Beta69% was sold under disclosed trading plans, 31% with no plan disclosed. The largest seller, Octavio Espinoza (Chief Financial Officer), sold $13.0M. 71% of these sales were shares from exercising options.Share-of-stake figures for this company are being verified and will be added when that check is finished. Why
A share of stake is shown for 0 of the 9 officers and directors who sold. 10 are left out Disclosed company stock is not an insider's whole wealth.i
Left out: Todd Davis, Jason Aryeh, John Kozarich, Stephen Sabba, Andrew Reardon, John Lamattina, Octavio Espinoza, Nancy Gray, Jason Haas and Martine Zimmermann (share of stake is being verified).
Officers and directors, past 12 months. Their share of stake is being verified and is not shown yet; amounts and trading plans are below.
Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.
| Who | Shares | Price | % of total stake | Total stake after | Trade date | Filed |
|---|---|---|---|---|---|---|
| Andrew Reardon CLO & Secretary | 5,000 | $304.07 | n/a | n/a | Oct 2, 2026 | Oct 6, 2026 |
| Who | Shares | Price | % of total stake | Total stake after | Trade date | Filed |
|---|---|---|---|---|---|---|
| Martine Zimmermann Director | 115 | $298.50 | n/a | n/a | Sep 22, 2026 | Sep 24, 2026 |
"% of total stake" is the shares in an event against all the vested shares the person held that day, across every share class and holding entity, after that day's vesting. "n/a" means the person's holdings are not confirmed, or the row is a purchase. "Holdings record incomplete" means more shares were sold than the filings show the person held that day, so a percentage would be wrong.
Jason Aryeh reported no open-market sales in the past 12 months. Large shareholders and the funds or companies that board members represent are not part of management, so they are left out of the figures above.
No. Todd Davis reported no open-market sales in the past 12 months.
Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 69% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 31% had no disclosed plan. A trading plan schedules sales in advance.
No. Officers and directors reported no purchases in the past 12 months.
| Who sold | Amount | % of holdings | Trading plan |
|---|---|---|---|
| Octavio Espinoza Chief Financial Officer | $13.0M 50K shares | Not confirmedshare of stake is being verified. Why | 97% under a disclosed plan 3% no plan disclosed |
| Andrew Reardon CLO & Secretary | $10.3M 40K shares | Not confirmedshare of stake is being verified. Why | Disclosed plan |
| Jason Haas Director | $3.7M 14K shares | Not confirmedshare of stake is being verified. Why | No plan disclosed |
| John Lamattina Director | $2.4M 11K shares | Not confirmedshare of stake is being verified. Why | No plan disclosed |
| Nancy Gray Director | $1.4M 6.6K shares | Not confirmedshare of stake is being verified. Why | No plan disclosed |
| Jason Aryeh Director | $1.3M 5K shares | Not confirmedshare of stake is being verified. Why | No plan disclosed |
| Stephen Sabba Director | $1.2M 5.2K shares | Not confirmedshare of stake is being verified. Why | No plan disclosed |
| John Kozarich Director | $1.1M 5.3K shares | Not confirmedshare of stake is being verified. Why | Disclosed plan |
| Martine Zimmermann Director | $342K 1.2K shares | Not confirmedshare of stake is being verified. Why | No plan disclosed |
Board members representing outside shareholders, reported separately: Jason Aryeh. Details
Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.
| Insider | Held Oct 16, 2025 | Sold | Held Oct 16, 2026 | Still held | ||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Todd Davis!Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Todd Davis are complete. Chief Executive Officer, Director | n/a | 0 | n/a | n/a | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Todd DavisHoldings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Todd Davis are complete; balances and unit counts will be added when the check is finished. −130gifted (net of own trusts) −33Kwithheld by the company for taxes Stock options (not counted as shares):
Estimate: options held × ($307.74 − strike price), using the most recent insider trade price on Form 4 (Oct 2, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||
Jason Aryeh!Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. See the filing Sales and other transactions for Jason Aryeh are complete. Director | n/a | −5K | n/a | n/a | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Jason AryehHoldings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Jason Aryeh are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts) Stock options (not counted as shares):
Estimate: options held × ($307.74 − strike price), using the most recent insider trade price on Form 4 (Oct 2, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||
John Kozarich!Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for John Kozarich are complete. Director | n/a | −5.3K | n/a | n/a | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for John KozarichHoldings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for John Kozarich are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts) Stock options (not counted as shares):
Estimate: options held × ($307.74 − strike price), using the most recent insider trade price on Form 4 (Oct 2, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||
Stephen Sabba!Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Stephen Sabba are complete. Director | n/a | −5.2K | n/a | n/a | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Stephen SabbaHoldings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Stephen Sabba are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts) Stock options (not counted as shares):
Estimate: options held × ($307.74 − strike price), using the most recent insider trade price on Form 4 (Oct 2, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||
Andrew Reardon!Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Andrew Reardon are complete. CLO & Secretary | n/a | −40K | n/a | n/a | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Andrew ReardonHoldings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Andrew Reardon are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts) −9.7Kwithheld by the company for taxes Stock options (not counted as shares):
Estimate: options held × ($307.74 − strike price), using the most recent insider trade price on Form 4 (Oct 2, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||
John Lamattina!Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for John Lamattina are complete. Director | n/a | −11K | n/a | n/a | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for John LamattinaHoldings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for John Lamattina are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts) Stock options (not counted as shares):
Estimate: options held × ($307.74 − strike price), using the most recent insider trade price on Form 4 (Oct 2, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||
Octavio Espinoza!Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Octavio Espinoza are complete. Chief Financial Officer | n/a | −50K | n/a | n/a | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Octavio EspinozaHoldings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Octavio Espinoza are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts) −14Kwithheld by the company for taxes Stock options (not counted as shares):
Estimate: options held × ($307.74 − strike price), using the most recent insider trade price on Form 4 (Oct 2, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||
Nancy Gray!Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Nancy Gray are complete. Director | n/a | −6.6K | n/a | n/a | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Nancy GrayHoldings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Nancy Gray are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts) Stock options (not counted as shares):
Estimate: options held × ($307.74 − strike price), using the most recent insider trade price on Form 4 (Oct 2, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||
Jason Haas!Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Jason Haas are complete. Director | n/a | −14K | n/a | n/a | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Jason HaasHoldings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Jason Haas are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts) Stock options (not counted as shares):
Estimate: options held × ($307.74 − strike price), using the most recent insider trade price on Form 4 (Oct 2, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||
Martine Zimmermann!Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Martine Zimmermann are complete. Director | n/a | −1.2K | n/a | n/a | ||||||||||||||||||||||||||||||||
Vesting, gifts, unvested awards and holding lines for Martine ZimmermannHoldings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Martine Zimmermann are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts) −297withheld by the company for taxes Stock options (not counted as shares):
Estimate: options held × ($307.74 − strike price), using the most recent insider trade price on Form 4 (Oct 2, 2026), not a market close. | ||||||||||||||||||||||||||||||||||||
Holdings and share of stake for Ligand Pharmaceuticals Inc are being verified, so no balances, unit counts or percentages are shown. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings.
Officer and director open-market sales: $34.7M across 137,708 shares. Plan status and stated purpose are separate questions, and a sale can have both.
The lighter segment is sales with no plan disclosed in the filing ($10.6M), including tax-related sales outside a plan.
Sales with no 10b5-1 plan and no tax reference in the filing. $3.7M of it is Jason Haas. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Jason Haas, Aug 12, 2026
56,479 shares ($10.4M) were withheld by the company for taxes, which isn't a market sale.
Gifts the filings describe as charitable. Gifts are not sales and are not included in the sale totals.
| Seller | Shares sold | Proceeds | Under a disclosed plan | Share of total | Sales dates |
|---|---|---|---|---|---|
| Octavio Espinoza Chief Financial Officer | 50K | $13.0M | 97% | 38% | Dec 12, 2025 to Aug 12, 2026 |
| Andrew Reardon CLO & Secretary | 40K | $10.3M | 100% | 30% | Mar 4, 2026 to Oct 2, 2026 |
| Jason Haas Director | 14K | $3.7M | 0% | 11% | Jun 12, 2026 to Aug 12, 2026 |
| John Lamattina Director | 11K | $2.4M | 0% | 7% | Nov 7, 2025 to Jun 10, 2026 |
| Nancy Gray Director | 6.6K | $1.4M | 0% | 4% | Nov 7, 2025 to Nov 7, 2025 |
| Jason Aryeh Director | 5K | $1.3M | 0% | 4% | Jun 10, 2026 to Jun 11, 2026 |
| Stephen Sabba Director | 5.2K | $1.2M | 0% | 3% | Mar 3, 2026 to Jun 16, 2026 |
| John Kozarich Director | 5.3K | $1.1M | 100% | 3% | Nov 3, 2025 to May 13, 2026 |
| Martine Zimmermann Director | 1.2K | $342K | 0% | 1.0% | Sep 10, 2026 to Sep 10, 2026 |
| Month | Sale proceeds | Disclosed plan | To cover taxes | No plan disclosed |
|---|---|---|---|---|
| Oct 2025 | $0 | $0 | $0 | $0 |
| Nov 2025 | $2.3M | $89K | $0 | $2.2M |
| Dec 2025 | $431K | $91K | $0 | $340K |
| Jan 2026 | $89K | $89K | $0 | $0 |
| Feb 2026 | $91K | $91K | $0 | $0 |
| Mar 2026 | $5.6M | $4.6M | $0 | $1.1M |
| Apr 2026 | $1.1M | $1.1M | $0 | $0 |
| May 2026 | $1.7M | $1.7M | $0 | $0 |
| Jun 2026 | $5.7M | $1.1M | $0 | $4.6M |
| Jul 2026 | $1.6M | $1.6M | $0 | $0 |
| Aug 2026 | $12.8M | $10.7M | $0 | $2.1M |
| Sep 2026 | $1.8M | $1.4M | $0 | $342K |
| Oct 2026 | $1.5M | $1.5M | $0 | $0 |
Directors whose reported holdings sit mostly in an investment fund or a corporate shareholder they represent, not in their own name, with beneficial ownership disclaimed except for their own financial interest. Listed and sourced here; not part of the management totals or the answer line. Shares a fund hands to its own investors are distributions, not sales.
| Board member | Held Oct 16, 2025 | Sold | Held Oct 16, 2026 | Still held |
|---|---|---|---|---|
Jason Aryeh!Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. See the filing Sales and other transactions for Jason Aryeh are complete. Director | n/a | 0 | n/a | n/a |
Vesting, gifts, unvested awards and holding lines for Jason AryehHoldings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Jason Aryeh are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts) | ||||
More than usual: about 1.6x the 5-year average. 9 insiders sold; the average is 5 a year.
| 12 months ending | Shares sold | Insiders who sold | Proceeds |
|---|---|---|---|
| Oct 16, 2026 Latest 12 months | 138K | 9 | $34.7M |
| Oct 16, 2025 1 year earlier | 24K | 5 | $3.4M |
| Oct 16, 2024 2 years earlier | 102K | 5 | $9.6M |
| Oct 17, 2023 3 years earlier | 39K | 5 | $2.9M |
| Oct 17, 2022 4 years earlier | 26K | 4 | $3.7M |
| Oct 17, 2021 5 years earlier | 236K | 5 | $42.6M |
Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.
Holdings and share of stake are being verified. Balances, unit counts and every share-of-stake figure for Ligand Pharmaceuticals Inc are held back until that check is finished. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings and are complete.
External context: we only cite outside events when a documented connection exists. None is shown for this period.
All 982 Forms 3, 4 and 5 on record for Ligand Pharmaceuticals Inc (SEC CIK 886163), filed from May 21, 1998 to Oct 6, 2026; 51 of them were filed in the 12 months this page covers, retrieved from SEC EDGAR on Oct 16, 2026. Prices are the ones reported in each filing, often weighted averages. 13 filings were left out because Ligand Pharmaceuticals Inc filed them as an owner of another company's stock. 13 older filings exist only on paper and could not be read.
Probable 1-for-6 stock split on or before Nov 19, 2010 (split date stated in a footnote). Splits aren't reported as transactions; 20 holding lines changed by exactly this ratio, so earlier share counts are restated.
Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.
Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".
Spotted something wrong on this page? Report an error. We check every report against the SEC filing and list what we fix in the corrections log.