Ligand Pharma Enhances Stock Incentive Plan and Management

An announcement from Ligand Pharma (LGND) is now available.

Ligand Pharmaceuticals Incorporated’s stockholders have greenlit an overhaul to the 2002 Stock Incentive Plan, now allowing the issuance of over 9.7 million shares, with specific share reductions tied to various types of stock-based awards. The Restated Plan, effective from June 14, 2024, also sets annual award limits and outlines provisions for exercise prices, vesting, adjustments, and corporate event contingencies. The management of the plan falls to the Human Capital Management and Compensation Committee, which has broad discretion in awarding stock options and performance awards to eligible personnel, including consultants and non-employee directors, with a cap on annual compensation for non-employee directors.

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