Effective as of August 18, 2017, the Board of Directors of Ligand Pharmaceuticals Incorporated (the “Company”) appointed Nancy Ryan Gray, Ph.D. to the Company’s Board of Directors. The appointment was made based upon the recommendation of the Nominating and Corporate Governance Committee of the Company’s Board of Directors.

Dr. Gray, 58, has acted as the President and CEO of Gordon Research Conferences, a nonprofit organization focused on organizing international scientific conferences, since 2003. From December 1997 until August 2003 she served as the Director of Membership for the American Chemical Society. Prior to that, Dr. Gray worked as a Senior Research Scientist at Exxon/Mobil Research and Engineering, a subsidiary of Exxon Mobil Corporation focused on researching oil and gas. Dr. Gray received her B.S. in Chemistry from the University of Notre Dame in 1981 and her Ph.D. in Fuel Science from The Pennsylvania State University in 1985.

In connection with her appointment to the Board, to the Company’s independent director compensation policy, Dr. Gray has been granted restricted stock units representing 913 shares of the Company’s common stock and options to purchase 3,452 shares of the Company’s common stock. The options have an exercise price per share equal to $126.26, the fair market value of the Company’s common stock on the date of grant. The foregoing awards will vest in three equal annual installments on each of the first three anniversaries following the date of grant. Dr. Gray will also receive cash compensation for her service on the Board in accordance with the Company’s independent director compensation policy, as such policy may be amended from time to time.

There are no arrangements or understandings between Dr.Gray and any other person to which she was selected to serve on the Board of Directors. There are no transactions in which the Company or any of its subsidiaries is a party and in which Dr.Gray has a material interest subject to disclosure under Item404(a) of Regulation S-K.

On August21, 2017, the Company issued a press release relating to the appointment of Dr.Gray to the Company’s Board of Directors. A copy of this press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

Note: Information in this Current Report on Form 8-K furnished to this Item 5.02 shall not be deemed to be “filed” for purposes of Section18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The information in this Current Report on Form 8-K furnished to Item 5.02 shall not be incorporated by reference into any registration statement to the Securities Act of 1933, as amended.

LIGAND PHARMACEUTICALS INC Exhibit
EX-99.1 2 ligandappointsdrnancygra.htm EXHIBIT 99.1 ligandappointsdrnancygra 1 Contacts: Ligand Pharmaceuticals Incorporated LHA Todd Pettingill Bruce Voss [email protected] [email protected] (858) 550-7500 (310) 691-7100 @Ligand_LGND Ligand Appoints Dr. Nancy Gray to its Board of Directors SAN DIEGO (August 21,…
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About LIGAND PHARMACEUTICALS INCORPORATED (NASDAQ:LGND)

Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals. It has have partnerships and license agreements with over 85 pharmaceutical and biotechnology companies, and over 140 different programs under license with it are in various stages of commercialization and development. Its partners have programs in clinical development targeting seizure, coma, cancer, diabetes, cardiovascular disease, muscle wasting, liver disease and kidney disease, among others. It is developing a small molecule glucagon receptor antagonist for the treatment of Type II diabetes mellitus.