LIGAND PHARMACEUTICALS INC false 0000886163 0000886163 2019-12-20 2019-12-20

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): December 20, 2019

 

LIGAND PHARMACEUTICALS INCORPORATED

(Exact name of registrant as specified in its charter)

 

Delaware

 

001-33093

 

77-0160744

(State or other jurisdiction of

incorporation or organization)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

3911 Sorrento Valley Boulevard, Suite 110

San Diego, CA 92121

(Address of principal executive offices) (Zip Code)

(858) 550-7500

(Registrant’s telephone number, include area code)

N/A

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange

on which registered

Common Stock, par value $0.001 per share

 

LGND

 

The Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  

 

 


Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 20, 2019, the Board of Directors (the “Board”) and the Compensation Committee (the “Committee”) of the Board of Ligand Pharmaceuticals Incorporated (the “Company”) approved cash bonus payments for the 2019 fiscal year to be paid to the Company’s named executive officers. Bonus payments were based on the Committee’s evaluation of performance goals for 2019. Such goals related to the achievement of certain corporate organizational and infrastructure objectives and the advancement of the Company’s business and clinical development programs.

The 2019 bonuses to be paid to each named executive officer are as follows:

Name and title

 

2019 Bonus

 

John L. Higgins, Chief Executive Officer

  $

291,686

 

Matthew W. Foehr, President and Chief Operating Officer

  $

195,000

 

Matthew Korenberg, Executive Vice President and Chief Financial Officer

  $

186,667

 

Charles S. Berkman, Senior Vice President, General Counsel and Secretary

  $

136,933

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

LIGAND PHARMACEUTICALS INCORPORATED

             

    Date: December 23, 2019

 

 

By:

 

/s/ Charles Berkman

 

 

Name:

 

Charles Berkman

 

 

Title:

 

Senior Vice President, General Counsel and Secretary