise

+7.17K

Price / share

$57.22

Trade value

$410.32K

% of position

14.7%

8/12/2026

48.82K→55.99K

Common Stock

Direct

M · Option Exercise

+3.35K

Price / share

$68.74

Trade value

$230.14K

% of position

6.0%

8/12/2026

55.99K→59.34K

Common Stock

Direct

S · Sale

−31.64K

Price / share

$292.06

Trade value

$9.24M

% of position

53.3%

8/12/2026

59.34K→27.70K

Total

Net shares

+0.00

Net value

-$7.44M

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Direct	8/12/2026	M · Option Exercise	+16.18K	$52.84	$854.90K	58.4%	27.70K	43.88K
Common Stock Direct	8/12/2026	M · Option Exercise	+2.07K	$70.04	$145.26K	4.7%	43.88K	45.95K
Common Stock Direct	8/12/2026	M · Option Exercise	+2.87K	$55.75	$159.95K	6.2%	45.95K	48.82K
Common Stock Direct	8/12/2026	M · Option Exercise	+7.17K	$57.22	$410.32K	14.7%	48.82K	55.99K
Common Stock Direct	8/12/2026	M · Option Exercise	+3.35K	$68.74	$230.14K	6.0%	55.99K	59.34K
Common Stock Direct	8/12/2026	S · Sale	−31.64K	$292.06	$9.24M	53.3%	59.34K	27.70K
Total			+0.00		-$7.44M

Derivative Transactions5

Employee Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

Common Stock

2.87K shares

−2.87K

Strike price

55.75

Held after

0.00

Exercisable

—

8/12/2026

Employee Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

Common Stock

7.17K shares

−7.17K

Strike price

57.22

Held after

0.00

Exercisable

—

8/12/2026

Non-Qualified Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

Common Stock

16.18K shares

−16.18K

Strike price

52.84

Held after

0.00

Exercisable

—

8/12/2026

Non-Qualified Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

Common Stock

3.35K shares

−3.35K

Strike price

68.74

Held after

0.00

Exercisable

—

8/12/2026

Non-Qualified Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

Common Stock

2.07K shares

−2.07K

Strike price

70.04

Held after

0.00

Exercisable

—

8/12/2026

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable
Employee Stock Option (right to buy) Direct	Common Stock2.87K shares	8/12/2026	M · Option Exercise	−2.87K	55.75	—
Employee Stock Option (right to buy) Direct	Common Stock7.17K shares	8/12/2026	M · Option Exercise	−7.17K	57.22	—
Non-Qualified Stock Option (right to buy) Direct	Common Stock16.18K shares	8/12/2026	M · Option Exercise	−16.18K	52.84	—
Non-Qualified Stock Option (right to buy) Direct	Common Stock3.35K shares	8/12/2026	M · Option Exercise	−3.35K	68.74	—
Non-Qualified Stock Option (right to buy) Direct	Common Stock2.07K shares	8/12/2026	M · Option Exercise	−2.07K	70.04	—