Stephen L Sabba, a director of Ligand Pharmaceuticals Incorporated, recently cashed-in 5,000 options. The options were exercised at prices ranging between $8.58 and $17.88, while the disposals took place at $255.05 per share, on September 04, 2018. Sabba continues to hold 26,856 shares of the company. Sabba operates out of Syosset, NY. Some additional info was provided as follows:
The Reporting Person acquired these securities, as represented in Column 4, upon exercise of the options and at their respective per share exercise price reported on Table II, as follows: for the first row on Table I, at an exercise price of $8.58/option set forth on the first row on Table II, and for the second row on Table I, at an exercise price of $17.88/option set forth on the second r
ow on Table II.
These securities, as represented in Column 5, include a grant of 493 restricted shares in a transaction exempt from Section 16b treatment, as originally reported on a Form 4 filed June 21, 2018, which shares will vest in full on the earlier of (a) the date of the next annual meeting of the Company stockholders following the grant date or (b) on the first anniversary of the grant date.
The price reported is based on an average share price from the following transactions: ((100 shares @ $255.64)+(100 shares @ $255.46)+(200 shares @ $255.45)+(200 shares @ $255.26)+(106 shares @ $255.16)+(4,294 shares @ $255.00))/5,000 shares. The Reporting Person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares and the sale prices for each of the foregoing transactions.
These securities, as represented in Table II, were acquired in transactions exempt from 16b treatment: the options in the first row were originally granted on May 25, 2010 and those in the second row were originally granted on May 29, 2009 (as both were reported, at their respective exercise prices in Column 2 following the Company's stock split, on a Form 4 filed June 6, 2011).
These securities are currently fully vested and exercisable, having vested in twelve successive equal monthly installments upon completion of each calendar month of service beginning as follows: for those on the first row of Table II, on May 25, 2010, and for those on the second row of Table II, on May 29, 2009.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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