LIGAND PHARMACEUTICALS INCORPORATED (NASDAQ:LGND) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

LIGAND PHARMACEUTICALS INCORPORATED (NASDAQ:LGND) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

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Base Salary Increases and Payment of Bonuses to Named Executive Officers

On January 23, 2018, the Board of Directors (the “Board”) and the Compensation Committee (the “Committee”) of the Board of Ligand Pharmaceuticals Incorporated (the “Company”) approved base salary increases for 2019 and cash bonus payments for the 2018 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 2018. 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 base salaries and 2018 bonuses to be paid to each named executive officer are as follows:

Name and title

2019 Base Salary

2018 Bonus

John L. Higgins, Chief Executive Officer

$650,000

$517,615

Matthew W. Foehr, President and Chief Operating Officer

$490,000

$252,412

Matthew Korenberg, Executive Vice President, Finance and Chief Financial Officer

$470,000

$235,641

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

$430,000

$177,100

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.

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